Global rescission in the economy calls for adopting NAW Approach of needo-marketing: Prof. M.M. Goel
Kurukshetra, March 02- NAW (need, affordability and worth of the goods ) approach of need-marketing is necessary for coming out of the global recession, believes Prof. Madan Mohan Goel, Former Vice-Chancellor known as founder Needonomics School of Thought superannuated from Kurukshetra University. He was addressing the participants of the Fifth IP & Innovation Researchers of Asia (IPIRA) HYBRID Conference organised by Nan yang Technological University, Singapore. His topic was “ Relevance of NAW Approach of Needo-Marketing for Recession in Global Economy ” with co-author Ms Gunjan Sharma
The potential middle-class consumers with needo-consumption have the responsibility to uplift producers with needo-production and vice versa, said Prof. Goel.
Global Economy can be people-friendly and socially beneficial only if undertaken in accordance with the NAW approach of needo-marketing by creating a need for the product, making it affordable and price worth of the goods, told Prof. Goel.
For the revival of the global economy, we need street SMART (simple, moral, action-oriented, responsive and transparent) citizenry as consumers, producers, distributors and traders along with needonomics in the present economic scenario of materialism and consumerism, explained Prof. Goel.