Consumer Behavior
External Influences – Family Life Cycle (FLC)
Family life cycle is defined as what type of family the target market consumer is in. DINKS are “double income no kids” and SINKS are “single income no kids”. Marketers love to target the DINKS and SINKS because they have lots of discretionary income and no children to spend it on, so they spend their extra money on themselves, their house, their pets and vacations.
- Boomerang Kids (adult children who have moved back in with their parents)
- Extended parents (grandparents raising their grandchildren)
- Blended Families (stepchildren)
- Cougar and Silver Fox
- Recently divorced
- Same-sex singles/couples
- Retired – Wealthy or Medicare dependent
The engaged couples and the recently divorced spend money on similar products, although for different reasons. Engaged couples are buying products to begin a life together and the recently divorced are buying products that they already had and now need to replace. Extended parents are grandparents taking care of their grandchildren. Same sex couples and singles are grouped together whether they have children or not, because of their lifestyle and interests. An empty nester is someone whose children are now grown adults and have moved out of the house. Boomerang kids are adult children who are living with their parents.
Stages of the Family Life Cycle (FLC)
- Young and single
- Engaged couples
- DINKS (Double Income No Kids)
- SINKS (Single Income No Kids)
- Married with children: Babies, Toddlers, Elementary School Age (5-7), Tweens (8-12), Teens (13-17), Older
- Single parents
- Empty nester
