Discussion response MK

 PLEASE RESPOND TO BOTH PEOPLE DISCUSSIONS!!!!!

Fareed Discussion Response 1

TOPIC 2: Maslow's Hierarchy of Needs - Personal Application

Maslow's Hierarchy of Needs is the model for studying the psychological factors that affect decision making. Review the model and take a shot at identifying at which stage you are currently located (fortunately, our stage changes over time). Essentially, your stage affects your consumer decision making.

From the end of the weekly slideshow, I don’t think I am at the very bottom, Wifi and Cellphone  (UMGC, n.d.). From the actual Maslow’s Hierarch of Needs, I would consider myself to be at the Self-actualization level. I am at a level in my life where I want to be recognized for the good that I am doing and what I have done, be it in the professional or personal life (Susman, 2020).

Based on the stage you are in, what types of purchases have you been making that are consistent with this stage?

For example, have you switched to buying only organic food because you are mostly concerned with fulfilling your social needs? Or, are you still searching for the lowest-priced foods because you are still filling your basic need for food? Or, do you find yourself donating time or money to charities because you are trying to reach self-actualization?

Over the years, I have moved from buying generic brands to name brands. I have also noticed myself buying custom suits, which is a big jump from going to the thrift store about a little over 10-years ago. I also find myself contributing more time to volunteering in various capacities.

Works Cited

Susman, D. (2020, June 3). The 5 Levels of Maslow's Hierarchy of Needs. Retrieved from verywell mind: https://www.verywellmind.com/what-is-maslows-hierarchy-of-needs-4136760

UMGC. (n.d.). Week 3 Overview MS PowerPoint. Retrieved from UMGC: https://learn.umgc.edu/d2l/le/content/511827/viewContent/19704071/View

Discussion Response 2 (justin)

Maslow's Hierarchy of Needs is the model for studying the psychological factors that affect decision making. Review the model and take a shot at identifying at which stage you are currently located (fortunately, our stage changes over time). Essentially, your stage affects your consumer decision making.  

At this stage in my life, I feel that I most of my decision-making falls within the somewhere Self-actualization and Esteem needs. Admittedly, maybe a purchase here and there that fall into the Social category as well. With 25+ years in the workforce and significant establishment in more than one career field, I feel respected by others and understand my potential (Psychological Factors That Affect Buying Behavior, 2020). My accomplishment also stems from my wife and three children. 

Based on the stage you are in, what types of purchases have you been making that are consistent with this stage? 

Purchases being made in relation to the Self-Actualization level of needs typically involves making decisions that exhibit a desire for self-fulfillment, only after all other needs have been met. For instance, taking up a hobby that has always interested you, but you did not feel justified in spending the money on (Morris, 2014). For me, that was sewing equipment. I decided to purchase a sewing machine and dust of the Home-Economics skills from my teen age years. I made a few box cushions for a breakfast nook of ours, then I was hooked. My most recent sewing endeavors have been reupholstering the cushions for my boat, to include completely rebuilding the framing and replacing the foam. I also began sewing masks, thanks to COVID. My Esteem level purchases may be a little ego driven. For instance, the boat I mentioned earlier, and a new Chevy pickup to pull it. They are purchases that are a little flashy, and at the same time fulfilling, as I get to use them as a hobby.

References 

Morris, J. (2014, April 03). Maslow's Hierarchy of Needs. Retrieved from https://consumerbehaviourjeremiah.wordpress.com/2014/04/03/maslows-hierarchy-of-needs  

Psychological Factors That Affect Buying Behavior [Course Resources]. (2020). In MRKT 310: Marketing Principles: Fall 2020. Retrieved from https://learn.umgc.edu/d2l/le/content/511827/viewContent/19704080/View