Tuesday, May 05, 2009

MTV / Viacom Study: Youth Value Wesbite Reviews

One of the most coveted marketing demographics, the 12-24 year olds, also known as the "Millenials", is becoming increasingly reliant on online research for consumer info.

MTV Networks International (MTVNI)and its parent company, Viacom (NYSE:VIA)surveyed youth in UK, US, Germany, India and Japan. The research revaled some interesting data regarding online influence.

• 71% of those surveyed agreed that the internet makes choosing a brand easier, while blogs, review sites and social networking sites are increasingly important in affecting brand decisions.

Other interesting stats:

• Website reviews are the 4th most important factor for movie decisions behind friends, TV and cinema ads and they play an equally important part as official websites when youth are looking to purchase electronic items.

• Overall, across all markets, the vast majority of young people (69%) now research all purchases before buying anything.  This reaches a peak of 63% in the UK, 80% in Germany and 87% in India Practical considerations rank highest when determining what makes a brand desirable.
• 12-24 year-olds deem quality, history and trust as the most important attributes a brand can possess
• 18-24s are much more concerned with a brand’s history and 51% say that, “knowing a brand has been good for a long time”, makes it desirable. 

Evidently, the Hulu Effect continues to transcend mainstream culuture throughout the world.

Posted By Matt O'Hern at 09:12 AM
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