The following is the abstract from the full report:
This new Packaged Facts report offers a comprehensive analysis of the youth market, which is comprised of more than 40 million consumers in the 15- to 24-year-old age group. The report provides an in-depth demographic profile of the youth population and includes forecasts of the purchasing power of key segments of the youth market through 2007. Simmons Market Research Bureau and U.S. government consumer expenditures data are used to present a comprehensive assessment of the attitudes and buying patterns of young consumers. Media usage habits and media serving the youth market are discussed. Marketing, promotional, and advertising strategies are analyzed, and case studies of companies targeting the youth market are highlighted. The report identifies trends and opportunities that are vital to marketers seeking to capitalize on the youth market. Separate chapters are provided on the trendsetting urban youth segment and highly prized college segment.
With purchasing power exceeding $350 billion, 15- to 24-year-olds present a marketing target that is both tantalizing and confusing. Youths in the 15- to 24-year-old age group can be found following diverse paths as they make the transition from high school to young adulthood. While a substantial minority are full-time students, others are working full-time at relatively high-paying jobs. While one in three 18- to 24-year-old females are married and one in five are raising children, more than half of their male counterparts are still living with their parents. Moreover, the youth population is marked by a bewildering array of subcultures ranging from hip-hop to extreme sports.
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