| What would it be worth to you if you could predict the | | | | The final level is different than the previous four. It |
| buying trends over the next year. How about even the | | | | involves the desire to 'be all that you can be'. This is |
| next few weeks? By using the principles of the | | | | the level where people try to maximize their potential. It |
| Maslow hierarchy of needs, you can use the news to | | | | is called the self-actualization level. |
| predict what your customers will be buying in the | | | | Now comes the payoff. How can you use this |
| future. | | | | knowledge to predict buying patterns? Well, you may |
| Early in his career, Abraham Maslow noticed that | | | | have already figured it out. If not, get ready for a big |
| certain things were much more important to have than | | | | payoff. |
| others. For instance, water is more important to have | | | | As an example, think of the events of 9/11. On that |
| than food. Because you would die of thirst within a | | | | day, the world changed. There was an immediate |
| few days, but most people would live over a month | | | | realization of the threat to all civilized nations. At that |
| without food. On the other hand, you would die within a | | | | point, the needs on many minds were those primarily |
| couple of minutes without oxygen. So, air is much | | | | of safety. |
| more important than water. | | | | You can probably think of what you would want to |
| You may be wondering what this has to do with | | | | market because of that change. There would be a big |
| marketing. Well, hang in there. When the reality hits you, | | | | demand on things that would improve people's safety. |
| it will be worth the wait. | | | | Demand for everything from training of security |
| Maslow also noticed that there was a regular order to | | | | personnel to personal firearms increased. |
| needs that were added when people had enough of | | | | Because of where the need for safety is placed in the |
| the basic necessities. The first level of needs he | | | | hierarchy, there was no real change in the demand for |
| labeled as physiological (basic needs for body function) | | | | food and water - or clean air for that matter. |
| needs. When those needs were taken care of, people | | | | However, consider what was not - in no way - on |
| would then want to take care of safety needs.Safety | | | | anyone's mind at that point. Things like art classes and |
| needs consist of things like a safe environment, | | | | even politics took a back seat to the basic need for |
| protection and stable government. These are the | | | | safety. |
| needs that keep you having anxiety and fear. | | | | By keeping track of current events and public opinion, |
| The next level of needs are those dealing with love | | | | you can predict to a great extent what people are |
| and belonging. These are things like friends, a life mate | | | | going to be spending their time and money on. When |
| and children. But, if you lose your safety or your basic | | | | things are going very well, they will tend to spend more |
| body needs, you may not worry about your family and | | | | money - sometimes huge amounts - on things higher |
| friends until those needs are taken care of. | | | | up the pyramid. |
| If your needs of love and belonging are met, you then | | | | So, here is the rule. When things are going bad. Market |
| would tend to try and get your needs for esteem met. | | | | things in the layer of the hierarchy where people feel |
| These needs include such things as fame, recognition | | | | their need. When things are going well, put more |
| and reputation. These esteem needs include not only | | | | emphasis on marketing things that appeal to the more |
| what other people think of you, but that you think of | | | | self satisfying side of people. |
| yourself. | | | | |