MODELS OF CONSUMER BEHAVIOUR - Maslow's Theory
Abraham Maslow
Abraham Maslow suggested a model based on which consumer markets their decisions. According to him motivation is the prime factor, which is divided in to various levels & this essentially dictates the behaviour of individual. According to him there are five levels of motivation which the consumer tries to satisfy in a sequential order.
Any individual would satisfy the level 1 and then only proceeds to level 2 and so on. The pressing need is satisfied in the order of these levels. A hungry person would not be interested in satisfying his esteem needs; rather he would try to satisfy the basic needs i.e. to purchase something which would satisfy his hunger. Immediately after this stage he will not try to satisfy any other need other than level 2.
Maslow’s theory helps marketers’ to understand how various products fit in to the plans, goals & lives of the customers. This serves as an important model in understanding the consumer behaviour because markets can anticipate / forecast the needs their customers & can cater to their needs depend up on their existence level.
Source: Books & Notes
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By: Management Duniya
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