Marketing and selling skill

Maslow’s hierarchy of needs

Maslow’s hierarchy of needs is given below:

1. self-actualization needs (self development & realization)
2. esteem needs (self esteem, recognition, status)
3. social needs (sense of belonging, love)
4. safety needs (security, protection)
5. physiological needs (hunger, thirst)

Maslow's hierarchy is one of the first theories as a basis for understanding consumers' motives for action. Marketers have looked towards consumers' needs to define their actions in the market. If producers design products meeting consumer needs, consumers will more often choose those products over those of competitors. Whichever product better fulfils this void will be chosen more frequently, thus increasing sales.