Maslow’s Hierachy of Needs Theory

Abstract

This paper will provide an overview of Maslow’s theory of needs and how it directly applies to effective marketing management. Also to be discussed, are the different stages of the consumer behavior model and how marketing efforts are affected by such concepts. More importantly, this paper will provide an overview of the target market and main competitors in the party bus or escort industry.

Maslow’s Hierachy of needs is a theory created by Abharam Maslow who is a well known expert in the study of human behavior. His hierarchy of needs theory has been considered very influential in a number of different fields outside of human behavioral studies and marketing. Maslow integrated the use of the pyramid to help illustrate the various levels of basic human needs. His theory demonstrates that there are five levels of human needs which include: physiological, safety, social, self-esteem, and self actualization that range from this same order from top to bottom. According to Maslow’s Hierarchy of needs these are the needs of every living human being (Montana & Charnov, 2008). Next, we will take a brief look at each individual need and the details included.

First, human beings need to have their physiological needs fulfilled such as food, water, clothing, shelter, etc,. The next level of needs focuses on safety which is self explanatory. Every human being has to feel a sense of security and protectiveness which can be more accurately described as the need for physical and interpersonal stability. Examples of this need includes: job security, health coverage, and life insurance. Thirdly, every human being has social needs that must be met. It is a known fact that every person craves for love, attention, affection, and a sense of belongingness at some point in their life. Once social needs are met, a person moves on to the next need which is the need for esteem. The