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Lesson 2 Buying and Selling of Products

The document discusses the distinction between human needs, wants, and demands, emphasizing their importance in marketing and entrepreneurship. It outlines Maslow's hierarchy of needs, which categorizes human requirements from basic survival needs to self-actualization. Additionally, it provides examples of products that meet these needs and demands within school and community settings.

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Jaime Buan
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8 views

Lesson 2 Buying and Selling of Products

The document discusses the distinction between human needs, wants, and demands, emphasizing their importance in marketing and entrepreneurship. It outlines Maslow's hierarchy of needs, which categorizes human requirements from basic survival needs to self-actualization. Additionally, it provides examples of products that meet these needs and demands within school and community settings.

Uploaded by

Jaime Buan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 21

Motivation:

Direction: Identify the following


pictures if they are human needs
or wants .
Needs Wants Needs Wants

Needs Wants Needs Wants


Needs Wants Needs Wants

Needs Wants Needs Wants


Needs Wants Needs Wants

Needs Wants Needs Wants


Lesson 2:
Buying and Selling of Products
Based on Needs and Demands
To become an ideal entrepreneur, you must understand the
market and the human motivation for buying and selling a
particular product or service based on needs, wants, and
demands. There are thousands of products and services
available to consumers today so it is wise to always keep
human needs in mind. Ponder on the following questions:

❖ What kinds of products do you like?


❖ Do you need these products?
❖ Would you sell these products?
❖ Would you buy these products?
Human Needs, Wants, and Demands for Buying
Products
Human needs, wants, and demands are basic principles in
operating the field of marketing. Marketing involves all
communicational activities between the seller and the buyer that
aims to induce behavioral change.

Let us first define these simple words:


▪ Needs- are the necessity of people such as food, clothing, and
shelter. People cannot survive without them. Nowadays,
education and healthcare are part of the human needs. These
needs are always bought by consumers. However, you will see a
lot of brands in the market that make it difficult to sell products.
Agricultural products, garment products, and real estate products
are always patronized.
▪ Wants- are goods or services that people desire or wish
to have. Wants are not obligatory part of life. People can
still live even without these products or services. Electronic
products and entertainment industry fall under this
category.
▪ Demands- are a step ahead of wants. It is the
amount of interest to a given product that consumers
are willing to buy at a given price, at a given period.
Figure 1. Maslow’s hierarchy of needs
Abraham Maslow
He is a well-known American psychologist. He
proposed the different levels of needs of human
beings.

The basic needs of man are food, clothing, and


shelter. He called them basic because it pertains to
survival, biological, and physiological needs of
people- things needed in order to live. This level
had been very helpful to all people. Once the need
of a person is satisfied he or she moves to the
next level.
Here is a brief description of Maslow’s hierarchy of needs.
1. Physiological needs or basic needs- are things needed to
survive such as food, water, air, sleep, clothing, and shelter.

2. Security needs or safety needs- are also important for


survival but not as demanding as basic needs. Examples of these
are employment, healthcare, and safe home.
3. Social needs- include the need for belonging, love, affection,
friendship, attachments, and families.

4. Esteem needs- include personal worth, social recognition,


and accomplishments.
5. Self-actualization or self-fulfillment needs- are
personal awareness and have less concern with the
opinions of others.
Selling of Products Based on Needs and Demands in the
School and the Community
Sellers could offer products in the school and the community
based on existing needs and demands. Examples include the
following:
1. Bottled water is one of the most in-demand products in
school and community that can provide a solution to a need.
2. Used clothing commonly known as ukay-ukay business offers
imported products and sometimes overruns sold at a lower
price.

3. Street food such as fishballs, siomai, and assorted kakanin can


be sold the whole day and are offered at a lower price.
4. Baked products such as pandesal, ensaymada, bread loaf,
cakes, and other pastries are equally salable.

5. Assorted fruits such as bananas, green mangoes with


bagoong, sliced pineapple, and sliced watermelon are appealing
as well.
6. Different flavors of ice cream on a cart placed on a cone, cup,
or bread are salable to children and adults alike.

7. Beauty products made of organic and natural ingredients are


popular nowadays too.
In a Nutshell:
✔ To become an ideal entrepreneur, you must understand the
market and consumer’s motivation for buying and selling a
particular product or service based on needs.
✔ Needs, wants, and demands are the basic principles in
marketing.
✔ Abraham Maslow’s hierarchy of needs is very helpful to people.
The knowledge of these needs help entrepreneurs market
their products and services.
Activity:
• Answer assessment letter A
and B on page 15-16.

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