Life cycle marketing

The family life cycle represents a method via which the market for certain goods and services is segmented according to the stage in the family life that the particular consumer has reached. This marketing method takes into consideration the family configuration beginning with young, single persons with no children all the way up through marriage, child rearing, and retirement stages. The variables involved in each stage of the model include age, marital status, income, employment (career), and the existence of children (Fritzsche, 1981).

One stage in this model is the bachelor stage, which describes persons who no longer live with parents but who have not married or become parents. They usually have a high level of discretionary income despite the fact that their incomes lower than average. Because of the fewer financial burdens (mortgages, children, etc.) and their commitment to recreation, such persons are usually interested in buying clothing, travel, and basic household furniture or equipment.

One magazine that could be used as a marketing tool is People, and TLC’s What Not to Wear represents a television program that would be suitable to this group. Both would be effective as they cater to fashion and to the entertainment interests of that group.

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The Full Nest Three stage describes older parents with high school or college age children. These persons have a better financial position, with wives likely to be at work and more discretionary income (Fritzsche, 1981). Such a household is likely to be interested in buying holidays, nice furniture, and sophisticated appliances. A good magazine for marketing to such a demographic is Travel and Leisure, as such persons are likely to have the money and time to take vacations. A good television channel for marketing to them is HGTV, as this features tastefully decorated homes that may give them ideas for buying furniture and appliances.
Reference

Fritzsche, D. J. (1981). “An analysis of energy consumption patterns by stage of family life        cycle.” Journal of Marketing Research, 18, pp.227-32.

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