Family life cycle model has five basic stages.

1. Bachelorhood. Young single adult living apart from parents.

2. Honeymooners. Young married couple.

3. Parenthood. Married couple with at least one child living at home.

4. Post-parenthood. An older married couple with no children living at home.

5. Dissolution. One surviving spouse.

Question:

Which of the five stages of the family life cycle constitutes the most lucrative segment for each of the following products and services:

(a) Internet TV/Netflix subscriptions,

(b) Luxurious sea cruising holiday,

(c) Dominos Pizza,

(d) Furniture,

(e) Mutual funds

(f) Fastest internet access available in ones location?

Justify and explain your answers.

Instructions:

Students should segment the markets for these products in the context of the information presented on the five basic stages of the FLC, and propose appropriate strategies to market these products to the chosen target markets. For each stage of the FLC, the students should evaluate the purchase likelihood of each of the six products and services by applying a ranking scale ranging from 1 = very low purchase probability to 5 = very high probability.