Following are certain classifications and the type of products that they are likely to purchase:
- Young & single: Personal consumption items, entertainment, bikes, clothing and love to go on a vacation.
- Newly married couples: Households durables like furniture, TVs, refrigerators, etc.
- Older married with children: Food products, music, educational services and wide variety of other products.
- Older married with dependant children: Rational purchases more on replacement buying.
- Older married with no children: Self-education, saving schemes, hobbies, luxury appliances, magazines, health products, etc.
- Old single retired: Economic lifestyle, health-care and other services and have budget constraints.
- Young married with child dual income: Convenience goods like washing machines, microwave ovens, costly garments for the kid along with games. Expenditure on instant food and crèches, etc.
- Single parent families: Buying physical, psychological and financial securities, like insurance, alarms, boarding school expenses.
- Divorced: Money saving products, rental housing, childcare, time saving appliances, etc.
- Older people married or single: Cash poor and health conscious. They need security and recreation.
- Middle age: Children’s lesson on dance and music, dental care, furniture, autos, houses, dining out, etc.
- Middle aged with no children: Luxuries, travels, gift products, etc.
This is one of the segmentation variables to be considered while understanding the target audience.
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