consumer decision 1

Advertisement

 

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)

Advertisement
The following two tabs change content below.
8 Comments

Leave a reply

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2020 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp
or

Log in with your credentials

or    

Forgot your details?

or

Create Account