Students are often seen as target markets because they possess disposable income, are influenced by trends and peer recommendations, and have specific needs related to their education and lifestyle. Furthermore, students represent a sizable consumer base that can contribute to long-term brand loyalty and customer retention.
And now, a closer look
As an expert in marketing and consumer behavior, I can confidently say that students are often targeted as specific markets for several compelling reasons. Drawing from my practical knowledge and experience in the field, I will provide a detailed explanation of why students are seen as target markets.
Disposable Income: One of the primary reasons why students make attractive target markets is their possession of disposable income. While students may not have high levels of income compared to working professionals, they often have money available to spend on a variety of products and services. This discretionary income can be derived from sources such as part-time jobs, allowances, or financial support from their families. Companies recognize this potential consumer spending power and strategically develop marketing campaigns to tap into it.
Influenced by Trends and Peer Recommendations: Students, more so than other age groups, have a strong tendency to follow trends and seek validation from their peers. They are particularly responsive to recommendations from friends, classmates, and influencers. Companies are well aware of this fact and leverage it by targeting students through platforms such as social media, where trends can spread rapidly and peer recommendations hold significant influence. By aligning their marketing efforts with popular trends and utilizing influencer endorsements, businesses can effectively capture the attention and loyalty of student consumers.
Specific Needs Related to Education and Lifestyle: Students have unique needs related to their education and lifestyle, which sets them apart as a distinct target market. From textbooks and stationery to technology and housing, students require products and services that cater to their academic and personal lives. By understanding and addressing these specific needs, companies can tailor their marketing strategies to resonate with students and establish themselves as go-to brands in their target market.
Sizeable Consumer Base: Another reason why companies often target students is the sheer size of the student consumer base. Universities and colleges attract a substantial number of students each year, both domestically and internationally. This large population presents an opportunity for businesses to tap into a significant consumer segment. By creating products, services, and promotional campaigns tailored to students, companies can position themselves for long-term brand loyalty and customer retention.
To further support my explanation, I would like to include a quote from renowned marketing expert Philip Kotler: “The student market is a vital and influential segment. They have the power to make or break brands and trends. Understanding and engaging with them is essential for any successful marketing strategy.”
Interesting Facts about Students as Target Markets:
According to a study by Barnes & Noble College Insights, college students spend an average of $1,200 on textbooks and course materials each year.
The National Retail Federation estimates that college students and their families spent around $67.7 billion on back-to-school shopping in 2020.
The higher education sector has seen a significant increase in corporate partnerships, with companies targeting students through exclusive discounts and tailored marketing campaigns.
Social media platforms such as Instagram and Snapchat are popular among students, making them ideal channels for targeted advertising.
To present the information in a visually appealing format, I will provide a table showcasing the specific needs and potential products/services targeted towards students:
|Student Needs||Potential Products/Services|
|Textbooks||E-books, rental services|
|Technology||Laptops, tablets, software|
|Accommodation||Student housing, furniture|
|Stationery supplies||Notebooks, pens, backpacks|
|Food||Meal plans, snack subscriptions|
|Transportation||Bicycles, public transport|
|Fashion||Trendy clothing, accessories|
|Recreation||Gym memberships, event tickets|
In conclusion, students are highly coveted target markets due to their possession of disposable income, susceptibility to trends and peer recommendations, and specific needs related to their education and lifestyle. Companies capitalize on these factors to create marketing strategies that resonate with students, leading to brand loyalty and long-term customer retention. By recognizing the potential of the student market and tailoring their offerings accordingly, businesses can tap into this sizable consumer base and thrive in this competitive landscape.
See a related video
In the video “What Is A Target Market,” the speaker highlights the significance of recognizing and comprehending the target market for attaining success. He draws parallels between targeting specific audiences in advertising and identifying the ideal viewers for a YouTube channel. By understanding the preferences and needs of the target market, content can be tailored to capture their attention and drive actions such as subscribing. The speaker also cautions against uploading unrelated content that may dilute the message. Overall, the video emphasizes the importance of targeting the right audience to maximize the impact of content.
Other methods of responding to your inquiry
Social Class: More than half of the students come from the middle or upper-middle class. These students have a certain disposable income with them. Also, most college students work part-time to earn a living. Brands can market their products and services to this target segment.
Students are a large and highly sought-after market. In the United States alone, there are over 16 million college students. Businesses target students because they are forming opinions about brands and before they have money to spend. By targeting students now, businesses can gain their loyalty and have a customer for life.
There are many reasons to target students as a market. For one, students are a very large market. In the United States alone, there are over 16 million college students. This makes students an attractive market for businesses. Another reason to target students is that they are a highly sought-after demographic.
Marketing to college students helps your brand capitalize on a sweet spot in their lives, while they’re forming opinions about brands and before they have money to spend it. As a target market, college students are bursting with potential. If a brand can gain their loyalty now, they may have a customer for life
More interesting questions on the issue