Value has always been a central role in how we live and construct our lives. Value to consumers is considered the sum of all intangible and tangible benefits minus the sum of all intangible and tangible costs. Tangible value is defined as value that can be perceived by human senses. Similarly, intangible value is value that cannot be perceived by human senses. It is a fact that wealthy people have more money to spend, but does this automatically imply that they focus more on intangible value? In other words, is value predominantly of an intangible nature in a prosperous society? Information on this topic is greatly appreciated and would be useful to all kind of fields, from consumers to producers. Maslow’s hierarchy of needs is a theory that has been widely accepted in our current society. Maslow was interested in finding answers to why humans are driven by specific needs at specific times. After numerous years of research Maslow found an answer. Maslow’s answer was that human needs are arranged in a hierarchy. We can imagine this theory as a pyramid-like shape with at the very bottom the most important needs and on top the least important need. From most important to least important: Physiological, safety, social/belonging, esteem and finally self-actualization needs. Humans will try to satisfy their most important need first and then try to satisfy the next most important (Maslow, 1943). The human mind and brain are complex and thus it is perfectly possible to have multiple motivations from different levels of hierarchy occurring at the same time. According to this theory, the more prosperous world will be more interested in fulfilling higher needs such as social status and thus will have much more intangible value than less pr... ... middle of paper ... ...lation still live in poverty and do in fact look to fulfill their basic needs. Intangible and tangible value exists in both the prosperous and the less prosperous societies. When we assume that Maslow’s hierarchy of needs holds, we can safely say that indeed with wealth comes intangible value. Assuming however, that Maslow’s hierarchy of needs holds is something we cannot safely say. A lot of research has been conducted in this area but as long as there are no better alternatives proven, we can generally accept Maslow’s hierarchy of needs. Works Cited Maslow, A. H. (1943). A Theory of Human Motivation (Vol. 50). Wisconsin, United States of America: Psychological Review. Subramanian, D. (2010). Indian car market lures big guns. Marketing Magazine , 105 (1), 6. Yuan, C. (2013). Business: Intangible value; Online gaming in China. The Economist , 391 (8625), 67.
Maslow believed that there was a hierarchy of five innate needs that influence people’s behaviors (Schultz & Schultz, 2013, p.246-247). In a pyramid fashion, at the base are physiological needs, followed by safety needs, then belonginess and love needs, succeeded by esteem needs, and finally the need for self-actualization. Maslow claimed that lower order needs must be at least partially satisfied before higher level needs are addressed. Furthermore, behavior is dominated by solely one need
society. Much of the world today is based on materialism and the worth of one’s
Everyone has his or her own ideas of how wealth should be distributed properly. Some people believe wealth should be left to family, left for public services, or become the property of others. Others believe that people should not have excess wealth, resulting in non-existent class distinctions. An alternative view is that wealth is not distributed; instead, the wealthy continue to grow wealthier while those in poverty can not escape it and fall further into a life of poverty. The beliefs discussed above come from three different writers. Those writers include Andrew Carnegie, Karl Marx, and Robert B. Reich. These writers all have different opinions on how wealth should be distributed properly.
Maslow hierarchy is a great explanation of human behavior and human needs. The hierarchy is a great explanation on why human behavior is motivated by a desire to satisfy certain needs. It explains how
People have long considered general theories of motivation, and the question regarding the specific motives that direct and energize our human behavior has undergone tremendous speculation. To this day the question still stands: what is it that humans seek most in life? In an effort to answer this question, Abraham Maslow proposed what he called the hierarchy of needs. Maslow theorizes that human beings are motivated to fulfill this hierarchy, which consists of needs ranging from those that are basic for survival up to those that promote growth and self-enhancement (Kassin 300).
In 1954 an American psychologist Abraham Maslow proposed that all people are motivated to fulfill a hierarchical pyramid of needs. At the bottom of Maslow's pyramid are needs essential to survival, such as the needs for food, water, and sleep. The need for safety follows these physiological needs. According to Maslow, higher-level needs become important to us only after our more basic needs are satisfied. These higher needs include the need for love and 'belongingness', the need for esteem, and the need for self-actualization (In Maslow's theory, a state in which people realize their greatest potential) (All information by means of Encarta Online Encyclopedia).
Maslow (1943) stated that people are motivated to achieve certain needs. When one need is fulfilled, a person seeks to fulfil the next one, and so on. The earliest and most widespread version of Maslow's (1943, 1954) hierarchy of needs includes five motivational needs, often depicted as hierarchical levels within a pyramid.
