The Family Life Cycle Concept Is Particularly Useful to Marketers

question 117

Multiple Choice

The family life cycle concept is particularly useful to marketers because:

• A) it helps to re-affirm traditional family values.
• B) the focus on long-term changes in family priorities helps to predict demand for specific product categories over time.
• C) marketers too often overlook families in favour of younger individual consumers.
• D) it recognizes the increasing number of women in the work force.

---

Definitions:

Dollarization

Dollarization occurs when a country adopts the US dollar as a parallel or exclusive currency in its economy, either officially or unofficially, to stabilize the economy.

Foreign Exchange Rates

The value of one currency for the purpose of conversion to another.

Nonfinancial Customers

Individuals or entities that engage in transactions or relationships with businesses not primarily involving financial products or services.

Currency Valuation

The process of determining the relative value of one currency against another based on economic indicators, market demand, and governmental policies.