Provide two examples, one using a good and one using a service, of marketing mixes that attempt to fulfill one or more of the needs of Maslow's Hierarchy
Provide two examples, one using a good and one using a service, of marketing mixes that attempt to fulfill one or more of the needs of Maslow's Hierarchy
Maslow’s hierarchy of needs was developed by Abraham Maslow. The hierarchy have five categories. These are as follows:
- Physiological needs: These are the compulsory needs for all person. For example: Food, water, sleep, oxygen etc.
- Safety needs: We all need to feel safe. Whether that be physically, financially or job security and health.
- Social needs: We all look for social connections in friends and family.
- Esteem needs: All of us desire to have respect and be respected by others. It includes self-esteem, confidence and a sense of self achievement.
- Self-actualization: This is realizing one’s full potential and this will differ from person to person.
Example of Goods:Car manufactures follows safety needs, physiological needs and social needs of Maslow’s hierarchy of needs. If car manufacturer targeting middle class family, then, they are a...
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