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project on teen marketing

project on teen marketing

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Published by Mohammed Yunus
in india teen marketing doing business of more than 200crore
in india teen marketing doing business of more than 200crore

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Published by: Mohammed Yunus on Aug 31, 2010
Copyright:Attribution Non-commercial

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08/12/2012

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TEEN MARKETING
1
INTRODUCTION
Between 1990 and 2000, the number of Teens ages 12 to 19 soared to 32million, an increase of nearly 4.5 million. Their 17 percent growth rate far outpaced the growth of the rest of the population. Needless to say, it is facing amassive population shift. With this large number of Teens on the cusp of  becoming young adults, the behaviors and attitudes they exhibit now areimportant to marketers in the present and in the years to come.The current Teen market represents the most multicultural population. It differsfrom previous generations in other distinctive ways as well. While today¶sTeens exhibit a strong need for individuality in their self-expression, they alsodisplay a deep attachment and respect for family. In addition, they marry aninterest in fashions of the moment with a sincere desire to purchase productsfrom companies that have a social conscience.Teens are also a robust part of the economy. They have a significant income of their own to spend and also wield increasing influence on household purchases.For example, in 2003, nearly half ² 47% ² of 9- to 17-year-olds were asked by their parents to go online to find out about products or services compared to37% in 2001. This Teen Market Profile is designed to help marketersunderstand and connect with Teens effectively. It includes a Teen marketoverview, an examination of the media habits of Teens, and evidence about howmagazines reach, connect, and influence Teens and their purchase decisions.Market DefinitionThirty-two million strong, the Teen market is a force to be reckoned with. Teensare active consumers in terms of the money they spend, as well as in theinfluence they wield in their families and on societal trends. Despite be ingraised in a period of rapid change, they display a remarkable self-confidence intheir judgment. Teens do their research prior to making large purchases becausethey want to make informed decisions and are particular about what they buy.
 With eight out of ten Teens reading magazines, this medium is one Teensdepend upon to become informed.
And the numbers show Teens reading awide variety of magazines. In addition,
Teens trust advertising in magazinesthe most ² more than television, radio, or the Internet
 ² and Teens tend tomultitask less when they read magazines than they do with other media.Teens are a diverse, vibrant, growing, and crucial market in the world today.Their beliefs, attitudes, and behaviors will affect the marketplace for many yearsto come. With their considerable trustworthiness, reach, and effectiveness,magazines remain a powerful way to connect to this valuable market.The current Gen Y teenagers are the hottest demographic segment in the worldworth many billions. Teens have become the targets of the marketers due to
 
TEEN MARKETING
2
rosy revenues that can be generated from them as they are the adult consumersof the future, as they build the brand loyalty and lend recognition to the products they use and prefer to have. But marketing to them is not as easy, asthe teen consumers are unique in terms of attitude, communication and purchasing power. It requires special tricks to be in connection with them and tomarket their products/services. The success of teen marketing campaigns liessolely on two components ± the delivery mechanism and the messenger. Ateen¶s consumer behavior is very much influenced by the heavy advertisementsdone by the company marketers and the promotion buzz of their referencegroups. Television advertisements plays a major role in introducing the new products/services and in reinforcing the sale of existing products offered to thistarget segment, which in turn influences their shopping decisions and helpsthem make a better choice while buying the products. A company can besuccessful if one is willing to capitalize on the linkage between teen marketingand increased profits.
M
arketers adopt various marketing strategies to reach and market theirproducts to the teenagers.
Lot of marketing and promotions are being done at places where they are more generally seen or hang out ± schools, colleges,streets, malls, restaurants, dance floors and coffee shops. The productinformation can be made to reach this highly sought-after target market not onlythrough TV ads but also through various other ways as they are the ardent usersof latest technologies and equipments like mobiles, the Internet, and the use of web2.0 technologies like ± Blogs, social networking sites, podcast and vodcast.Being brought up in a digitized age, they have all the information at their fingertips as they are well connected with rest of the world via Internet. Such being the nature of this teen customer segment, targeting them requiresknowledge of various tricks or ways. The prevailing trends and benefits, led torevolutionizing the marketing arena for the marketers and made many big andsmall companies use the Internet for marketing to teenagers and influence their  buying patterns through improved accessibility on 24x7 bases at less cost.On the flipside, some of the marketers are using advertising that is adult-like incontent. The TV commercials aimed at teenagers by the tobacco and liquor industries to promote their products, has become the hot discussion of families
 
TEEN MARKETING
3
that form the target market towards which the marketing companies need to bemorally conscious. If the marketers are ethically strong in their practices andsincere in their effort to build a good relationship based on trust with teens, itwill certainly lead to long term business success and increase the ROI as teensare exceptional practitioners of ³viral marketing´ and are future brand loyalists.
³A
dvertisements and
A
dolescence
:
The Impact of Advertisements onTeenagers´ is an invited article written by M S Sivakumar. It highlights howtelevision and advertising together have become an integral part of modernsociety and a most convenient route to reach the teenage consumer. It detailshow adolescents are being manipulated by promises made in advertisements andhow it impacts upon the buying patterns of the teenagers. The article details thefactors that influence their purchase of different items and their preference to buy a product.The next article
³H
ow Good a Shopper
A
m I?
Conceptualizing Teenage Girls¶Perceived Shopping Competence´ penned by
Lynnea
M
allalieu and Kay
M
 Palan
and sourced from www.amsreview.org examines how teens define acompetent shopper and how they perceive themselves as shoppers within their own normative framework of shopping competence. It helps to understand theshopping behaviors the teens exhibit, the purchase decisions they make and thelimitations they feel they must overcome in order to become fully competentshoppers.The outcome of various brand relationship studies has been that a remarkable part of consumers stay loyal to their childhood brands, so brand marketers areunderstandably motivated to influence future consumer as early as possible.
 The author Samil
A
 
A
ledin in the article
³
The
M
eaning of Brands at EarlyTeenage: Brands
³
in Private´ and in Social Interaction´ sourced fromwww.cbs.dk reveals that teenagers prefer rational, price- and quality-conscious consumption, to more spontaneous and emotional
³
gotta have it´approach
. The article highlights brand relationships, characteristics of Finnishteenage consumption, youth brands, and throws light on teenage consumers,

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