This report discusses the developing and evolving trends in households, and the effects of these changes and trends on contemporary marketing strategies. Households are forever experiencing change. Households change because their occupants change. Occupant’s age and grow older and new occupants come in to the household. Households have a life cycle. There are different stages to this life cycle. Household go through the following stages in their life cycle. The first stage is Young- single. The second stage is young-married. Another stage is Full nest. And yet another stage is single parent. Every household doesn’t necessarily go through these stages. And those that do don’t necessarily go through them in the given order. Each stage has different people at different ages with vastly different needs and wants. What is a necessity for occupants of one stage may be an unaffordable luxury for another. What is the norm for occupants for one stage may be considered a blatant waste of resources by the occupants of another stage. It all boils down to this. Occupants at each stage of the life cycle have different needs and have available to them a unique set of resources. Hence the marketing strategies for each segment of the population needs to be different, unique and specific. What works for one will not work for another. The famous words “You can’t be all things to all people.” apply here.
This report will begin with a discussion of the general house hold life cycle. After a general theoretical discussion of the life cycle of households we will move to one particular stage of the life cycle; young –singles. This stage of the lifecycle is the stage that this report is based on. Among other things this report will use the Australian Bureau of Statistics to show how important this stage is for the general market. What segment of the population fall under this stage and subsequent marketing strategies for marketing to this segment of the population? This will also entail a discussion of the demographics of this type of household. This will include but will not be limited to a discussion of the age, marital status and children. It will include among other things statistical information on the income, social activity, housing and purchasing habits of this segment of the population. The final part of the discussion will revolve around whether the segment chosen for this report will indulge in the practice of buying family sized cars and single sized food packaging. As we will later prove, young single people will typically not indulge in the practice of buying family sized cars. They will however, purchase in great quantity single sized food packets. The very last part of this report will be dedicated to a discussion of how the makers or sellers of family sized cars can market to the right people and make a greater number of sales. This is the extent to which this report aims to address the issues presented above.