Marketing and Motivation

 Model developed this theory in s  theory remains valid today for understanding human motivation, management training, and personal development.  Maslow believed that human nature is basically good, not evil  Normal human development involves the actualization of this inherent goodness

 Maslow believed that one will not think about meeting a higher level needs of the pyramid without satisfying their lower needs.  This outlines the fundamental basis for what motivates humans.  For example, unless your need for sleep, hunger, thirst and breathing are met, you will not think about friendship, love or belonging needs.

 If marketers can appeal to one of these motivational drivers via advertising, consumers are more apt to buy the product  Ie: if consumers think they NEED to buy something in order to feel good about themselves, they will be driven by the ESTEEM level of motivation.  Can you think of any commercials that cater to a specific level on Maslow’s Hierachy? (SNICKERS® - "Coach”)  Do you know of any other commercial, which try to meet one of the needs in Maslow’s hierarchy of needs?

 Make sure you understand the difference between your WANTS vs. your NEEDS.  Marketers are always trying to convince us that we NEED products, when they are simply, wants.  Before you buy anything, always ask yourself, “do I want it or do I need it?”

 Primary Research: ◦ Qualitative: used to measure people’s reactions, responses or feelings towards a given subject or problem ◦ Quantitative: involves collecting data by surveying a representative sample of a target-market population ◦ For example, survey is done to find out whether people will want to buy my magic pen. Secondary Research: ◦ Someone else has done a similar research in the past, so you can use this research results to come up with marketing plan or new product.

On Monday, we will meet at room 228. On Tuesday, we will meet at room 227. On Wed, we will meet at room 217 On Th, we will meet in room 227.

 Many questions about Supply Law and Demand Law  Many questions about Target Market  Many questions about “Maslow’s hierarchy of needs”  Marketing Activities – Pricing, Inventory management, etc  Pros and Cons of Media ads  Minimum one question from the Unit 1 Quiz