Automobile makers are investing heavily to market their products among youngsters, who will become a major portion of their targeted customer base. They might be young and bogged down by a number of restrictions, but their situation does not stop car makers from pursuing them. Statistics suggest that, as of now, youngsters living in families have lower purchasing power as compared to their parents. Some of the factors that cause this include the complexities of procuring a student loan, increase in the cost of fuel prices and dependence on other modes like two-wheelers and public transportation.
In an attempt to capture the imagination of the so called ‘millennial generation’, comprising people ageing from 18 to 34 years, auto makers are spending an awful lot of money on marketing campaigns. These strategies can be seen in the form of peer to peer advertising, making a presence on social media platforms and being an integral part in popular video games. As some would term it, this step can be considered the same as putting toys in a box of cereals a kid is about to eat to make the product famous. Industry experts have endorsed these steps taken by car companies, terming them as good investments for the future. Analysts feel that firms involved in these campaigns will surely have an advantage over rivals in the future.
Japanese car maker Nissan has taken such a step by sponsoring virtual versions of the electric Leaf in the popular video game, Sim City. According to Vinay Shahani, the Director of Marketing Communications for Nissan in the United States of America, the characters in the game are liable to get an increased level of happiness in case the Leaf is added to cities. He further added that this is aimed at making early inroads in the minds of youngsters to register on a level which affects their buying decision later on. "It's about promoting a lifetime customer progression in our portfolio," said Shahani.
Ed Kim, an industry analyst at Auto Pacific Inc. also endorsed this policy adopted by auto makers. "It may be a long-term endeavour to appeal to younger drivers because a lot can't afford new vehicles now, but they will a few years down the road."
Industry experts feel that it will not be long before that this becomes a trend in the Indian auto market as well. It can be noted that India has a high population of people belonging to the age group of 15-35 years. Considering this, it would only be fair for companies operating in the Indian market to take a step towards marketing their products among youngsters. Apart from this, the rise of social media platforms has swept the entire nation, thereby proving to be a good base for companies to build on.
