[cm_ad_changer group_id="2"]

Makoya Youth Awards is testament that youth's make informed economical decisions!

 Aires was commenting on the forthcoming 2012 Student Village Makoya Youth Awards, scheduled for next week Tuesday at the Johannesburg Country Club in Woodmead, in the morning.

According to informed economical decision-makers, youth are the future generation and in the next decade the world will be about them, on them, and decided by them! Agree?   

The awards are based on national research conducted among tertiary education students at South African universities, throughout the country.  
 
According to Aires, there are 10 award categories covering different criteria. These include the Best 360 Degrees Award, the Most Aspirational Graduate Recruitment Programme Award, the Eye Catcher Award, the OMG! Award, and the WTF? Award, etc…  
 
The youth marketing campaigns on campuses are voted for by the students.

Past winners include PPC, Blackberry, MTN and Unilever.

An array of marketing and branding experts; clients and media representatives, advertising agencies and law makers, will grace the Makoya Awards-which loosely translated means-real deal.

Anyone wishing to attend the awards can RSVP here:
http://sv.co.za/breakfast/ or send email to:Tamsyn@studentvillage.co.za

Meanwhile, owning a car is part of ‘the dream’ for almost every South African student in the 18-25 year demographic but there are some serious financial insights and access challenges clouding the way. The SA Student Motoring Survey 2012 examined what exactly is holding them back.
 
The online survey carried out by youth marketing specialist Student Village, along with Amoeba Insights, during August this year included qualitative focus groups for in-depth contextualisation and insights. It showed that  only one out of every three students already own a car. Almost four out of five students intend buying a car as soon as they start work.
 
Of concern however is that most of these students felt intimidated when it came to obtaining finance, dealing with insurance providers and getting the right advice. “Let’s never forget that today’s students are tomorrow’s spenders.

So, understanding how they view buying their own cars and what’s holding them back is really important to local car manufacturers and all related financial/motoring suppliers, such as banks, insurance companies and even fuelling stations,” says Marc Kornberger, a director at Student Village.

“As such, our research not only highlights the market potential but more importantly, the stumbling blocks associated with this prospective growth – including financing, accessorising, refuelling and the insuring vehicles.”
 
The research further demonstrated that students view owning a car as route to their independence, as well as elevating their status on campus.

“Almost every student who took part in the survey saw owning a car as an extension of their personality. For them, accessorising their cars, as well as which brand and model of car they prefer, says a lot about ‘who they are’ as individuals and what they have achieved,” adds Kornberger.
 
The most commonly owned cars on campus currently are the VW Polo, Toyota Yaris, Opel Corsa, Hyundai Getz and Ford Focus. “All these brands are synonymous with the youth right now.

Car manufacturers wanting to tap into this market or increase their share should note that styling and additional value adds really count. For example, Hyundai seems to be gaining ground with youth, which may be due to its recent change in styling,” says Kornberger.
 
A strong indicator in the survey is that most student car owners had turned to their parents for advice when deciding what to buy, and how to finance and maintain their vehicles. “This need for advice by potential young buyers creates a massive opportunity for financial institutions, such as banks and insurance houses, to really hone in on the student market and provide the necessary transparent advice and support needed.
 
“Our survey shows ABSA, FNB (Westbank) and Standard Bank as the more approachable banks when it comes to car financing. However, nine out of every ten of our respondents said they felt intimidated by banks and did not believe they understood the needs of students.”
 
Other key findings, of interest to highlight include:
·    82% of current student car owners spend R3 000,00 per month on
vehicle repayments
·    Car insurance was seen as a ‘must have’ by many, although most
students believed that dealing with providers here would prove difficult
and costly
·    Another ‘must have’ is car accessories, such as tinted
windows, sound, GPS, Bluetooth, park distance control, and mag wheels
·    Almost half of student cars owners spend over R800 a month on
fuel, and their top three preferred suppliers are Engen, BP and Shell.
 
“Owning a car will be a reality for many South African students in the future. Marketers and manufacturers in the motoring sector could realise significant benefits from understanding this target market’s needs and aspirations with respect to fine-tuning their advertising campaigns, future design and innovations, financing packages and overall brand communications,” concludes Kornberger.

 

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.