Family Life Cycle Characteristics

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The traditional FLC describes family patterns as consumers marry, have children, leave home, lose a spouse, and retire. The family lifecycle can be depicted graphically by using a curve similar to

that of the product lifecycle.

 

As household leaders enter their 30s and 40s, often their income levels increase (because they

begin to reach higher earning positions and two adults are working), but so do their spending levels

(especially if they have children).

 

This decreases their disposable income during these life stages, making it more difficult for them to save money or splurge on luxury items. Marketers use the descriptions of these FLC stages when analyzing marketing and communication strategies for products

and services, but they often add additional information about consumer markets to analyze their

needs, identify niches and develop consumer-specific marketing strategies.

Marketers can add socioeconomic data (such as income, employment status, financial well-being,

and activities) to family life stages to improve predictions about product choices and help explain further consumer activities.

 

The FLC helps explain how families change over time; what‘s more, modified with market data, including individuals‘ life stage, it is useful in identifying core market targets.

 

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