Household/Family Life Cycle for random consumer product
Pretend you are a marketing manager for a random consumer product. Discuss how viable the market is for your product for consumers in the various stages of the Household/Family life cycle.
Customer demographics encompass all the stages of the family cycle. These stages are the intellectual and emotional stages one passes through as a family member, right from childhood, all the way through working years to retirement (Lantos, 2015). As a marketing manager, family life cycle marketing is of essence especially the family life cycle marketing model which was developed by Wells in the 60s. the model takes into consideration the size of the family, potential ages of the target customer as well as the family’s professional status. As the manager, I will lead my marketing team in identifying customer demographics based on the model and thus determine the kind of products they are most interested in (Lantos, 2015).