Explain Psychological model of Consumer Behavior


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consumer decision 1

 

Psychological model:-

Abraham Maslow’s model explains the various needs of a person. The human factor always moves towards satisfying certain basic needs as explained by Maslow.

Therefore, a study of why and how a consumer is motivated to buy certain products services helps us in understanding the consumer behaviour.

  • Self Actualization needs:
  • (Self-fulfilment)
  • Esteem Needs or Ego Needs:
  • (Prestige , status , etc.)
  • Social Needs:
  • (love , affection , friendship , etc.)
  • Safety and security Needs:
  • (protection , order , stability etc.)
  • Physiological Needs:
  • (Food , water , air , clothing , sex, needs)
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