Maslow’s hierarchy theory of needs has been around for decades. It describes human behavior and needs. The first or basic need stage, physiological, is food, clothing and shelter. Physiological requirements are essential for human survival and must be met (Lee (2011)
Further, the person’s need for safety is next. It is the desire to make friends with fellow humans. The next step is the need for esteem. A person needs to feel valued and appreciated by others around him. Emotional need can be found in the family or within a group. Individuals may need esteem from the organization in which they work. A person’s self-esteem can be satisfied by recognition through status, sex and performance, experience, length of service, bonuses, or other means. Maslow’s final stage is the indispensable requirement of self-fulfillment. This shows a person’s desire use all their abilities to achieve the highest level of satisfaction and comfort (Dima and Man & Kot 2010). These beverages are not necessary, but they are used to satisfy a desire for luxury or fulfilment. These commodities make life easier for consumers.
Conclusion The Coca-Cola Company in Australia is well-known and offers many brands. Before making a purchase decision, consumers use the five-step process. This involves comparing Coca-Cola products to similar products on the marketplace before making the final decision. The most influential factor in the purchase decision is the consumer’s financial situation. Most people won’t be able or able to afford these products so they might choose to skip the purchase or look for a less expensive option. Maslow’s hierarchy identifies products as being self-fulfilling. These products are necessary for consumers to feel more comfortable.
