Understanding the 21st Century Consumer

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Duration: 3:31
Source: Stanford ECorner
Author: Janice Roberts, Mayfield Fund
Copyright: Creative Commons: by-nc-nd
Found: Nov 5, 2009

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So, another thing that’s changed is that what we have to get to know the new consumer. It wasn't so long ago that we invested in a technology and the consumers who used that technology tended to be early adopters. They were half sort of VCs like me, perhaps you. Now, we're seeing technology is really going main stream. And the other big change is that consumers want technology but they also want to influence it. So, we're not packaging up a technology and putting it on a shelf of BestBuy and waiting for someone to take it and play with it. We really are interacting with consumers in very different ways. The demographic is changing enormously. I'm sure now that your parents are taken to technology in a way you wouldn't imagine a few years ago. In my family, we're sharing photographs, with most of family I text message on a regular basis, my father has a laptop, and he complained to me recently that there wasn't a WIFI network in the local pub, that's a big deal trust me, when technology takes on that level of ubiquity and pervasiveness in society. So, I'm very excited about that. And it really pervades many of the companies that we're looking at. So, the interesting thing is that consumers broadly now - not just like you or me, want to be connected always. So, we're looking to take more content to the mobile phone. They're interested in having information where and when they want it. So, obviously we've seen time shifting in the TV world. And now we're seeing a much more diverse set of programming being developed from New York and Hollywood and beyond. So, people are going to have their own ala carte menu of programs. It's going to be very interesting how these changes, how people want programs, a type of program that's going to develop, how are they're going to be taken to TV, to the PC and to the mobile phone. And these are all places that we're looking to play in. The other interesting thing is that consumers have higher and higher expectations ...
Language: English
Category: Business
Tags: Janice Roberts, Mayfield Fund
Country: United States


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