Stage in family life cycle is directly related with buying pattern of consumer. Agency Management System or CRM Software can help businessman to understand buying pattern of consumer.
Single Stage----
When a Person is in single stage that is young, unmarried people living away from home their buying pattern could be few financial burdens. Spend on ret. Food. Very basic kitchen equipment and furniture, recreation and leisure time accessories such as Mobile or CD player.
Young Newly married
When a person is in this stage of life with no children, better off financially than they will be in near future, wife is usually working, highest purchase rate. Spend on furniture, durables such as refrigerators, gas stoves, and vacations etc.
Full Nest1—
Youngest Child under 6, when a person is in this stage, spend maximum on home purchase. Interested in new products and influenced by advertising. Buy Tv, baby foods, cough medications, toys such as tricycle.
Full Nest2—
Youngest Child over 6, a person some wives return to work. Better financial position, less influenced by advertising. Buy large size packages, various kinds of food, bicycles, education, house purchasing.
ref: agency management system, Insurance CRM
Thursday, January 31, 2008
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