Page 3: Reasons for change: research results
Every day, young people are bombarded with messages in the form of TV adverts, posters, mail shots or internet banners. But is that what they really want? Feedback from YBS customers allied to market research results suggested this is a differentiated market with differing needs and wants.
YBS commissioned research to help it understand its target audience's needs, behaviours and motivations and to identify their various life stages/age splits. Research found that:
- among young people, there is little desire to save money -"it's for spending"
- having a cash card (ATM) is highly important to all ages, and especially those over 14.
With its consumer-orientated approach YBS went on to find out more about individual customers, their needs and how these could best be met.