Family & family life cycle
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Transcript of Family & family life cycle
FAMILY & FAMILY LIFE FAMILY & FAMILY LIFE CYCLE CYCLE
Functions of Family Functions of Family
Economic Well Being Emotional Support Suitable Family Life Styles Socialization of Family Members
Roles in Family Decision MakingRoles in Family Decision Making
Information Gatherer Influencer Gatekeepers Decision Maker Purchaser
Perspectives in Family Perspectives in Family Purchasing Decision Purchasing Decision
Role Structure Power Structure
ROLE STRUCTURE ROLE STRUCTURE
Instrumental & Expressive Roles:– Roles relating to achievement of Particular goal or task &
Giving emotional Support Purchase Process Roles:
– Initiator Role– Influencer Role– Information Gatherer Role – Decision maker Role – Purchaser Role – User Role
Role Load
POWER STRUCTURE POWER STRUCTURE Purchase Influence Pattern:
– Power Relationships within the Family – Autonomic, Husband Dominant, Wife Dominant &
Joint
Alternative Family Decision Making Role Structures :– Parallel Decision Making – Hierarchical Decision Making
Family Life Cycle Family Life Cycle
A series of Predictable Stages A progression of stages through which many
Family members pass It is a composite variable created by systematically
combining demographic variables as Marital Status, Size of Family, Age of Family members & Employment Status
Helps to understand the behavior of consumers at various stages of their lives so as to effectively design the right Marketing Strategy
Family Life Cycle Family Life Cycle
Five Basic Stages :– Bachelorhood : Young Single Adult living
alone– Honeymooners : Young Married Couples with
no children – Parenthood :Married Couples with at least
one child – Post parent Hood: Older Married Couple with
no children at home – Dissolution: One Surviving Spouse
Family Life Cycle Family Life Cycle
Stage One:Bachelor Hood:– Single Working Men/Women – Two Groups:– Living with Parents:
Entertainment, Clothes & Personal Care
– Living Independently: Rent, Home Furnishings, Automobile , Clothes &
accessories
Family Life CycleFamily Life CycleStage Two:Honeymooners :
– Post Marriage before Kids– Lifestyle shifts to Joint Lifestyle – Joint Decisions & Shared Roles – Savings, Household Furnishings, Major Appliances
and host of utensils and accessory items – Movie Tickets, Expensive Cloths and outings
Family Life CycleFamily Life Cycle
Stage Three:Parenthood:– Changes in Lifestyle after addition of child
Three Stages:Full Nest I: Immediately after birth of child
– New Purchase in areas of Baby Clothes, Furniture, Food and Health Care Products
Full Nest II: Improved Financial Position of Family – Better Buying Experiences – Relatively Low Influence of Advertising
Family Life CycleFamily Life Cycle
Full Nest III:Children Start getting employed High Expenditure for Durable Goods, New
Furniture, Luxury Appliances and Cars
Family Life CycleFamily Life Cycle
Stage Four:Post Parent Hood:Children Leave homesEmpty Nest I: Satisfactory Financial Position
– Leisure Time, Frequent Traveling, Vacations & Gifts
Empty Nest II: Low Income – Medical Care, Health Product a& basic necessities
Family Life CycleFamily Life Cycle
Dissolution Stage :– Death of one Spouse – Simple Pattern of living and very economical
Marketing Applications Marketing Applications
Understand the Differences in consumption Patterns of different households
Develop Product & Promotional Strategies with recognition of changing roles & responsibilities
Use Concept of Family Life Cycle as a basis for Segmenting the Markets
Target Products & Services Properly for Family Roles in Decision making