People change the goods and services they buy over time because of the two changing factors of ________.

Question

Quizplus · Accepted Answer

Age and life-cycle stage are two key factors that drive changes in the goods and services people buy. As people age and move through different stages of life (such as starting a family, buying a home, or approaching retirement), their needs, wants, and priorities shift. For example, a young adult may be more focused on buying clothing and entertainment experiences, while a middle-aged parent may be more focused on purchasing housing, education, and healthcare services. Understanding how age and life-cycle stage impact consumer behavior is essential for marketers looking to successfully target different segments of the market.

People Change the Goods and Services They Buy Over Time