College Student Consumer Spending

College Student Consumer Spending

By John Cunha

I conducted my research on college student consumer spending because I wanted to find out how my peers spend their earnings as well as their thought process when it comes to their purchases. There is a good deal of information about what this demographic spends their money on, but not a lot about why they make specific spending decisions. In addition, I wanted to put together my own survey to fill any gaps that previous research has yet to address. By the end of my research project, I hope to: ? Better understand where college

students obtain their income and what they spend it on ? Discover new categories of spending that previous studies have yet to expose ? Provide useful information for local businesses as well as corporations about what college students look for in their products ? See trends in purchasing decisions that will impact the future of Marketing

John Allyn Cunha California State University Stanislaus Honors Program

jcunha2@csustan.edu

Poster Design & Printing by Genigraphics? - 800.790.4001

HOW do college students spend their money and WHAT factors influence their purchasing decisions?

Background

I draw on previous investigations of college spending patterns including "World Consumer Lifestyles Databook 2013" and "Ten things College Students Waste Their Money On" to find out what researchers say college students spend their money: Back-to-school supplies such as notebooks, pens,

calculators, and books New electronics including lap-tops and cell-phones University gear Going to social events, eating out, and buying

alcohol

(Above is a chart that focuses on specific areas of college spending)

My research process: Developed a research project and examined current

information available Developed specific topics based on research and

brainstormed which areas the research left out Examined my own college to see what topics would be

relevant in a survey Constructed a survey and received peer review to iron out

the mistakes and add necessary details. (By using "A Collection of Surveys on Marketing Experiments")

Future Plans Fall 2015- Administer surveys to a large array of students at

California State University Stanislaus Organize the data and find consistencies while making

graphs and charts Decide whether the survey should be taken to other

universities and compare how the results vary by region

(Below is the survey I developed for my research project)

However, upon examining my own university, which is classified as a commuter school, I realized that the consumer habits were much different: ? Spending on rent for an apartment or house ? Buying groceries rather than eating out or having a

meal plan ? Car payments, gas, and insurance

Consumption habits do not just vary depending on the person, but also on the institution, geographic location, and income of the student.

Expected Results

Through my research, I was able to gather specific categories that college students spend their money on. Beyond the information already available, I anticipate that my survey will: 1. Expose new consumer markets that have yet to be examined 2. Give marketing companies valuable information about how to market to the future major consumers

3.Explain the thought process behind purchasing decisions

Significance

According to , college graduates earn up to 66% more than those who hold a high school diploma. The reason why this study is important is because college students ARE the future major consumers of America and any information about the how, what, when, where, and why of their consumer habits is essential. Not only will this survey provide information about how much they spend on products and services, but it will also give insight into new products, needs, or ideas of college students that the working professionals have not even thought of yet.

References

Barnes & Noble College Marketing Agency Reaches nearly 5 Million College Students." Business Wire. 27 March, 2012. ProQuest. Print.

Hundekar, S. Principles of Marketing. Mumbai: Himalaya Pub. House, 2010. Print.

Mirabella, Lorraine. "Spending Jumps during Back-to-College Season." McClatchy - Tribune Business News. 23 August, 2014. ProQuest. Print.

Noussair, C. Tucker, S. A Collection of Surveys on Market Experiments. Malden, Massachusetts: Wiley, 2014. Print.

"Roanoke College Poll: Virginians Optimistic About Economy, Consumer Spending." Economics Week. 9 December, 2011: 545. Print.

Seckler, Valerie. "Why College Students Keep Spending More" WWD, 190.63 (2005)

"Ten Things College Students Waste Money On." Forbes. Forbes Magazine". Web.

World Consumer Lifestyles Databook, 2013. London: Euromonitor International, 2013.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download