Marketing Forecast from Ad-ology

The more than 20 million U.S. college students wield $417 billion in spending power, according to re:fuel’s College Explorer survey. Nearly half of college students’ discretionary spending (46%) goes to food. College students also spend heavily on technology, owning an average of six digital devices. Approximately 20% of students surveyed plan to purchase a smartphone within the next year.

Ad-ology Research recently updated their Industry Marketing Insights report for Exam Preparation Services. The following are the predicted Top 3 Opportunities/Challenges from the report for this industry for the upcoming 12 months:

More than half of U.S. children and adults have never received music education, though a majority (68%) thinks it’s important, says a new IBOPE Zogby poll commissioned by Primrose Schools. Over 70% of adults recognize that music education enhances children’s music appreciation, cognitive development and creativity. Early, consistent exposure to music has been found to support musical ability, language development, motor coordination, social skills and learning.

According to new research from Sallie Mae, 90% of students strongly agree that college is an investment in the future, an increase from 84% in 2010. 70% of students and parents strongly agreed that a college education is necessary for their desired occupation and to earn more, but more families are taking cost-savings measures, such as attending lower-cost colleges, living at home, or going to school part time.

A new class of undergraduates will be arriving at many college and university campuses within the next few weeks. So it must be time for the admissions office to crank up the marketing machine again. For many institutions of higher education, marketing these days is all about digital and social.

For many U.S. students, moving out of their parents’ homes and onto a college campus is an expensive rite of passage. But with the economic recovery stalling and the cost of higher education increasing, some colleges are promoting a less costly way to obtain a 4-year or Master’s degree. One of the latest programs being marketed by for-profit colleges is the online study option.