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Week 2 - Coggle Diagram

- - - - Needs, wants, goals, values, self concept.
      - Needs
        
        An internal state of tension caused by a disequilibrium from an ideal or desired state.
        
        Maslow Hierarchy of needs
        
        Five kew types of needs
        
        Common across societies and cultures
        
        Hierarchichal: Lower level needs are more important.
        
        Physiological
        
        Safety
        
        Social
        
        Egoistic
        
        Self actualization
        
        Shortcomings such as not a fixed order or omission of certain needs
        
        Alternative classification of needs
        
        Functional
        
        Symbolic
        
        Hedonic
        
        Needs V Wants
        
        Needs are more abstract and universal.
        
        Wants are more concrete and specific. They are a desire for a particular means to satisfy a need
        
        Wants are shaped by an individuals specific culture, knowledge, and context
        
        Marketing miopia.
        
        Companies need to focus on the needs that their companies satisfy rather than the product itself to stay competitive and progressive.
        
        Marketing implications of needs
        
        Segmenting the market
        
        Segmenting markets based in the classifications of needs. (functional, symbolic, hedonic
      - Goals
        
        End states or desired outcomes that an individual would like to achieve
        
        Types
        
        Concrete or abstract
        
        Lose 5 kg vs get fit
        
        Goals to regulate how consumers feel
        
        Have fun, feel happy
        
        Promotion focused vs prevention focused
        
        Promotion: focused on achieving outcomes
        
        Prevention: focus on avoiding certain outcomes
        
        Some consumers might be more interested in prevention while other more interested in promotion
        
        Appraisal Theory
        
        Whether consumer feels good or bad about an offering depends on wether the offering is consistent with the consumer goals
        
        Appraisals / Judgements of offering (cognitive) lead to an emotional reaction
      - Concept of Self
        
        Our mental view of who we are defines our behaviors
        
        Types of self concepts
        
        Actual Self
        
        A person realistic appraisal of the qualities he or she does or does not posses
        
        Who we are and how others see us
        
        Ideal self
        
        A persons perception of how he or she would like to be
        
        Partially molded by elements of consumer culture
        
        Russel Belk "Possessions and the extended self
        
        Consumers can use products and services to communicate information about themselves
        
        People chose products that are consistent with their self concept
        
        Products / services that are more consistent with the self view are more favorably valuated
        
        Consumers can use products to brige the gap between their actual and ideal self
        
        Ought Self
        
        A persons perception of ho he or she should be
        
        Shaped by individuals duties or obligations
        
        Ho society expects us to be
      - Values
        
        Beliefs about what is right, important and good also affect our appreciation of a product
      - Personal involvement