Family Life Cycle and Marketing

FamilyLife Cycle and Marketing

Question1.

Afamily life cycle refers to any kind of a family in which theconsumer can be found. The cycle on the marketing can be shown bythe consumer behavior. It shows different consumption for differenthouseholds, as they progress through the life cycles and assist inthe analysis of the wants and demands throughout the stages of thelife cycle (Oster, 2006). These stages are

  • Bachelor

  • Engaged

  • DINKS or Double Income No Kids

  • SINKS or Single Income No Kids

  • Married and have children or are single

  • Empty nesters

Peopleprogress through their family life cycle throughout their lifetime.As a result, their needs changes on various stages. For a bachelor,their financial ability is small and are mainly targeted inrecreational areas. The engaged couples like to buy durable goods,such as cars, since they have a lot of money. For the married withkids, they spend more on the household goods, like furniture. TheDINKS and SINKS are mostly targeted by the Marketers, since they havea lot of optional incomes with no children to spend money on, hencethey use their income on personal uses such as paying rent and forholidays (Goldman, 2012).

EmptyNester

Emptynesters are persons whose children have grown up and have gottenmarried or live on their home. This stage consists of mainly a widowor a widower who have retired or still working (Oster, 2006). Theyaim mainly to save and their purchases are dominated by accomodationand medication as a result of old age. The four products to be soldto the empty nester are the:

  1. Wheelchair and scooters

  2. Walking aids and crutches

  3. Blood pressure and glucose monitors

  4. Vaporizers and nebulizers

TheTV show is the Empty Nest Tv Show which is about the widowed doctor.

Thebest magazine to be Westchester Magazine, which talks about the bestplaces to live and enjoy old life.

Question2

PlanningAccordingto Goldman (2012),purchasesby business are made in advance, but it is impulse for consumers.Decisions by consumers on purchases are usually made in a short time.Therefore, to accommodate the consumer and business purchases, it isimportant to enable a business plan, the purchases and still able tooffer consumer impulse buying Decision-making

Inthe consumer buying process, the consumer decision maker is anindividual, but in a business purchasing process, the idea is begunthen goes through an approval stage. The final purchaser is usuallyan agent or department representative (Goldman, 2012).

Support

Inbusiness buying processes, the business will need a support contractwhen buying certain items, but in consumer buying processes, theconsumer is not hampered by the support requirements. In addition,the support for a product in an end consumer is important in thefinal purchase contract, but for business, it must be described in adetailed manner.

Question3

Marketinginformation systems are purported to support the decision making bythe management. The management has got five roles to do and each rolerequires the use of marketing information system. These are:planning, organizing, coordinating, decisions and controlling. TheMIS must be designed in a way managers are able to work. Managersperform a lot of work and depends on the information that are timelyand verbal, since they can be ridden off immediately. They also playa major role in interpersonal, informational and decision making.The MIS, in electronic form can support these roles. MIS contributeslittle in terms of the informational role than the interpersonal anddecision roles.

AMIS is made up offour systems: These are

  1. The internal reporting

  2. The marketing research

  3. The marketing intelligence

  4. Marketing models.

Aninternal reporting system involves the orders gotten, sales invoicesand inventories. The marketing research involves purposeful studies.Marketing intelligence is not comprehensive in its role, but carriedout informally by the managers. Therefore, the marketing managersshould be fully involved in MIS planning, so that the formal andsound decisions are made in the planning process.

References

Goldman,C. (2012). Bullied:What every parent, teacher, and kid needs to know about ending thecycle of fear.New York: HarperOne.

Oster,G. (2006). Lifeas a psychologist career choices and insights.Westport, Conn.: Praeger.