Maslow’s theory of motivation

Maslow’s theory of motivation:

This theory states that needs motivates consumers. There is a hierarchy of consumer needs. They range from the most pressing to the least pressing. Consumers take a step by step approach and satisfy most pressing needs first. Satisfied need do not motivate. Unsatisfied needs influence consumer behavior.

·         Physiological needs: these includes the basic survival needs for food, water, clothes, shelter, clothing, etc.

·         Safety needs: they consist of needs for security and protection from harm, ill-health, and economic deprivation.

·         Social needs: they consist of needs for sense of belonging, love, friendship and social acceptance.

·         Esteem needs: they consist external needs for status, recognition, praise and prestige,

·         Self-actualization needs: they consist of needs for achievement, creativity, talent utilization, self-fulfillment and personal growth.