You are planning to start a new business next year, so you are finalizing your business plan now. You know there is a high failure rate for new small businesses, so you want to increase your chances of success by selling products that consumers absolutely need regardless of whether the economy is in a recession or not. You want to sell products that you know consumers will buy before they buy any other products because your products satisfy their most basic needs.
Based on this information, you should focus your new business on selling products that satisfy consumers':
- social needs.
- safety needs.
- self-actualization needs.
- physiological needs.
- esteem needs.