What Teens Want and How to get Their Business: Market Segmentation and the Teenager
Abstract
Teenagers are the fastest growing group of consumers in the world. Every
year teenagers spend more than $55 billion dollars. This paper examines the
different market segments that have evolved with the growing adolescent market
and how to best target the teens in each segment. The use of different forms of
media to reach adolescents is examined with particular attention given to the
internet and its role in teenagers' consumption. By looking at original data collected
from the Kalamazoo College student population, it is possible to apply the concepts
of market segmentation to a "real world" population sample. This allows us to
understand what teenagers want and how to get their business as they become more
market savvy and increase their spending.