Q=1: Explain the factors that affect reference group influence on consumer behavior.
Q=2. Explain in detail Maslows Hierarchy of Needs theory in detail by giving example from consumer behavior aspect.
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1. Many factors pertaining to Reference Groups tend to influence consumers and their purchase related decisions. Three factors concerned with Reference Groups are Norms, Status and Roles. (1) Norms are rules set by Reference Groups in writing.
2.Maslow's Hierarchy of Needs Theory
Maslow proposed that motivation is the result of a person's attempt at fulfilling five basic needs: physiological, safety, social, esteem and self-actualization. ... Safety needs include those needs that provide a person with a sense of security and well-being.
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