I WANT this, but I really NEED that….

Chapter 5: Final Consumers and Their Buying Behavior

A “need” is the basic force that motivates a person to do something, while a “want” is a need that is learned during a person’s life. As humans we are motivated by either a “need” or a “want” which has been psychologically proven. Chapter 5 analyzes the “PSSP Hierarchy of Needs” that explains the physiological needs, safety needs, social needs, and personal needs in attempt to explain why people buy certain things. It’s important to know the basics of what drives us as humans to purchase things in order to find the ideal method of marketing and reaching out to potential customers. As society grows, social influences have had a greater affect on consumer behavior. “Essentials of Marketing” chapter 5 has an Exhibit (5-7) that explains the “Stages in Modern Family Life Cycles” and the “usual flow”, “recycled flow”, and “traditional family flow”. The reasoning that family members influence consumer behavior is because of their shared values and attitudes. An example is simply thinking about a time that you have had an influence on a family member or even friend for the smallest thing. Now that I’ve thought about it, I realize that I influence my family members all the time without even making a huge effort. The fact that my family trusts my judgement on food places plays a huge part when I attempt to influence them to eat at one place over another. When our stomach growls, we are programmed to first follow our “needs” and find food, but over time we have also developed a “want” which motivates us to favor one thing over another in order to fulfill our “needs”.

I market? No wayyyyy

Chapter 1: Marketing’s Value to Consumers, Firms, and Society

Most of the time we don’t realize when we encounter the idea of “marketing” because it’s become second nature. Chapter 1 of “Essentials of Marketing” attempts to define marketing on a more personal level. We use marketing as a part of our everyday lives; the places we shop, the electronics we use, the goods and services we buy, and even our interactions with other people. Professor Gentry defined marketing as “providing people with what they want for perceived mutual benefit”, which realistically most of us do during the course of the day. With the understanding that “marketing” circulates our everyday lives, the key characteristics are important in order for an organization to market successfully. If you take a look at “Apple” and their methods on marketing, you begin to see the parallel with the overall success and continuous growth of the organization. Apple markets their products not only by advertising, but also through the satisfied customers that market through word of mouth. This chapter emphasizes that “marketing isn’t just selling and advertising”, but instead aiming to maintain satisfied customers by meeting or exceeding their expectations.