introduction

This presentation is the collection of different powerpoint which l took from slideshare. They are created by different people.

My name is silindile mbatha Student no 201209248 l am a student teacher at university of Johannesburg my presentation is about the needs and wants l will be presenting it to grade 10.

Needs or Wants?

IntroductionIntroduction

We all have We all have many wants many wants and needs, and needs, but we lack but we lack the resources the resources to fulfill them to fulfill them all. all.

How we How we allocate our allocate our resources, or resources, or “choose” what “choose” what to do, is to do, is Economics in Economics in practice!practice!

Needs and WantsContent – (learn about)

needs and wants• difference between needs and wants

• classifications of needs– primary, secondary– physical, social, emotional, cultural, spiritual (PECSS)– Maslow’s hierarchy

• satisfying needs and wants

Skills – (learn to)

compare the effectiveness of Maslow’s heirachy with other classifications listed

Consumer Needs and Wants

Wants are things that are not necessary for survival, but add comfort and pleasure to our lives.

You want a pizza, or new computer

Consumer Needs and Wants

Sometimes a business is started to satisfy consumer needs.

Needs are things that are necessary for survival.

You need food, clothing.

BBI 2OUnit 1

Slide

6

Want or Need ?Want or Need ?

What we What we want”want” and and what we what we needneed,, are are two very different two very different things.things.

WantsWants can be can be anything that we, well, anything that we, well, want. want.

NeedsNeeds are required, are required, or “needed”, for our or “needed”, for our survival. survival.

We balance these We balance these against our against our

available resources available resources to make our to make our

choices.choices.

Wants

Wants are things that are desirable but not necessary in order to survive.

Eg DVD player, mobile phones, ice cream, brand name clothes

WantWant

Examples include:Examples include: CarsCars

JewelryJewelry

Real EstateReal Estate

Anything and Anything and Everything!Everything!

Wants Sometimes we would like to have things even though we don’t need

them. We call these things wants.

We cannot always have all of our wants.

Wants

Here are some things you may want.

Bike TV Toys

NeedNeed

Examples Examples Include:Include: Food and WaterFood and Water

ShelterShelter

AirAir

Personal Personal ContactContact

Needs

Here are some things you need.

Coat Food Shelter

Hat and

Mittens

Needs continue Some things we need to live. Those things are called needs.

What are some things you need?

Needs

Needs are basic requirements of life; things necessary for survival.

Eg food, shelter, clothing, love, water.

Maslow's Hierarchy of needsMotivational Theory

Why do consumers make the purchases they do?

Maslow's Hierarchy of needs

Esteem NeedsThe need for things that reflect on self-esteem, personal worth, social recognition, and accomplishment.

Self-actualizing NeedsThe need for personal growth without recognition or the opinions of others. Interest in fulfilling ones potential.

Maslow's Hierarchy of needs

Physiological NeedsThe most basic needs that are vital to survival, such as the need for water, air, food, and sleep

Security NeedsThese include needs for safety and security. Examples: steady employment, health insurance, safe neighbourhoods, and shelter from the environment.

Social NeedsBelonging, love, acceptance and affection. Example: friendships, romantic companionship, involvement in social, community, or religious groups.

Primary and Secondary Needs

Primary needs are biological or physical needs that are essential to life. Eg food, water, clothing and shelter.

Secondary needs are wants or acquired needs they are more likely desires. Eg safety, love, respect, creativity

MASLOW’S HIERARCHY OF NEEDS

Developed in 1954 by Abraham Maslow

Hierarchy ranks needs in order of importance

Not everything in the hierarchy is necessary for survival

Needs at the bottom need to be met first

There are 5 levels of Maslow’s Hierarchy -Physiological: food water and shelter-Safety: feelings of personal security-Love: social and belonging-Esteem: our self-Self actualization: happy and fulfilled with everything

Read page 12 – 13 of CAFS text book

Task - Explain the term self-actualisation. Use scaffold provided to help plot your response.

Starting a Business

We’ve already spent time discussing different types of businesses and the type of people who start them.

Another factor that drives the creation of business is the consumer

Specifically Customer Needs and Wants

Classifications (PECSS)Physical

Physical needs for normal growth development and good health include: adequate sleep, regular health care, safety and protection.

Also special treatment and help for disabilities.

Includes requirements of air, water and sunshine.

Spiritual Moral or religious needsDevelopment of conscience, understanding the difference between wrong and right, beliefs, attitudes

EmotionalIncludes a stable environment, independence, love, affection, security within family and social groups

CulturalDevelopment of customs, beliefs, values and traditions within the family unit.Development of roles and responsibilities.

SocialInteraction, socialisation, companionship and friendship can be fostered.A sense of belonging from family and other groups.Eg. Leisure, recreation and relaxation.

Using the information provided, create a mind map that shows the links between each of these classifications and needs / want and well-being.

Businesses Rely on Consumers

Many aspects of business depend on the role of the consumer Supply and Demand

Pricing

Marketing

Production

Service

Attracting Consumer InterestIt is important to understand how

consumers make buying decisions. This will help decide what to make, how to market and distribute the product.

Businesses need to listen to what the consumer wants or what they think they need.

The challenge is then to get those

customers to buy your product.

Factors that influence buying

Factors that Influence Buyingincome

The amount of money consumers have to spend has a big influence on what they buy.

Example: 4 Member Families Spending on Groceries

Factors that Influence BuyingPrice

Price is the most important consideration for consumers

Consumers want good value for their money and won’t spend more than what they believe an item is worth

What other factors do you look for in your purchase? Quality Convenience Service Variety Warranty

ResourcesResources

Examples Include:Examples Include: MoneyMoney

TimeTime

SkillsSkills

Anything that you Anything that you PossessPossess

refference

http://s3.amazonaws.com/ppt-download/needs-and-wants-1221100006703422-9.ppt?response-content-

By Amckean,(2014). Needs and Wants

http://www.slideshare.net/amckean/consumer-needs-and-want

http://s3.amazonaws.com/ppt-download/needs-and-wants-1234633069203830-1.ppt?response-content-

By Geckos,(2009). Needs and Wants

http://www.slideshare.net/Geckos/needs-and-wants-presentation-

http://s3.amazonaws.com/ppt-download/needs-and-wants-1229522119817797-2.ppt?response-content-

By Danilouwar,(2009). Needs and Wants

http://www.slideshare.net/danilouwar/needs-and-wants-presentation?qi

file:///C:/Users/General/Downloads/consumerneedsandwants-140224222757-phpapp01%20(2).pptx

By Greara,(2010). Needs and Wants

http://www.slideshare.net/greara/needs-and-wants-powerpoint?

ACCESSED 06 MARCH 2014