It is always interesting when someone dusts off Maslow’s hierarchy of needs and brings it back to the modern era. While the conceptual gaps that were there from conception are still somehow glossed over , this has to be one of the most enduring pieces of theory taught in many varsity stage one courses. It pops up in Management, Marketing, Human Development, Psychology, and many more disciplines.
The article From Wharton linked below does a great job of framing emerging markets and why they are likely to exist on the back of the Hierarchy of Needs. Interesting information for small business looking to connect with customer needs, establish a niche, or who are forecasting trends and positioning for change.