To satisfy human needs, people and organizations are compelled to engage in social and economic exchanges with other people and organizations.

Maslow's Hierarchy of Needs

In the 1940s, Abraham Maslow created the Pyramid of Needs to explain human behavior. Marketers ever since used the concept of the Hierarchy of Needs in their marketing strategies. Times have changed.

Does Maslow's Hierarchy of Needs still explain consumer's market behavior? Can we use it as managers in our decision-making?