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Week 2: Needs, Wants, & Consumer Insights - Coggle Diagram
Week 2:
Needs, Wants, &
Consumer Insights
Stage 1:
Need/Problem
Recognition
Consumers experience a
discrepancy
between
what they have and what they need/want.
They are thus motivated to remove the discrepancy.
NEED/WANT
[ideal state] vs
GOT
[actual state]
Maslow's Hierarchy of Needs
Innate Needs
(Physiological; Primary) --> E.g. food, water, air, clothing, shelter.
Acquired Needs
(Psychological; secondary) --> E.g. esteem, affection, power
Other ways of
categorizing needs
1) Functional
Social:
Modeling, Support
Nonsocial:
Safety, Order, Physical Well-being
2) Symbolic
Social:
Status, Affiliation, Belonging, Achievement
Nonsocial:
Self-control, Independence
3) Hedonic
Social:
Reinforcement, Sex, Play
Nonsocial:
Sensory stimulation, Cognitive
Stimulation, Novelty
Subtle Signals
Some luxury brands have eschewed flashy logos and packaging in order to appeal to consumers' growing preference for inconspicuousness.
E.g. Bottega Veneta -- No obvious
branding on its leather bags.
Stage 2:
Information Search
Sources of
Information Search
1) Internal Search:
Memory
2) External Search:
Outside sources -
Retailer, media, friends
Maximizing vs
Satisficing
Maximizing:
Search for all possible options
and choose the best option available.
Satisficing:
Search stops when I find an
option that meet my needs.