Abraham Maslow's hierarchy of needs (1943) explains that basic needs drive staple purchases, while higher-level needs like self-esteem or belonging drive luxury purchases, such as high-end handbags.

Authors

• Person: Not available Organization: iResearchNet
  Marketing and Consumer Psychology - iResearchNet

Sources

• Marketing and Consumer Psychology - iResearchNet business-psychology.iresearchnet.com iResearchNet via serper

Referenced by nodes (1)

• belonging concept