1. Chapter 1: Economic Basics Topic: Wants vs Needs
Unit 1: Business Fundamentals BBI 201 King City Secondary School Fall 2013
Chapter 1: Economic Basics
Topic: Wants vs Needs

2. 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

3. Maslow’s Hierarchy of Needs
Abraham Maslow ( ) 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

4. Maslow’s Hierarchy of Needs
Self-Actualization
Esteem
Social
Safety
Physiological

5. Level One: Physiological Needs/Wants
MOST NEEDS HAVE TO DO WITH
SURVIVAL PHYSICALLY AND
PSYCHOLOGICALLY
Ex. Food, Water, Roadside Assistance
PHYSIOLOGICAL OR SURVIVAL NEEDS 5

6. Level Two: Safety Needs/Wants
Ex. Physical Safety, Economic Safety, Personal Security, Financial Security, Health and Well Being
SAFETY NEEDS
PHYSIOLOGICAL OR SURVIVAL NEEDS

7. ON THE WHOLE AN INDIVIDUAL CANNOT SATISFY ANY LEVEL
UNLESS NEEDS BELOW ARE
SATISFIED

8. Level Three: Social Needs/Wants
Ex. Friendship, Family, Love
SOCIAL NEEDS
SAFETY NEEDS
PHYSIOLOGICAL OR SURVIVAL NEEDS 7

9. Level Four: Esteem Needs/Wants
Ex. Need for respect from others (Low Esteem Needs)
Note: High Esteem Needs is achieved by respecting yourself
ESTEEM NEEDS
LOVE, AFFECTION, AND
BELONGINGNESS NEEDS
SAFETY NEEDS
PHYSIOLOGICAL OR SURVIVAL NEEDS 8

10. MASLOW EMPHASIZES NEED FOR SELF A HEALTHY INDIVIDUAL’S PRIME
Maslow’s Hierarchy of Needs
NEED
FOR
SELF-
ACTUALIZATION
MASLOW EMPHASIZES NEED FOR SELF
ACTUALIZATION IS
A HEALTHY INDIVIDUAL’S PRIME
MOTIVATION 9

11. Maslow’s Hierarchy of Needs
FOR
SELF-
ACTUALIZATION
SELF-ACTUALIZATION MEANS ACTUALIZING
ONE’S POTENTIAL BECOMING ALL ONE IS
CAPABLE OF BECOMING 10

13. Maslow’s Hierarchy of Needs
SELF-
ACTUALIZATION
ESTEEM NEEDS
SOCIAL NEEDS
SAFETY NEEDS
PHYSIOLOGICAL OR SURVIVAL NEEDS 11

14. 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- ???

15. 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

16. Your groups are Zaid and Aidan Sebastian B. and Victoria
Murphy and Trevor
Luca C. and Kristian
Pratham and Jake P
Andrea and Kaitlin
Luca F and Jake P
8. Victoria and Nick
9. Jake H. and Amelia
10. Nathan Tamara
11. Sebastian O. and Emma
12. Adam and Sonia
13. Mohammed and Alex
14. Paul, Edward and Daniel

17. 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.

18. 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

19. 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.

20. 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.

21. 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.