Unit 1: Business Fundamentals

BBI 201 King City Secondary School

Fall 2013

Chapter 1: Economic Basics

Topic: Wants vs Needs

What is the difference between a want and a need?

A need is a necessity, you have to have it

A want is something that you would like to have but can live without it

***The role of advertising is to make wants seem like they are needs

We live in a world of wants but feel like we need everything

Maslow’s Hierarchy of Needs

Abraham Maslow (1908-1970) was an American psychologist

Best known for creating the hierarchy of needs which all humans attempt fulfill in an attempt to reach ultimate satisfaction and happiness

Maslow’s Hierarchy of Needs

Self-Actualization

Esteem

Social

Safety

Physiological

Level One: Physiological Level One: Physiological Needs/WantsNeeds/Wants

PHYSIOLOGICAL OR SURVIVAL NEEDS

MOST NEEDS HAVE TO DO WITHMOST NEEDS HAVE TO DO WITHSURVIVAL PHYSICALLY ANDSURVIVAL PHYSICALLY ANDPSYCHOLOGICALLYPSYCHOLOGICALLY

Ex. Food, Water, Roadside Assistance

Level Two: Safety Needs/WantsLevel Two: Safety Needs/Wants

PHYSIOLOGICAL OR SURVIVAL NEEDS

SAFETY NEEDS

Ex. Physical Safety, Economic Safety, Personal Security, Financial Security, Health and Well Being

ON THE WHOLE AN ON THE WHOLE AN INDIVIDUALINDIVIDUAL

CANNOT SATISFY ANY CANNOT SATISFY ANY LEVELLEVEL

UNLESS NEEDS BELOW UNLESS NEEDS BELOW AREARE

SATISFIEDSATISFIED

Level Three: Social Needs/WantsLevel Three: Social Needs/Wants

PHYSIOLOGICAL OR SURVIVAL NEEDS

SAFETY NEEDS

SOCIAL NEEDS

Ex. Friendship, Family, Love

Level Four: Esteem Needs/WantsLevel Four: Esteem Needs/Wants

PHYSIOLOGICAL OR SURVIVAL NEEDS

SAFETY NEEDS

LOVE, AFFECTION, AND BELONGINGNESS NEEDS

ESTEEM NEEDS

Ex. Need for respect from others (Low Esteem Needs)

Note: High Esteem Needs is achieved by respecting yourself

MaslowMaslow’’s Hierarchy of Needss Hierarchy of Needs

SELF-SELF-ACTUALIZATIONACTUALIZATION

NEEDNEEDFORFOR

MASLOW EMPHASIZES NEED MASLOW EMPHASIZES NEED FOR SELFFOR SELF

ACTUALIZATION ISACTUALIZATION ISA HEALTHY INDIVIDUALA HEALTHY INDIVIDUAL’’S S

PRIMEPRIMEMOTIVATIONMOTIVATION

MaslowMaslow’’s Hierarchy of Needss Hierarchy of Needs

SELF-SELF-ACTUALIZATIONACTUALIZATION

NEEDNEEDFORFOR

SELF-ACTUALIZATION MEANS ACTUALIZING SELF-ACTUALIZATION MEANS ACTUALIZING ONEONE’’S POTENTIAL BECOMING ALL ONE ISS POTENTIAL BECOMING ALL ONE IS

CAPABLE OF BECOMINGCAPABLE OF BECOMING

MaslowMaslow’’s Hierarchy of Needss Hierarchy of Needs

PHYSIOLOGICAL OR SURVIVAL NEEDS

SAFETY NEEDS

ESTEEM NEEDS

SELF-ACTUALIZATION

NEED

SOCIAL NEEDS

HoN/W in Advertising

Physiological Needs/Wants- roadside recovery services, wife/child abuse help lines

Safety Needs/Wants- home security products, home insurance, life insurance, schools

Social Needs/Wants- dating and match making services, clubs and memberships,

Esteem Needs/Wants- cosmetics, fast cars, home improvements, fashion clothes, lifestyle products and services

Self-Actualization Needs/Wants- ???

Your Task for the remainder of the period…

Is to find advertisements that best represent each of Maslow’s different needs/wants. You will be given magazines to look through and if you cannot find an example in the magazines you are allowed to look online for the outstanding examples.

You will be placed in groups of two or three students

You will be given a limited amount of time to complete the activity

After we will discuss your findings as a class

Your groups are

1. Zaid and Aidan

2. Sebastian B. and Victoria

3. Murphy and Trevor

4. Luca C. and Kristian

5. Pratham and Jake P

6. Andrea and Kaitlin

7. Luca F and Jake P

8. Victoria and Nick9. Jake H. and Amelia10. Nathan Tamara11. Sebastian O. and Emma12. Adam and Sonia13. Mohammed and Alex14. Paul, Edward and Daniel

Example of a Physiological Needs/Wants Advertisement

This ad demonstrates the physiological need of Maslow’s hierarchy of needs.  The strategy of this need is expressing that water is very important and it is impossible to survive without it.  This ad fits the physiological need because water is something that people will always need and thirst is something that people will always have.

Example of a Safety Needs/Wants Advertisement

This ad is an example of the Safety need of Maslow’s hierarchy of needs.  The strategy of this ad is conveying that if you rent a home or an apartment and do not have insurance it is equivalent to doing the most dangerous activities in your home.  This ad fits the safety need because people feel secure and safe when they have insurance

Example of a Social Needs/Wants Advertisement

This ad is an example of the love and belongingness need of Maslow’s hierarchy of needs.  The strategy of this ad is expressing that the Salvation Army is always looking out to help people in need.  This ad conveys the love and belongingness need because it is expressing that there are people who will help anybody in need and those people will feel like they belong.

Example of an Esteem Needs/Wants Advertisement

This ad demonstrates the esteem need of Maslow’s hierarchy of needs.  The strategy of this ad is suggesting that the design of this car is so much like a plane and it is hard to differentiate between the two.  This ad expresses the esteem need because people will feel very prestigious.  They will also feel as if they have a very high status because their car is compared to a plane.

Example of a Self Actualization Needs/Wants Advertisement

This ad expresses the self-actualization need of Maslow’s hierarchy of needs.  The strategy of this ad is conveying that the U.S. Marines only wants people who are able to live up to their highest potential and push others to do the same.  This ad fits the self-actualization ad because it is expressing people to be the best they can be and then they will feel self-fulfillment.