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Maslow's hierarchy of needs and Marketing

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Considering the hierarchy of needs diagram in the Kerin text, what products might be developed for customers in each phase of the hierarchy? As the baby boomer generation reaches retirement age, what products might become more important? What new products might need to be developed to suit this group? What key trends in law, politics, and technology will have significant impacts on product development in the next few years?

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This solution analyzes what products might be developed for customers in each phase of Maslow's hierarchy of needs: As the baby boomer generation reaches retirement age, what products might become more important? What new products might need to be developed to suit this group? What key trends in law, politics, and technology will have significant impacts on product development in the next few years?

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Kerin text clearly illustrates Maslow's hierarchy of needs - a theory in psychology, proposed by Abraham Maslow.

What products might be developed for customers in each phase of the hierarchy?
? Physiological - Various nutritious foods and beverages
? Safety - Various vitamins and/or medication.
? Social Needs - Online dating service or self-help book regarding dating, family or sexual intimacy.
? Personal Needs - Self-help book or DVD on achieving confidence, and increasing self-esteem.
? Self-actualization Needs - Video game for mind-exercise, problem solving.

As the baby boomer generation reaches retirement age, what products might become more important?
As the baby-boomer generation reaches retirement age, they become more concerned with the lower four layers of the ...

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