According to Abraham Maslow's Hierarchy of Needs, Human Beings Have

question 33

Multiple Choice

According to Abraham Maslow's hierarchy of needs, human beings have five levels of needs they are constantly seeking to satisfy. Marketers who are knowledgeable of the hierarchy of needs are able to manufacture products accordingly and develop marketing strategies that help make consumer purchase decisions easier. Amos is in the market for a luxury car and has been researching different brands, their costs, and expenses associated with maintaining these vehicles. The luxury car commercials he has seen deal with social status, feeling good, and the esteem needs of potential consumers. For the most part, all of the brands he was considering were similar until he saw an ad for a luxury car company that was highlighting efficiency rates of the car's airbags and seat belts in crash control tests. Amos decided to buy this company's all wheel drive model since it satisfied his desire to have higher status, belong to an exclusive group of people who own this brand of car, and be protected or feel secure in the vehicle if it were involved in an accident.
Which of the following statements can be inferred from the scenario provided above?
​

• A) Amos's decision to buy a luxury car was an impulsive purchase decision.
• B) Amos was able to reach self-actualization with his purchase of the luxury car.
• C) Amos's decision about which car to purchase was ultimately based on his self-esteem.
• D) Marketers who consider Maslow's hierarchy of needs in their advertising campaigns sell more product.
• E) A consumer purchase decision may be informed by more than one aspect of Maslow's hierarchy of needs.

---

Definitions:

Misappropriation Theory

A theory in securities law that prohibits the trading of a company's stock or other securities by individuals who have access to non-public information about the company, under the belief that it is unfair to other investors who do not have access to the information.

Insider Trading

The unauthorized act of buying and selling stocks for personal gain by leveraging secret information.

Securities Regulation

The body of laws and rules governing the issuance, trading, and sale of securities to protect investors and ensure market integrity.

Stock Market Crash

A stock market crash is a rapid and often unanticipated decline in stock prices across a significant cross-section of a stock market, resulting in a loss of paper wealth.