How The Family Life Cycle Stages Can Influence Consumer Behavior Your Family Life Cycle Stage Affects Your Consumer Behaviour

This video is focuses n the question of how family life cycle stages can influence consumer behaviour. It also covers Family lifecycle stages and marketing strategy.
In this video Dr Catherine Ngahu, talks about the influence of family lifecycle stages on consumer behaviour, and family life cycle stages role in marketing strategy. Family life cycle concept is an important sociological concept in understanding consumer behaviour and developing marketing strategy.
Understanding how family lifecycle stages can influence consumer behaviour is important for all kinds of businesses. The family is a core unit of society which is key in consumption. Family lifecycle stages influence consumer behaviour because of different needs and wants. Family lifecycle stages concept shows how marketers classify family units in order to understand their consumer behaviour and consumer decision making.
Family lifecycle shows the behaviour of consumers in their social settings. Family lifecycle (FLC) is a strategic tool for marketers.
This video looks at family lifecycle stages of bachelorhood, honeymooners, parenthood and so on.
Businesses, and marketers particularly, pay close attention to the family unit and the family life cycle stages, because of its influence on consumer behaviour. for the purchase and consumption of most products and services. Many consumer goods businesses make products and services targeted at the family unit.

This video covers:
- Definition of the concept of family life cycle (FLC)
- How marketers classify family units and
- The definers of the five family life cycle stages
- How markets develop strategies to serve different consumer market segments
- Family Lifecycle as a strategic tool for marketers
- How FLC uses Information on demographics, such as marital status, family size,
age of members and income status of the head of house hold to help interpret
consumption needs.
- The traditional family life cycle progression of the stages that many people pass
through in life
- Family lifecycle and their impacts on consumption choices
- A detailed discussion of each of:
- Stage I: Bachelorhood
- Stage II: Honeymooners
- Stage III: Parenthood
- Stage IV: Post parenthood
- Stage V: Dissolution
- Impacts of our fast-changing society on consumer behaviour
- How marketers seek to understand about the shifts within the family in order to develop effective marketing strategy and enhance communication appeals

By Dr Catherine Ngahu
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00:00 Family and consumer behaviour
05:31 Bachelorhood family lifecycle stage
08:12 Honeymooners and family lifecycle stage
08:59 Parenthood and family lifecycle stage
11:17 Post parenthood and family lifecycle stage
15:40 Dissolution and family lifecycle stage