Advertisers are often interested in knowing things such as the age of the youngest child, the size of the family, and the family income. The age of the youngest child at home tells an advertiser where the family is in terms of its needs and obligations (i.e., toys, investments for college savings, clothing, and vacations). When the youngest child leaves home, the family's consumption patterns change. Advertisers like to track the age of the youngest child living at home and use it as a planning criterion. This is known as the _______________.

Based on the information provided within the question this is known as the life stages. Basically this term refers to different parts of an individuals lives throughout the years. This information (like mentioned in the question) can help companies by allowing them to plan ahead and know what products or services they should release for each market and when.

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