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.