• Ad Age, Wednesday, November 21, 2007 12:47 PM

The Millennials have lived in a media-saturated world from a young age. Consequently, they are clued into--and tuned out of--marketers' most ingenious means of influence, according to conventional wisdom. But Notre Dame instructor Carol Phillips says that college kids naiveté regarding retailers' role, the true target for many brands, the rules on pricing and how product placement comes about might surprise you.

Among her observations: Don't worry much about how to make a product or its advertising relevant to college students. If it's useful, they will believe it's for them. And students are surprised to learn that manufacturers have limited say in how much their products will sell for. The implication is that the manufacturer will get the blame or credit for very high or very low prices, not the retailer.

Finally, college students think of themselves as highly rational, price-oriented buyers. When asked to identify their favorite brands, they are unable to name more than one or two: Apple. Nike. Adidas. The reason for their nonchalance is that they are unaware how many of their decisions are brand-driven.

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