Human thinking can influence everything and especially the way people handle money. While money certainly brings status, it’s acquired mostly for the purpose of attaining personal liberty. However, the biggest thing holding back most people from succeeding and flourishing in terms of money are their thoughts, beliefs and philosophies. Siebold claimed that a person can feel shame, if he/she is “getting rich” in poor communities. Some people who were born poor or in the middle class are still stuck or remain that way because of the way they think about money. It is nearly impossible to contradict the fact that the rich think about money is distinct and unique from everybody else. In this paper, the researchers will not only highlight the differences
Unlike many of his colleagues at the time who were focusing on psychopathology, or what is wrong with individuals, he focused on how individuals are motivated to fulfill their potential and what needs govern their respective behaviors (McLeod)). Maslow developed the hierarchy over time, adjusting from a rigid structure where needs must be met before being able to achieve a higher level, to where the individuals can experience and behave in ways across the hierarchy multiple times daily depending on their needs. The hierarchy is comprised of 5 levels; Physiological, Safety and Security, Love and Belonging, Esteem, and Self-Actualization. The bottom two levels are considered basic needs, or deficiency needs because once the needs are met they cease to be a driving factor, unlike psychological needs. Loving and Belonging and Esteem needs are considered psychological needs, and are different from basic needs because they don’t stem from a lack of something, but rather the desire to grow. Maslow theorizes that individual’s decisions and behavior are determined based on their current level of needs, and the ideal level to achieve full potential culminates in self-actualization; however, operating on this level cannot be achieved until the preceding levels of needs have been
According to Abraham Maslow, an American psychologist, “our actions are motivated in order achieve certain needs.” He believes that, we have an inborn desire to be self-actualized, to be all they can be. In order to achieve this ultimate goal, a number of more basic needs must be met first such as the need for food, safety, love, and self-esteem. He also developed the “hierarchy of needs”, which is a theory of psychological health that highlight the needs mentioned in priority, culminating in self-actualization (Maslow). These needs plays a major role on the path to happiness because fulfilling these needs would lead to fulfilled life; however, it seems like Maslow’s theory would lead you to a cycle of wanting and greed.
Similarly, Maslow's theory also reflects that humans have an internal force to reach their highest potential (Maslow, 1968). Maslow examined the hierarchy of basic human needs and developed a pyramid of requirements which motivates human beings and shapes their personality. At the bottom of his pyramid are found the basic physiological motivations which are necessary for survival such as food and shelter. The next level incorporates the need for safety, both physical and psychological. This is followed by love and belongingness which relate to receiving and giving affection. Presuming the love need is met, the next level up is the need for esteem which includes the feeling of self-esteem and self-respect. At the top of the pyramid stands the complex need for self-actualization which is a meta-need as per Maslow (1964) and we can reach it through peak experiences. It is the highest level of growth when someone reached her or his capacity to the fullest. Maslow estimated that only 1 percent of people ever really fulfil this need (Maslow,
Abraham Maslow did studies of the basic needs of human beings. He put these needs into a hierarchical order. This means that until the need before it has been satisfied, the following need can not be met (Encyclopedia, 2000). For example, if someone is hungry they are not thinking too much about socializing. In the order from lowest to highest the needs are psychological, safety, social, esteem, and self-actualization. The first three are classified as lower order needs and the last two are higher order (Hierarchy, 2000). Without meeting these needs workers are not going to be as productive as they could otherwise. The first three are considered to be essential to all humans at all times. The last two have been argued but are mostly considered to be very important as well.
When determining the value of a good or service a consumer compares the total benefits with the total costs of the product. These costs and benefits are either of a tangible or an intangible nature (Kotler & Keller, 2012). From this it follows that the value of a good or service is also either tangible of intangible. The tangible value can be determined from the attributes of the product, such as its performance and durability. On the other hand, the intangible value is the added value of products and services due to, for instance, their appearance, comfort and safety (Palmroth, 1991). The intangible value of products might be the reason why people in a rich and affluent society tend to spend huge amounts on luxury goods and services, while these products do not always seem to have superior performance. Therefore, one could argue that in a prosperous society, value is predominantly of an intangible nature.
The term value or values is used in a great variety of contexts and has many meanings in everyday language. Value can mean standards, beliefs, principles, moral obligations and social norms, but also desires, wants, needs or interests. Furthermore, value can also mean the worth, importance or significance of a thing or object of interest. This abundance of different meanings is not only found in ordinary speech, it is also evident in the usage of "value" in the social sciences and humanities. As far as philosophy is concerned, the term “value theory” is used in different ways.
Maslow, A. H. (1943). A theory of human motivation. Psychological Review, July 1943. 370-396. Print. 8 Feb. 2014.