Maslow's Hierarchy of Needs Applied to Marketing

Flashcards covering key concepts from Maslow's Hierarchy of Needs as it applies to marketing, consumer behavior, and decision-making.

Maslow’s Hierarchy of Needs

A psychological theory proposed by Abraham Maslow which categorizes human needs into a five-level pyramid, from basic physiological needs to self-actualization.

Physiological Needs

The most basic human needs essential for survival, such as food, water, and shelter.

Safety Needs

The requirement for security and protection from physical and emotional harm.

Social (Belonging) Needs

The human desire for relationships, friendships, and a sense of belonging.

Esteem Needs

The need for respect, self-esteem, and recognition from others.

Self-Actualization Needs

The desire to realize one's full potential and achieve personal growth.

Buying Motive

The reason why a consumer seeks out a particular product.

Impulse Decision

A spontaneous purchasing decision made without prior planning.

Routine Decision

A purchasing decision made with minimal thought and effort.

Limited Decision

A purchasing decision that requires some thought and consideration.

Extensive Decision

An in-depth and careful consideration when making a significant purchase.

Word-of-Mouth

Informal communication about products or services between consumers, which can significantly influence purchasing behavior.

Reference Group

A group of people whose opinions and values are influential in shaping an individual's behavior and decisions.

Cognitive Dissonance

The psychological discomfort experienced when holding conflicting beliefs, which can occur after making a purchase.