Marketing MBA PPT for Consumer behaviour buying decisions _Factors affecting

1. Family Life Cycle
Prof. Abhijeet Pradhan

2. Family Life Cycle Stages

4. • Family life cycle marketing is a method of
selling to consumers based on the stages
of their lives. The definitive family life cycle
marketing model was created in the 1960s
by Wells and Gubar, according to
the Association for Consumer Research.
• The marketing technique takes the size of
a person's family into consideration, along
with a potential customer's age and
professional status. Understanding the
stages of family life cycles will help you
create the best marketing methods to

5. Young and Single
• The young and single demographic includes
those who are unmarried and do not have
any children,
• This demographic is most interested in
buying fashionable clothing and vehicles.
• People in the young and single category will
also buy basic kitchen appliances such as
toasters or can openers, as well as basic
furniture such as beds or couches, but there
are unlikely to splurge on fancier items .
• These consumers make several purchases
that will make them attractive to a potential
mate as well, such as designer cologne,

6. Recently Married Households
• Newly married couples with no children are in
better financial shape than they will be once
they have kids, according to the family life
cycle theory.
• Because they are combining two incomes
and splitting major expenses such as rent
and utilities, they are in have more spending
power than when they were single.
• People in the newlywed category may
purchase high-end furniture that will last for
years, along with life insurance, as a
precautionary tool to keep their potentially

7. Full Nest 1, 2 and 3
• Families in the Full Nest 1 classification
have more children in the home than
adults. The kids in the house are all
younger than 6, the parents rely primarily
on credit for purchases and buy mainly
household necessities.
• These people purchase home-related
items the most during the Full Nest 1
stage.

8. Full Nest 1, 2 and 3
• Full Nest 2 families have children above 6
and older. The house is still dominated
with children, but these individuals tend to
have a little more control over their
finances, as wives who took off work to
raise children are likely returning to work
around this time.
• Necessities, such as groceries and
children's clothing, are still the main
purchases in these homes.

9. Full Nest 1, 2 and 3
• When a family reaches Full Nest 3 status,
its children are older, and in many cases,
the children in the family are also working
or in college. A large portion of the family's
money goes to fund the children's
education, and parents are more likely to
buy high-end furniture items and purchase
vacation packages.

10. Empty Nest 1 and 2
• Empty Nest 1 families have adult children
who are no longer living at home. Home
ownership is very common for this group.
Those in the Empty Nest category are very
likely to spend money on vacations and
hobbies and have plenty of retirement
money saved.
• Empty Nest 2 families have taken a
reduction in income, as the breadwinner is
retired. People in this category most likely
spend significant money on medical care
and prescriptions and will often assist their

11. Solitary survivors
• This can consist of either a widow/widower
who are still working or who are retired.
Their main focus is on savings and their
purchases are dominated by
accommodation and medication mostly.