Generation Y - Born Between 1986 and 2002. Make up one third of the U.S population and spend $170 billion per year. Link to words like change, new, progress, hope and excitement. They value being able to go where they want while staying connected 24/7.1 About 36% of generation Y is between the ages of 18 and 24. They have "been heralded as the next big generation, an enormously powerful group that has the sheer numbers to transform every life stage it enters".2
Benefits of Marketing to College Aged Adults
Students alone spend $11 Billion a year on snack and beverages and $4 billion on personal care products. The average student has $287 dollars a month to spend on discretionary items.They are very willing to try new things and are just beginning to create brand loyalty for many products like cleaning products and personal care items. This is the time to get their attention.3
Ways to Market to College and Young Adults
Companies can use campus resources to get the attention of students. They can put advertisements in campus newspapers, and ad spaces for sale on campus and on buses or other forms of student transportation. Many companies also sponsor athletics or other organizations on campuses.4Marketers can also target young adults by using demographics and psychographics to place advertisements in the appropriate magazines and television channels. For example, young adults read magazines like Cosmopolitan, People, Maxim and Sports Illustrated and watch television stations like MTV, Fox and ESPN.5
Stadium at Michigan State University
Young Adults and Alcohol
Studies haves shown that the majority of college students admit to drinking alcohol and the National household Survey on Drug Abuse says that 33.7% of 18 to 22 year-old people binge drink. This is the largest percentage of all age groups. The alcohol industry spends $2 billion on advertising per year. Due to laws, alcohol advertisements can only be placed in the media where 70% or more of the audience is 21 or older. These sources of media include college sport events concerts and magazines.9
Challenges of Marketing to Young Adults/ Students
Hard to target through traditional marketing techniques (newspaper, television etc.).
Short attention span.
Grew up with the internet at their finger tips.
Many students are not even on campus (online classes).6
How to Take Advantage
Online advertising can be very effective. 99% of students go online a couple times a week and 90% go online every day.7
Businesses wanting to reach young adults need to not only have an online presence but one that can be accessed by phone as well.
Keep ads simple and add humor if possible.
Focus advertising on websites that interest young adults like collegehumor.com or mtvU.com8
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