Maslow's Hierarchy of Needs: McToy Case Study
What need does having a McToy fulfil?
A person has many needs at any given time. Abraham Maslow sought to explain why people are driven by particular needs at particular times. According to him, human needs are arranged in a hierarchy (refer to Figure 1), from the most pressing to the least pressing. In order of importance, they are physiological needs, safety needs, social needs, esteem needs and self-actualization needs. The most basic level of needs must be satisfied first before desiring higher level needs.
Figure [ 1 ]: Maslow's Hierarchy of Needs
Figure [ 1 ]: Maslow's Hierarchy of Needs
Therefore, having a Mctoy fulfils the forth level needs, called as ‘Esteem Needs’. Self-esteem is the desire for status, self-respect and prestige. Owning the series of Hello Kitty dolls has gained a sense of fulfilment to the individual because it is not that easy to get the limited edition toys at any time.
Besides that, the ‘Kiasu’ attitude which is very popular among Singaporeans to have something which everyone else is having, regardless of whether it is of any use. The fear of losing out drives the feeling to fulfil their esteem needs, where they are happy knowing they too have one like others.
In order to fulfil the esteem need, people are often engaged in either profession or hobby to gain recognition. For those who loves collecting dolls, use this hobby as a platform to gain recognition from others so that they will be praised. Thus, they feel that by owning the series of hello kitty dolls can make them gained recognition.
How has McDonald’s created value to its consumers by offering Hello Kittty dolls in their Extra Value Meals?
Marketing experts, Don Peppers and Martha Rogers say that
‘The only value a company will ever create is the value that comes from customers.’
Customer value is the relationship between the consumers perception of benefits they believe they will derive from a purchased compared to the price that will be paid.
A person has many needs at any given time. Abraham Maslow sought to explain why people are driven by particular needs at particular times. According to him, human needs are arranged in a hierarchy (refer to Figure 1), from the most pressing to the least pressing. In order of importance, they are physiological needs, safety needs, social needs, esteem needs and self-actualization needs. The most basic level of needs must be satisfied first before desiring higher level needs.
Figure [ 1 ]: Maslow's Hierarchy of Needs
Figure [ 1 ]: Maslow's Hierarchy of Needs
Therefore, having a Mctoy fulfils the forth level needs, called as ‘Esteem Needs’. Self-esteem is the desire for status, self-respect and prestige. Owning the series of Hello Kitty dolls has gained a sense of fulfilment to the individual because it is not that easy to get the limited edition toys at any time.
Besides that, the ‘Kiasu’ attitude which is very popular among Singaporeans to have something which everyone else is having, regardless of whether it is of any use. The fear of losing out drives the feeling to fulfil their esteem needs, where they are happy knowing they too have one like others.
In order to fulfil the esteem need, people are often engaged in either profession or hobby to gain recognition. For those who loves collecting dolls, use this hobby as a platform to gain recognition from others so that they will be praised. Thus, they feel that by owning the series of hello kitty dolls can make them gained recognition.
How has McDonald’s created value to its consumers by offering Hello Kittty dolls in their Extra Value Meals?
Marketing experts, Don Peppers and Martha Rogers say that
‘The only value a company will ever create is the value that comes from customers.’
Customer value is the relationship between the consumers perception of benefits they believe they will derive from a purchased compared to the price that will be paid.