Banking · Consumer Behavior in Banking
In the context of Maslow's Hierarchy of Needs applied to retail banking, a consumer who has already secured a stable job, purchased a house with a mortgage, and maintains a comprehensive health insurance policy is most likely to express a requirement for which of the following categories of banking services to satisfy their next level of hierarchical needs?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Micro-finance loans and small-scale credit facilities for meeting urgent agricultural or small business expenses.
- 2Gold cards, elite banking programs, and personalized relationship management services that offer social status and recognition.✓
- 3Personal accident insurance and term life insurance to provide a safety net for their immediate family members.
- 4Basic savings and current accounts to facilitate daily transactional requirements and liquidity management.
Correct answer
Gold cards, elite banking programs, and personalized relationship management services that offer social status and recognition.
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