CHART CLOSE-UP FROM THE STORY:
iPhone Price Cut to Unleash College Students' Pent-Up Demand »
scroll down to read the full story

iPhone Price Cut to Unleash College Students' Pent-Up Demand

As they returned to classes, college students reacted positively to Apple’s announced iPhone price reduction, according to (pdf) a study by SurveyU, which has been tracking students’ feelings about the iPhone since May, prior to Apple’s advertising campaigns.

In a flash poll conducted the evening of September 5, 1,000 college students were surveyed to gauge the impact of the announced price reductions.

“Initially, college students were cautious about the hype surrounding the iPhone - media-savvy Millennials are more circumspect than previous generations, relying on word-of-mouth reference and direct experience to shape their opinions,” said Dan Coates, cofounder of SurveyU.

“College students have seen how the iPhone performs, and with this reduction sales among college students will see a solid bump with an even bigger jump upon the next release.”

When it comes to iPhone purchase intent, pricing is the key factor for college students: In June, July and August, 80% cited price as very important in their purchase decision.

As a result of the price drop, the importance of that factor has jumped to 90% among those who have not yet purchased an iPhone, SurveyU found.

As for the tens of thousands of college students who have already purchased an iPhone, most (85%) opted for the 8GB version and purchased their device directly from Apple (also 85%), it said.

The poll also sought to discover whether they now harbor resentment toward the Apple brand.

One of the most revered brands among college students, Apple will apparently dodge a bullet with its sudden price reduction, the study found:

Using a five-point scale wherein students indicated their agreement with two diametrically opposed statements, non-purchasers tended slightly toward supporting Apple and their decision, while purchasers tended only slightly toward reprimanding Apple for the sudden and dramatic price shift.

About the study: Some 1,000 online interviews were conducted between 4:00pm Eastern on Wednesday, Sept. 5, and 10:00am Eastern Thursday, Sept. 6. Respondents are participants in the SurveyU panel of US college students. Results were weighted to reflect the demographic composition of college students nationwide according to statistics published by the NCES (National Center for Educational Statistics).