Welcome to the winter of our discontent.
We are poorer . . . have record pessimism and fear . . . yet are hopeful that the new breeze will invigorate us. This is what the latest research on consumer attitudes and expectations tells us. For all of us, these economic times mean a first-time trip DOWN Maslow’s Hierarchy of needs. For the last 60 years, developed country citizens have been travelling UP the pyramid. We have spent our time and money embracing social and spiritual values, distancing ourselves from the more primal needs.
Two recent data points illustrating the downshift: Gun sales have soared by 60% since the November election. More than half of America’s opera companies have cut or eliminated their season schedules since October.
Ironically, Abraham Maslow first created his Theory of Human Motivation in 1943. While it was characterized by global war, it was also a time of economic renewal. Americans were emerging from the Great Depression, and were able to look at meeting more than their basic needs for safety and survival. Once the war was won, people could turn toward expanding their personal and social horizons.
The technology and innovation brought to fruition from this explosion of human potential have defined our world and have created the American economic miracle. Do we REALLY think the last 60 years of growth are coming to an end? That somehow, we have peaked and the road only leads downward? We do not think so. Innovation is alive and well.
Consumers want the comfort of hope. They want to embrace the new, if it can be made affordable and understandable to them. As marketers, we need to use this time of turmoil to look beyond the derivative re-spin of old products . . . to true innovations that meet peoples’ needs up and down Maslow’s Hierarchy.
Have a very happy new year and prosperous 2009!
We are poorer . . . have record pessimism and fear . . . yet are hopeful that the new breeze will invigorate us. This is what the latest research on consumer attitudes and expectations tells us. For all of us, these economic times mean a first-time trip DOWN Maslow’s Hierarchy of needs. For the last 60 years, developed country citizens have been travelling UP the pyramid. We have spent our time and money embracing social and spiritual values, distancing ourselves from the more primal needs.
Two recent data points illustrating the downshift: Gun sales have soared by 60% since the November election. More than half of America’s opera companies have cut or eliminated their season schedules since October.
MASLOW’S HIERARCHY OF NEEDS
Ironically, Abraham Maslow first created his Theory of Human Motivation in 1943. While it was characterized by global war, it was also a time of economic renewal. Americans were emerging from the Great Depression, and were able to look at meeting more than their basic needs for safety and survival. Once the war was won, people could turn toward expanding their personal and social horizons.
The technology and innovation brought to fruition from this explosion of human potential have defined our world and have created the American economic miracle. Do we REALLY think the last 60 years of growth are coming to an end? That somehow, we have peaked and the road only leads downward? We do not think so. Innovation is alive and well.
Consumers want the comfort of hope. They want to embrace the new, if it can be made affordable and understandable to them. As marketers, we need to use this time of turmoil to look beyond the derivative re-spin of old products . . . to true innovations that meet peoples’ needs up and down Maslow’s Hierarchy.
Have a very happy new year and prosperous 2009!
