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Social Class and Family Life Cycle: Presented By: Archita Moitra

The document discusses social class and family life cycle. It outlines different family stages like bachelor, newly married couples, parenthood, post-parenthood, and dissolution. Key variables that determine family life cycle stages are mentioned as age, marital status, career, disposable income, and presence of children. Social class is determined by factors like relative wealth, power, and prestige. Objective and subjective measures are used to measure social class. Lifestyles differ across social classes from upper-upper class to lower-lower class. Consumer behavior also varies with social class in areas like clothing, spending habits, and media consumption.

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Archita Moitra
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123 views48 pages

Social Class and Family Life Cycle: Presented By: Archita Moitra

The document discusses social class and family life cycle. It outlines different family stages like bachelor, newly married couples, parenthood, post-parenthood, and dissolution. Key variables that determine family life cycle stages are mentioned as age, marital status, career, disposable income, and presence of children. Social class is determined by factors like relative wealth, power, and prestige. Objective and subjective measures are used to measure social class. Lifestyles differ across social classes from upper-upper class to lower-lower class. Consumer behavior also varies with social class in areas like clothing, spending habits, and media consumption.

Uploaded by

Archita Moitra
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Social Class and Family Life Cycle

Presented By: Archita Moitra

The concept of Family


As the family goes, so goes the nation and so goes the whole world in which we live.

Family as a consuming unit

The Changing Family


Household v/s Family Earlier there were only joint families Emerged new patterns of family : Nuclear family Childless families No Kids Single parent

Functions of a Family
A site of identity Emotion Cultural expression Care

Effect of Socialization on Family


Parents as socialization agents Serve as gatekeepers to information and influence by regulating the money that their offspring can spend Role of the mother ranks high than that of the father She inspires brand associations across categories and SECs. For instance,Horlicks,Clinic Plus use mothers as socialization agents

MOTHER SEGMENTS

Marketing Receptive

The Balancer Multitasker Believes in teaching her kids to be good consumer Higher Income level The Protector Highest Income and education level across all segments Rational and deliberate decision-maker Encourages children to shop and spend responsibly Protective of her children

The Nurturer Family focused Advocate of traditional family companies and brands Happy and content mother The Struggler Teaches her children to live within means Price-conscious Has a negative impression of herself and life

The Diva Self-focused Attention seeker Conspicuous consumer Gives in to the childs demands The Stoic Culturally or socially isolated Views herself as a caretaker and homemaker Makes decisions with great deliberation

Marketing Resistant

Adult Consumer Socialization


Consumer socialization is not limited to childhood; it is an ongoing process that extends throughout a person's entire life For Instance ,when newly wed couples have to adjust to their surroundings and each others families

Inter-generational Socialization
Two-way process Transference of certain product loyalties or brand preferences from one generation to another Grandparents acts as inter-generational agents Children act as influencers for products and services like Internet, Mobile etc

Family Lifestyles
The Indian families enjoy tremendous cultural and ethnic diversity Factors like upbringing ,experience and the jointly held goals of the spouses determine the lifestyle Gender based lifestyle patterns Shift from quantity time to quality time

The Family Life Cycle


A way of segmenting the family market at different stages of the life cycle to determine the product and services people buy at each stage

Key Variables
Age Marital Status Career Disposable Income Presence or absence of children

FAMILY LIFE CYCLE

Bachelor Stage

Contd..
Young single adult living apart from parents Can be demarcated into college students, fresh graduates and fully employed Have few financial burdens Are fashion and opinion leaders Buy-Basic kitchen equipments, basic furniture, care, clothes & accessories ,holidays, FMCG products

Newly married couples

Contd..
This stage marks the culmination of bachelorhood and continues till the arrival of the first child Characterized by high income, less responsibilities Have considerable start-up expenses Buy-Cars, white goods ,furniture ,holidays ,life insurance

Parenthood(Full Nest 1 )

Contd..
Starts after the first child is born and extends over more than a 20-year period Increased responsibilities Home purchasing is at peak Child dominated household Spending dominated by childs needs Buy-necessities

Post-Parenthood(Empty Nest)

