Can some one assess in the context of consumer behavior, Maslow’s Heirarchy of Needs Theory.

Briefly explain the concept of Maslow’s Heirarchy of Needs Theory that is a major component of Consumer Behavior. Provide a detail description.
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"The Heirarchy of Needs Theory, proposed by Abraham Maslow, a clinical psychologist in 1943, is regarded as one of the most important contributions to the field of motivational research. Maslow proposed that human needs could be classified into five basic levels, viz., basic /primary needs, safety/security needs, social/affiliation needs, ego/esteem needs and self-actualization needs. According to the theory, these needs are hierarchical and an individual will go level by level, starting first with the fulfillment of the lower-order needs (basic/primary needs, safety/security needs) and gradually move towards the fulfillment of the higher-order needs (social/affiliation needs, ego/esteem needs and self-actualization needs). A person cannot move to the second level unless the first level is satisfied. Once a level is satisfied, it ceases to be a motivator and the moves to the next. The theory was indeed a pioneering piece of work and has been versatile enough to be applied across social science disciplines. Consumer behaviorist have found the versatility of the theory highly useful while testing consumer motivation. The five needs and the terminology has been universally used and tested across disciplines. The need classification is generic enough to include needs that individuals possess. However, critics argue that the pyramidical structure fails the test of real life situations and practical testing. Even consumer behavior researchers have pointed out its limitation especially in terms of consumers moving hierarchically across needs from lower levels to higher levels. Consumers experience multiplicity of needs and wants and often satisfy them simultaneously rather than looking at their relativity. Consumers also often sacrifice one need for another. Source:"
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