Read the following article, and make some brief notes on the questions below:
https://www.forbes.com/sites/work-in-progress/2014/03/05/the-psychology-and-philosophy-of-branding-marketing-needs-and-actions/#655a4d3f725a
Your answer to each question should be no more than 200 words long (meaning that you will be writing up to a total of 800 words for this task).
i. What do you think the author means by her opening statement, “consumers build brands, not companies”? Do you agree with this? Why?
ii. With reference to Maslow’s ‘Hierarchy of Needs’, the author claims that “as you travel up the hierarchy, each need becomes less essential for survival and more emotional.” Do you agree with this? Do you think that some needs are more important and motivating that others?
iii. Do you think there is a difference between consumer ‘needs’ and consumer ‘wants’? If so, what? Is it necessary or useful to distinguish between the two constructs?
iv. Do marketers create needs and wants in consumers? Can you give a specific example to illustrate your argument?
