Family & family life cycle
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Family & family life cycle

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Family & family life cycle Presentation Transcript

  • 1. FAMILY & FAMILY LIFE CYCLE
  • 2. Functions of Family
    • Economic Well Being
    • Emotional Support
    • Suitable Family Life Styles
    • Socialization of Family Members
  • 3. Roles in Family Decision Making
    • Information Gatherer
    • Influencer
    • Gatekeepers
    • Decision Maker
    • Purchaser
  • 4. Perspectives in Family Purchasing Decision
    • Role Structure
    • Power Structure
  • 5. 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
  • 6. 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
  • 7. 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
  • 8. 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
  • 9. 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
  • 10. Family Life Cycle
    • Stage 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
  • 11. Family 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
  • 12. Family Life Cycle
    • Full Nest III :
    • Children Start getting employed
    • High Expenditure for Durable Goods, New Furniture, Luxury Appliances and Cars
  • 13. Family Life Cycle
    • Stage Four:Post Parent Hood:
    • Children Leave homes
    • Empty Nest I: Satisfactory Financial Position
      • Leisure Time, Frequent Traveling, Vacations & Gifts
    • Empty Nest II: Low Income
      • Medical Care, Health Product a& basic necessities
  • 14. Family Life Cycle
    • Dissolution Stage :
      • Death of one Spouse
      • Simple Pattern of living and very economical
  • 15. 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