Tag Archives: building value
Automakers face a dilemma as more and more teenagers are declining to drive. College advertising may be the solution to reaching college students and capturing the youth market at full throttle.
Trends don’t look good for automakers. Teenagers are waiting longer to get their driver’s license, let alone a car. A recent article featured in the Chicago Tribune, Cars not a driving force for teens, drives this point home stating, “Many youths today are more interested in phones and social media than cars, a trend that has long-term implications for concerned automakers.” This is troublesome as cars use to symbolize a coming of age moment; having your own car signified freedom, adventure, and youth. While it can still represent those things, automakers have to be savvy when advertising to students and youth marketing.
Increasing discretionary spending among college students means college advertising is essential now more than ever. If college students recognize the advantages of your product, price does not have to be the determining factor when making purchases.
College students often get classified as poor or broke and to some extent that is true. According to American Student Assistance, “there is roughly somewhere between $902 billion and $1 trillion in total outstanding student loan debt in the United States today. The Federal Reserve Bank of New York reports $902B while the Consumer Finance Protection Bureau reports $1T.” The majority of college students today have to take out student loans to help them with their education costs and living expenses.