 Changing family Nuclear Family Extended Family Virtual Extended Family

 Socialization of Family Members  Consumer Socialization  Socialization Agent  Adult Consumer Socialization  Intergenerational Socialization

Young Person Other Family Members Friends Influence More Basic Values/Behaviour Moral/Religious Principles Interpersonal Skills Dress/grooming standards Educational Motivation Manners & Speech Career goals Consumer Behaviour norms Influence More Basic Values/Behaviour Moral/Religious Principles Interpersonal Skills Dress/grooming standards Educational Motivation Manners & Speech Career goals Consumer Behaviour norms Influence More Expressive Attitudes/Behaviour Style Fashion Fads “In/Out” Acceptable consumer Behaviour Influence More Expressive Attitudes/Behaviour Style Fashion Fads “In/Out” Acceptable consumer Behaviour PreadolescentAdolescentTeenagerOlder

 Dynamics of husband –wife decision making  The expanding role of children in family decision making

 Traditional family life cycle 1. Stage I: Bachelorhood 2. Stage II: Honeymooners 3. Stage III: Parenthood 4. Stage IV: Post parenthood 5. Stage V: Dissolution

 ‘ 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’.

 ‘Each social class by the amount of status the members of that class have in comparison with member of other social classes’.  Social Comparison Theory Frequently thought of as the relative rankings of members of each social class in terms of specific status factors

 Subjective Measures  Objectives Measures

Economic, Status & power Mix Disadvantaged Situation Advantaged Situation Economic, Status & power Mix Disadvantaged Situation Advantaged Situation Self as “Impotent Reactor” Self as “Potent Actor” Future as Threat “Trap Doors” Future as Opportunity “Open Doors” Focus on Creation of Financial stability “Securing the Perimeters” Focus on Financial Growth & Development “Expanding the Boundaries” Class Situation Self Perceptions & Expectations Financial Focus