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Family
Any group of persons associated by blood or
marriage who resides together is termed as a
family.
Types of families
Married couple
Nuclear family
Extended family
HONEYMOON
ERS
DISSOLUTION
PARENTHOOD
POST PARENT
HOOD
BACHELORHOOD
(Young single people not living at home):
(a) Few financial burdens
(b) Fashion/opinion leader led
(c) Recreation orientated
(d) Experiment with personal financial management
(e) men and women differ in consumer behaviour
women more housing-related items and
furniture
men more on restaurants and cars
(f) buy: basic kitchen equipment,
basic furniture, cars, holidays.
HONEYMOONERS
(a) Better off financially than they will be in the
near future,
(b) High levels of purchase of homes and
consumer durable goods,
(c) Establish patterns of personal financial
management and control;
(D) Buy: cars, fringes, cookers, life assurance,
durable furniture, holidays
PARENTHOOD
Starts with the birth of the first child and
generally extends over more than a 20 year
period.
Due to its long span, the financial resources
changes too as the parents get indulged in child
rearing and educational responsibilities.
POSTPARENTHOOD
When all children have departed from the home.
Also called empty-nest stage.
The couple tends to be most comfortable
financially and have more leisure time.
Have higher disposable incomes due to savings
and investments and fewer expenses.
So, they are an important market for luxury
goods, new automobiles, expensive furniture &
vacations to far away places.
Have an inclination towards using television as
an important source to keep themselves
updated.
DISSOLUTION
It occurs with the death of one spouse.
Influencers
Gatekeepers
Deciders
Buyers
Preparers
Users
Maintainers
Disposers
Thank you