Paragon Worldwide Acquisitions Reviews 'Hierarchy of Needs' Strategy

    GALWAY, IRELAND, September 23, 2015 /24-7PressRelease/ -- 'It doesn't matter how much time and money a business invests in a product, if there is no demand for it from consumers then that business will undoubtedly fail' warns Carlton Roach of Paragon Worldwide Acquisitions, a fresh and proactive sales and marketing firm based in Galway, Ireland. The customer/brand relationship is fairly complicated, whilst a business cannot survive without customers, customers have such a wide variety of choice that they don't feel any responsibility when it comes to helping a particular business grow, and why should they? For a consumer, a business' primary role is to satisfy their needs and if a brand fails to do so, they have no drive or motivation to carry on supporting that business.

About Paragon Worldwide Acquisitions : http://www.paragonacquisitions.co.uk

In order to attract and maintain a solid customer base, Paragon Worldwide Acquisitions are urging businesses to therefore consider what it is their customers want with more care. The firm believe that each product and service should be centred on the needs of the target audience, and that businesses needs to ensure they have a clear and defined understanding of their customer before making and big or costly decisions. Recently, to help clarify the importance of understanding consumer need, the firm looked into research conducted by psychologist Abraham Maslow, who taught at Brandeis University, Boston. Maslow's work concluded that 'all customers are goal seekers who gratify their needs by purchase and consumption' and in order for business to facilitate their customers in reaching these goals, Maslow identified the following five-stage pyramid he called the 'hierarchy of needs'.

Physiological: This is the first, most basic stage of need. This refers to essentials such as food and water; no higher needs will be felt if a person is without these essentials.

Safety: the second stage of the Hierachy of needs in safety, all consumer want to feel safe and secure with a business, and those that don't are unlikely to move further up the hierarchy which is bad news for businesses looking to make further sales down the line.

Social: the need to be social and 'belong' is a key need for consumers once the two previous needs have been met. Some companies such as Apple use a strong brand an enticing culture to build a sense of belonging, others may organise groups and clubs where consumers can meet with each other and access new products and services.

Esteem: This stage refers to when customers are focused on self-respect, achievement, attention, recognition and reputation. this stage reflects when a customer is keen to purchase something as they believe that it will make others will think better of them, such as a designer handbag or goods that flaunt a particular brand.

Self-actualisation: This is the summit of Maslow's hierarchy in which people are looking for truth, wisdom, justice and purpose. At this point the majority of customers will be unable to fulfil their goals and reach satisfaction due to limited resources and funds.

Paragon Worldwide Acquisitions believe business can learn a lot from Maslow's Hierachy and use it to identify how they should be reaching out to consumers in the future. Firm's own business model is tailored to meet consumer needs, and they are always able to stay up to date about consumer trends through face to face interaction, which provides them with the feedback necessary for further product development and the personalisation of the overall customer experience.

Paragon Worldwide Acquisitions design and implement effective direct marketing campaigns that are designed to generate quality sales and deliver a high ROI for their clients.

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