Needs vary from customer to customer and from time to time. Most needs are specific. However, more general needs are common to most human beings, and that impact most purchase decisions. Following is a discussion of five theories addressing the drivers of purchase behaviour. These theories have their deficiencies, and none provide a comprehensive account […]

Needs vary from customer to customer and from time to time. Most needs are specific. However, more general needs are common to most human beings, and that impact most purchase decisions. Following is a discussion of five theories addressing the drivers of purchase behaviour. These theories have their deficiencies, and none provide a comprehensive account of the drivers of purchase behaviour. All are, of course, generalised and may not apply to each individual customer. That said, they all provide some valuable insights into the drivers of consumer behaviour. To drive sales – facilitate self-actualisation.  Most readers will have heard of Maslow’s Hierarchy of needs. Abraham Maslow’s paper ‘A theory of human motivation‘ was first published in 1943. It remains a pillar of modern psychology and sociology. This theory proposes five levels of need: Physiological – food, clothing, and shelterSafety – including personal securityLove and belonging – relationships and connectionEsteem – accomplishment…