Our friend Maslow and his 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.
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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?
Required: Share your thoughts with us and scroll through other postings and comment as appropriate to at least one other student.