Question

Mike is a 23-year-old recent college graduate and is starting his career as a pharmaceutical sales representative. He will be living in an extended-stay hotel in the city where he will undergo training, but once he finishes that, he plans on renting a nice apartment with a friend of his from college. He also wants to purchase a sports car and save money for a ski vacation next year. To which stage of the household life cycle does Mike belong?

Answer 1

Answer:

Mike belongs to the bachelor stage of the household life cycle.

Explanation:

Studies in marketing during the 1960's came up with a classification of population groups. Taking into account variables like age and marital status, the classification made it possible to describe consumer practices and behavior, thus using specific marketing strategies for each stage.

The bachelor stage describes a young man or female that is single, in this stage people tend to focus on appearance when shopping, they prefer spending on clothes or cars, and are more likely to make impulsive decisions.