Maslow’s hierarchy of needs theory has existed for many decades and it is used to describe human beings behaviour and needs The theory describes how people have well defined needs which they desire to fulfil according to different degree of emergency. Physiological need is the first stage or the basic need stage which includes food, clothing, shelter, air and sex. Physiological needs are the factors that human beings cannot exist without and therefore they must be met (Lee, 2011).
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'A Study of The Coca-cola Brand Using Maslow Hierarchy of Needs Theory'
Moreover, the next step is the need of safety or security iswhere a person needs to feel secure or no harm can occur to him.The need of affiliation is another step where a person desires to interact with fellow human beings. The higher step in the hierarchy is the need for esteem where a person feels the need to be appreciated by people around him as a valuable person. The need for esteem may occur in a family setting or in a group in which one exists. The need for esteem may occur in an organization which the individual works in. An individual’s esteem may be fulfilled through recognition by status, sex, performance, experience, duration in which the person has been in the organization or by bonuses. The final stage of Maslow’s hierarchy of needs is the indispensablerequirement of self-fulfilment which shows a person’s desire to use all the abilities one has to reach the supreme level that can be reached to feel satisfied and comfortable (Dima, Man , & Kot, 2010).
From the Maslow’s hierarchy of needs, the Coca-Cola company products and the brands can be classified in self-fulfilment or accomplishment level (Donovan, 2003). This is because these beverages are not a necessity, but are used to achieve a need of fulfilment or luxury. Consumers use these commodities to make their lives more comfortable.
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Conclusion
The Coca-Cola Company is a known brand in Australia and it offers a variety of brands. Consumers use the five step process in making decisions on which products to buy by comparing the Coca-Cola products to other substitute products in the market before arriving to the decision of purchasing the products offered by theCoca-Cola Company. The factor that may mostly influence decision making in buying the products is the financial status of the consumer. This is because most people may not afford them therefore, foregoing the products or opting for a cheaper option. In the Maslow’s hierarchy of needs, the products can be classified in the self-fulfilment level since they are just needed to make the consumers more comfortable.
