Question

write the essay 300 worlds about the maslow of one company ( nike ) which is applied in management

Answer 1

Maslow's Law of Hierarchy

Maslow's Law of Hierarchy was invented by Abraham Maslow, a professor of Psychology from Columbia University. Maslow's view was to focus on the positive qualities of people, thus he proposed a theory of human motivation that relates to the stages of growth in humans.

The Hierarchal Model

Going by order of human needs from bottom to top it keep changing from time to time.

- Physiological needs are basic requirements a man needs to survive example: Food, Clothing & Shelter.

- Once the physiological needs are met, the need for safety and security takes over. Financial, job security, family security against war, natural disasters.

- Love/Belonging refers to the social needs of love and a sense of acceptance. Bonding with family and friends are a few of the examples.

- Esteem needs are the fourth level that describes the need for strength. accomplishment, respect & recognition.

- The last and the highest level of Maslow's hierarchy is self-actualization. Self-realization refers to an understanding of personal self and self-potential for seek self growth.

Nike's Maslow Hierarchy

Founded in 1964, Nike is a renowned American MNC involved in the business of footwear, sportswear & sports accessories, etc all over the world. Nike was founded by Bill Bowerman & Phil Knight.

Nike's target customers are athletes, gym & sports enthusiasts, people living in urban & metropolitan cities & high-income groups. After having set its focus on high-income people, Nike has succeeded to position itself as a most valuable sportswear brand selling premium quality products that are technologically advanced.

Nike as a brand has figured out the need to satisfy the desire of fitness for people living in urban and metropolitan cities through its products.

As a sportswear product company, Nike has tried to satisfy the combination of Maslow's theory of needs as follows:

Psychological Needs - The products of Nike satisfy a man's basic psychological need of wearing shoes, clothes comfortably.

Safety Needs - Nike's products are technologically advanced and high in quality. They ensure that the consumer is protected from any kind of injury.

Esteemed Needs - People purchase Nike's products because of its status symbols and highly-priced.

Nike has developed its competitive advantage by understanding the consumer behaviour in high society. An understanding of self-actualization has helped Nike convey its message to the target audience and come out as a strong brand personality thus having an edge over its competitors and influencing people's purchasing decisions.