Synovate, the international market research company, publishes a newsletter detailing its latest research. In the December edition I discovered this lovely bit of advice: “At the end of the day, the marketers who reap the rewards will be those who make XXXs feel special and who tailor innovative campaigns to the habits, routines and nuances of their lives, without resorting to tired clichés.”.
I always think it is a good test of a conclusion/recommendation to remove the name and see if others can guess who it refers to. This statement is so general that I think it applies to just about any group of people. It was made in respect to students, the fastest growing category of young people.
In some ways I was encouraged to see that students got the same sort of treatement that is normally dished out to older people (i.e.being subdivided into funny sounding groups).
Can you fit your son/daughter/counsin/nephew into one of these boxes:
The Comfortable Coaster — Around 15% of the student sector enjoys a life of luxury and ease. They live in premium accommodation, perhaps owned by their parents. They don't take any part time work, have a relaxed attitude to their studies and can be found in up-market bars and restaurants.
The Glamour Debtor — About 30% of students fall under this category. They live well but owe lots of money. They are comfortable with debt and see it as preferable to frugality. They are influential on campus because they know where to see and be seen, and what to be seen wearing.
The Newdent — A fast growing 25% of students live with their parents, and are very reluctant to get into debt. Members of this group commonly work evenings and weekends, and don't really feel part of the campus community. They don't act or think like traditional students, and their lifestyle habits are identical to workers of the same age.
The Studious Stresser — Another 30% of students come from middle income families and take their studies very seriously. This group accept debt as the inevitable cost of a degree, but they don't like it. They go out rarely, but when they do they splash out.
I don't know if these groupings make much sense but it appears that “debt” is something that figures pretty highly in the lives of most students. The UK has 2,175,115 undergraduates. That is a hell of a lot people who are tying to enter the world of work already with significant levels of debt.
I have titled the 18-35’s as “Generation Broke”. The results of Synovate’s research confirms my opinion that the economic power of what has historically been consumer marketer’s prime target market is significantly tarnished by the debt-hangover from its student days.
Dick Stroud: www.20plus30.com
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