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4) What is Maslow’s hierachy of needs? How do differnces in need priorieties influence consumer behavior ?
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6) Some suggest that it is important to distinsguish between a need and a want. From this perscpective, a need is something we must have, whereas a want represents something we desire but can live without. Do you think that is a meaningful distinctin? Why or why not?
8) A business is perplexed by the unexpected results of its recent advertising campaign and has turned to you for help in underestanding what is going on. THis new campaign was designed to increase the advertised product’s personal relevance to consumers by emphasizing its ability to fill previously underappreciated needs. Yet the campaign had no noticeable effect on sales of the advertiesed product. Rather, it appeared to stimulate the sales of a competitor. Why might this have occured?
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4) What is Maslow’s hierarchy of needs? How do differences in need priorities influence consumer behavior?
According to Maslow the priority of needs differ. Psychological needs like shelter and food are considered as the most important ones. Then comes the security needs. These two categories are necessary to stay alive. After satisfying these needs a person can concentrate on other needs like social needs (friendship, love, and relationships), ego needs like self respect and self actualization needs. Consumer demand also has ties with these needs. For example a person gives priority to food, utility, rent or health expenses while allocating his/her budget. Then he/she can decide to spend money on products and services that …
