The Concept Of Family Life Cycle

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2a. Explain the concept of Family Life Cycle and its use in marketing. Choose one stage and give 4 products that might be marketed to them, and a TV show and a magazine that might be used as vehicles for the marketing effort. Be sure to justify your selections “The family life cycle (FLC) is a series of stages determined by a combination of age, marital status, and the presence or absence of children” (Chapter 8, page 146, MKTG). FLC is used in marketing to narrow down target markets. Marketing managers choose their market by determining who has a need for their product and focus on that particular group. Marketing to the correct group of the FLC will save marketing budgets from promoting products to disinterested group that do not…show more content…
My children are teenagers and almost ready to be on their own. From what I see with my friends, they often buy the magazine Parents by Meredith Corporation. This magazine also has a website and links to other parts of the Meredith Corporation to include: Allrecipes, Meredith Beauty, Family Fun and Baby. It seems that the Meredith Corporation has all the bases covered to answer any question a mother may have about her children’s health, her wellness and her entire family’s entertainment. I think these choices are all-in-one packages and make things more convenient for busy mothers. Many mothers these days also work outside the home and need as much consolidation of efforts as possible. 2b. How are the stages in the Business buying decision process similar to the consumer buying process? How are they different? The consumer decision making process is defined as “a five-step process used by consumers when buying goods or services” (Chapter 6, page 90, MKTG). Steps include need recognition- is the item a need or a want? Next is information search. “This could be internal (from personal experience) or external searches (example: advertisements.) External searches can be broken down into marketing controlled (advertisements) and non-marketing controlled such as websites or other public places” (Chapter 6, page 93, MKTG). The third step is evaluation of alternatives.
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