Tuesday, May 6, 2008

Ten Insights About Student Spending From Market Research

By Linda P. Morton

Student Spending Market Research Insight 1: Students spend $187 billion annually while still in high school.

Student Spending Market Research Insight 2: Students in high school earn nearly $100 a week from their jobs.

Student Spending Market Research Insight 3: College students annually add another $100 billion to the economy.

Student Spending Market Research Insight 4: While still in college, students often charge at least $3,000 on the credit cards. Some charge as much as $7,000 across four cards. It takes them a while to pay off the debt, but most do.

Student Spending Market Research Insight 5: High school and college students use the Internet differently. Most college students buy, but high school students search for free information.

Student Spending Market Research Insight 6: Male students like to shop as much as females. They got used to shopping for themselves because their mothers were too busy working to do it for them.

Student Spending Market Research Insight 7: Traditional advertising and hard sales don't work with today's students. In fact, these marketing tactics turn them off.

Student Spending Market Research Insight 8: Word-of-mouth marketing works best because students trust one another most.

Student Spending Market Research Insight 9: In order for advertising to reach today's students, it has to be true to their lives, and include humor, emotion and their music.

Student Spending Market Research Insight 10: Students buy vehicles based on value, quality, good insurance rates and warranties.

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