Why Is Maslow's Hierarchy of Needs Important to Marketing

question 96

Essay

Why is Maslow's hierarchy of needs important to marketing?

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Definitions:

Hierarchy

An organizational structure that ranks individuals or elements according to levels of importance, authority, or seniority.

Organizational Buyers

Entities that purchase products or services for use in the production of other goods and services, for resale, or for the organization's operations.

Distributors

Entities or individuals responsible for delivering a company's products from the manufacturer to the ultimate consumer or retailer.

Consumer Markets

Markets that consist of individuals and households that purchase goods and services for personal consumption.