What is the importance of family life cycle?

Answer 1

From a Marketing perspective the family life cycle (FLC) is important as it gives marketers a clue about buying patterns of families according to the stage of the families development according to the FLC.

The FLC essentially is the various evolutionary phases of families and thechanging consumer patterns which characterise these phases.

The main FLC is made up of 8 stages. These include:

1. The Bachelor Stage - young singles

2. Young couples with no children - DINKs (double income, no children)

3.Full Nest 1 - Couples with small children

4. Single parents with children

5. Full Nest 2 - middle aged couples with dependent children

6. Empty Nest 1 -Middle aged couples with no children living at home

7. Empty Nest 2 - Older couples with no children

8. Solitary Survivor - Older, widowed, single, divorced or retired

Each of these groups has their own purchasing behaviours to which Marketers can appeal in their Marketing strategies.

Answer 2

life cycle important because if did not have life cycle people will die