FAMILY

Why is it Important for Marketers to

know about Families and
Households?
Impart
lifestyle
and
consumption values to their
members
Influential
in
consumption
decisions
Make several joint purchase
decisions
Prime target market for goods
and services

Family
Any group of persons associated by blood or
marriage who resides together is termed as a
family.

Types of families
Married couple
Nuclear family
Extended family

What is the Family Lifecycle (FLC)

A progression of stages through which families
pass starting with bachelorhood, moving on to
marriage, then to family growth, to family
contraction and ending with the dissolution of the
basic unit.
BACHELOR
HOOD

HONEYMOON
ERS

DISSOLUTION

PARENTHOOD

POST PARENT
HOOD

Why is it of value to understand the

family life cycle?
At each stage members have new consumption
patterns
As interests change so too does the ability to
reach them.
Purchasing decision process changes
Basic strategy is how to keep customers
through the FLC

STAGES OF FAMILY LIFE CYCLE

BACHELORHOOD
(Young single people not living at home):
(a) Few financial burdens
(b) Fashion/opinion leader led
(c) Recreation orientated
(d) Experiment with personal financial management
(e) men and women differ in consumer behaviour
women more housing-related items and
furniture
men more on restaurants and cars
(f) buy: basic kitchen equipment,
basic furniture, cars, holidays.

HONEYMOONERS
(a) Better off financially than they will be in the
near future,
(b) High levels of purchase of homes and
consumer durable goods,
(c) Establish patterns of personal financial
management and control;
(D) Buy: cars, fringes, cookers, life assurance,
durable furniture, holidays

PARENTHOOD
Starts with the birth of the first child and
generally extends over more than a 20 year
period.
Due to its long span, the financial resources
changes too as the parents get indulged in child
rearing and educational responsibilities.

POSTPARENTHOOD
When all children have departed from the home.
Also called empty-nest stage.
The couple tends to be most comfortable
financially and have more leisure time.
Have higher disposable incomes due to savings
and investments and fewer expenses.
So, they are an important market for luxury
goods, new automobiles, expensive furniture &
vacations to far away places.
Have an inclination towards using television as
an important source to keep themselves
updated.

DISSOLUTION
It occurs with the death of one spouse.

The 8 Roles of family decision

making process

Influencers
Gatekeepers
Deciders
Buyers
Preparers
Users
Maintainers
Disposers

Thank you