What is the family life cycle (FLC)? Using the following selected stages from the FLC, briefly describe the lifestyle and purchasing needs of consumers in that stage: (1) Young single, (2) Young married without children, (3) Young married with children, (4) Middle-aged married without children, and (5) Older unmarried.

Question

What will be an ideal response?

Answer 1

The family life cycle is a series of stages determined by a combination of age, marital status, and the presence or absence of children. The FLC is a valuable basis for segmenting markets, because families' needs, income, resources, and expenditures are different in each life-cycle stage.

YOUNG SINGLE. Members of this group have few financial burdens, are fashion opinion leaders, and are recreation oriented. They buy kitchen equipment, basic furniture, cars, vacations, and items necessary for the "mating game."

YOUNG MARRIED WITHOUT CHILDREN. This group is financially better off, so members purchase at a high rate. Many durables are bought, such as cars, home appliances, and furniture. Additionally, vacations are still bought.

YOUNG MARRIED WITH CHILDREN. This group concentrates on home ownership and raising children, so liquid assets are low. They like new and advertised products. They tend to buy appliances, baby items, toys, and some medical products.

MIDDLE-AGED MARRIED WITH NO CHILDREN. Members of this group enjoy a better financial position and are interested in travel, recreation, self-education, and home improvements. They tend to buy home improvements, vacations, and luxuries.

OLDER UNMARRIED. Cuts in income curtail spending of this group. Purchases are more focused on medical care and medical products.