Maslow Need Hierarchy Theory - EMKT503
Maslow Need Hierarchy Theory
Maslow Need Hierarchy Theory explains that human needs develop in stages. The basic needs come first and higher-level needs become important after lower needs are reasonably satisfied.
Five Levels
- Physiological Needs: food, water, shelter, sleep and basic survival.
- Safety Needs: security, law, order, stability and protection.
- Love and Belonging Needs: family, friendship, affection and acceptance.
- Esteem Needs: self-respect, achievement, prestige and status.
- Self-Actualization: personal growth and realization of potential.
In marketing, this theory helps marketers understand customer motivation and design products according to different levels of needs.
Important Keywords
Maslow theory, need hierarchy, EMKT503 theories, marketing theories