Contd..
Parenthood is marked by the children growing to be self-sufficient and leaving home Income is at highest level Home ownership at peak Interested in recreation, travel and selfeducation Savings are at a high Buy-Luxuries , home improvement

Dissolution(Solitary Survivor)
Occurs with the death of one spouse The surviving spouse often tends to follow a more economical lifestyle Seek companionship through interest groups

The concept of Social Class


Defined as the division of members of a society into a hierarchy of distinct status classes ,so that members of each class have relatively the same status and members of all other classes have either more or less status

Social Class and Social Status


Social status is frequently thought of as the relative rankings of members in each social class in terms of specific status factors

Three determinants of social status


Relative wealth Power Prestige

Social comparison theory


Individuals compare their own material possessions with those owned by others in order to determine their relative social standing People with more possessions tend to have more social status and vice-versa

People in the upper class segment would generally want to be associated with luxury products

Social Class
Social class is treated as a social phenomenon. One that reflects an individuals sense of belonging and identification with others

Weber's Theory of Social Class


Class is one dimension of the social structure. Social status, or "social honor," is another. Both are significant contributors of social difference. The theory indicates the manner in which the material basis of society is related to the ideological

Factors determining Social Class


Power Domination Communal Action Societal Action

The hierarchy of social class


Social class is used as a form of segmentation Is usually ranked in hierarchy, ranging from low to high status People in the same social class exhibit similar characteristics and buying behavior Social class has given birth to aspirational marketing

Measurement of social class


The measurement of social class has been demarcated into two broad categories Subjective Measures Objective Measures

Subjective measures
In this approach, participants are asked to estimate their own social-class positions Subjective measures tend to produce an overabundance of people who classify themselves as middle-class

Objective measures
This method consists of selecting demographic or socio-economic variables concerning the individuals under study These variables are measured through questionnaires that ask respondents several factual questions about themselves ,their families and their surroundings

Lifestyle profile of social classes


Within each of the social classes ,there is a constellation of specific lifestyle factors viz. shared beliefs ,attitudes ,activities and behavior Socio economic differences among classes are reflected in differences in attitudes ,in leisure activities ,and in consumption habits

The Upper-Upper Class Establishment


Small number of well-established families Belong to best clubs and sponsor major charity events Serve as trustees for local colleges and hospitals May be heads of major financial institutions Accustomed to wealth ,so do not spend money conspicuously

The Lower-Upper Class-New Wealth


Represent new money Not quite accepted by the upper crust Successful business executives

The Upper-Middle Class-Achieving Professionals


Career oriented Have neither family status nor unusual wealth Successful professionals ,corporate managers and business managers Active in professional, community and social activities Have a keen interest in obtaining better things in life

The Lower Middle Class-Faithful Followers


Primarily non-managerial white-collar workers and highly paid blue-collar workers Want to achieve respectability and be accepted as good citizens Religious Constitute a major market for do-it-yourself products

The Upper Lower Class-Security Minded Majority


Solidly blue collar Strive for security sometimes View work as a means to buy enjoyment Interested in items that enhance their leisure time Husbands typically have strong macho image

The Lower-Lower Class-Rock Bottom


Poorly educated Often out of work Children are often poorly treated Tend to live a day-today existence

CONSUMER BEHAVIOR APPLICATION OF SOCIAL CLASS

Clothing ,Fashion and Shopping


Clothes project the self-image of individuals which includes their perceptions of their own social-class membership Is an important factor in determining where a consumer shops

Savings, Spendings and Credit


Upper class consumers are more future oriented and confident of their financial acumen Lower class consumers are more concerned about instant gratification

Social Class and Communication


Social-class groupings differ in terms of media habits and in how they transmit and receive communication Lower class consumers tend to portray their world in rather personal and concrete terms Middle class consumers tend to portray their experiences through different perspectives

Working Class Disempowerment

Professional Empowerment

Economics status and Power mix. Disadvantaged situation


Self perception and expectation

Advantaged Situation Self as Potent Actor Future as Opportunity Open Doors

Self as Impotant Reactor Future as threat Trap Doors

Financial Focus

Focus on Creation of Financial Stability

Focus on Financial Growth & Development

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