Exchange students (or travelers to be more general) are particularly different to regular consumers. Cultural, social, and personal characteristics change when a person moves from their home country to a new one, which influences this group's buying decisions. What are major differences that marketers should be adjusting for this market segment?
Cultural Factors
Exchange students' culture don't really have an impact on marketing for their businesses because it doesn't have any meaning in the host country, but there are situations in which cultural differences can be marketed to attract internationals. One case in which the consumer's (exchange students) culture is relevant is when marketers are trying to promote a culture-specific product, such as Mexican food. This would be appetizing to a Mexican who misses home. This kind of marketing offers internationals a piece of their home country in the host country. Another situation would be when trying to cater specifically toward internationals who are wanting to get to know the host country's culture. This occurs when restaurants are labeled as offering authentic or traditional Spanish food. When marketing to exchange students, differences in culture are what attract most rather than similarities in cultural factors since this group is primarily wanting to know a new culture.
Social Factors
Reference groups, which are groups of people that have direct or indirect influence on consumer behavior, have the most impact on exchange students' buying decisions. Direct reference groups usually consist of family, friends, neighbors, coworkers and religious and professional groups for indirect. Direct influence usually comes from classmates, friends, and roommates while indirect influence can be from professors and organizational leaders. The most influence comes from friends. When you're studying abroad, the people you become closest to are friends that you meet at school or on trips. Depending on what these people say about their experiences, you base your decisions on that. If a friend has gone to El Tigre and tells me that it's great, it makes me want to go to try it out. If a friend says that the Prado Museum is amazing, it makes me want to go too. Also, when a server recommends a certain plate, you try it because you don't really have a preference yet. Exchange students depend highly on word of mouth when choosing where to go or what to buy, so marketers must ensure that the product or service they offer always leaves a good, lasting impression.
Personal Factors
Although slightly less impacting than social factors, personal factors, such as age, lifestyle, personality, and occupation, still influence consumer behavior for exchange students. The most important personal factors are age and lifestyle. Because of age, it can be assumed that exchange students will be looking to travel, go to bars, and see major attractions. Exchange students' lifestyle generally is time- and money-constrained meaning that they seek things within a budget but also convenient. These factors indicate mostly where exchange students are more likely to go and what they are mostly interested in.
New Strategies
Having discussed cultural, social and personal factors, the most common forms of marketing I have encountered are flyers and sales people standing in the streets trying to get you to come inside their restaurant or bar. Yet, both of these are highly ineffective. The flyers are usually thrown on the ground and sales people are usually ignored and even considered annoying.
Although exchange students are highly accepting of marketing advertisements, flyers and sales people are ineffective for this group as well. Not many businesses are taking advantage and marketing strategically to exchange students as well as locals. Sometimes I wish businesses would just market themselves in a way that was helpful in deciding what products to choose from without making me feel overwhelmed or harassed. I would suggest doing a sales promotion has been the best way of enticing me to go somewhere or to buy a certain product. As part of being on a budget, getting a promotion on something is highly sought after since being money-constrained is a personal factor. Also, sales promotions gets a lot people to try new things, which is especially a common act for exchange students. Going to new place in a new country is a fun, learning experience for exchange students, but businesses should understand this small market segment when attempting to attract more people into their restaurant or bar.
