Age and life cycle segmentation is a demographic method of dividing the market in which consumers are grouped into different segments based on their age (e.g., children, teenagers, young adults) and/or stage of their life cycle (e.g., single, young family without children, family with young children, retired).
This approach is based on the premise that the needs and wants of consumers change systematically as they age and move through different life stages. Effective implementation of this method requires careful avoidance of stereotypes, since in the modern era, the life cycle is not always directly related to chronological age. Marketers must develop relevant products and communications that reflect the specific needs, purchasing power, and consumer behavior of each segment.
