How changes in family life-cycle stages may change a marketer’s promotional strategy?
Here’s an example for you, taken from my own experience in the jewelry business. Jewelry marketing is very life-cycle oriented, and it is the goal of jewelry marketers to “connect” with a customer early in their lifetime and to remain their jeweler of choice throughout their lifetime. For a jeweler, a male customer’s life-cycle might look something like this: Younger consumer – small gifts for girlfriend Slightly older consumer – engagement ring, holiday gifts Slightly older yet – Bridal ring, holiday gifts Maturing consumer – watches, anniversary gifts, holiday gifts, Consumer with children – birthday presents, holiday gifts, Sweet 16 gifts, bar mitsvah gifts and First Communion gifts So, you can see how reaching a consumer earlier in life offers the potential to make more sales to that customer than reaching them later in the life-cycle. Life-cycle stages effect most other businesses, too. As one grows older, they tend to earn more money, live in better house, drive fancier cars, hav
