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Chapter 5

MARK 201 Chapter 5: Chapter 5 notes
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Department
Marketing
Course
MARK 201
Professor
Steven Laing
Semester
Winter

Description
Abraham Maslow’s Hierarchy of Needs Physiological Needs • These include the most basic needs that are vital to survival, such as the need for water, air, food, and sleep. • Maslow believed that these needs are the most basic and instinctive needs in the hierarchy because all needs become secondary until these physiological needs are met. Security Needs • Security needs are important for survival, but they are not as demanding as the physiological needs. Examples of security needs include health care, safe neighborhoods, and shelter from the environment. Social Needs • These include needs for belonging, love, and affection. Relationships such as friendships, and families help fulfill this need for companionship and acceptance. Esteem Needs • After the first three needs have been satisfied, esteem needs becomes increasingly important. These include the need for things that reflect on self-esteem, personal worth, social recognition, and accomplishment. Self-actualizing Needs • Self-actualizing people are self-aware, concerned with personal growth and are less concerned with the opinions of others. The Buyer Decision Process 1. Need recognition Occurs when the buyer recognizes a problem or need triggered by: • Internal stimuli: For example, when a normal need such as thirst or hunger rises high enough to a level to become a drive. • External stimuli: For example, when an advertisement might get you thinking about buying a new car. 2. Information search Is the amount of information needed in the buying process and depends on the strength of the drive, the
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