The household life cycle (HLC) represents a segmentation technique that acknowledges that changes in family composition and income alter household demand for products and services.

Question

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The statement accurately describes the concept of the household life cycle (HLC), which involves segmenting households based on their stage in the family life cycle, and recognizing that changes in family composition and income impact their consumption patterns and demands for goods and services. This information can be useful for marketers in developing targeted marketing strategies and product offerings.

The Household Life Cycle (HLC) Represents a Segmentation Technique That