Impact of New Emerging Technology in Influencing Consumer Behavior

[Vivek Raghuvanshi]

http://corporaterisks.info/blog/?p=691

Impact of New Emerging Technology in Influencing Consumer Behavior

1. Babyboomers

2. Generation X

3. Generation Y

4. Net Generation

5. Mobile Generation

1. Babyboomers

Their average age is 55 years. They have been experiencing technologies since the last 30 years. These were the entrepreneurs who had a role to play in the evolution of new technologies. On an average, 25% of these customers are active computer users and use technology at work and otherwise. They make use of their affluence. Approximately 80% customers use word processing applications for communicating through formal and informal letters and on an average 60% of these send and receive emails on a usual basis.

2. Generation X

Their average age is 29. They were the first to experience new consumer technologies like personal computers, computer video games, 24/7 news, CDs, satellite TV, mobile phones associated with business and personal digital assistants. Their key values are individualism and self fulfillment. They are malleable, culturally incisive, commercially knowledgeable and highly brand conscious. Generation X is used to coping with new technologies, they are more keyed into design and fashion and are likely to keep this habit for a long time.

3. Generation Y

Their average age is 18 years. Their childhood was filled with advent of nascent modern technologies. This Generation Y is used to Palmtop computers, cable TV, console gaming games, the World Wide Web, mobile phones, digital cameras, e-commerce, digital TV and the omnipresent personal computers. They have seen the launch of Space Invaders and Pac Man.

4. Net Generation

Their average age is 15 years. Net Generation has experienced maximum number of technologies. The pace and intricacy of the technology market is being harnessed and exploited by them. Net Generation is self-assured, insatiable and investigational towards technology. Net Generation has become habituated to Windows, PowerMacs, e-mail, Playstation, palmtop computers, mobile phones, WAP, text messaging and broadband. Sony Playstation was released in the US. The gaming experience was further improved by the introduction of joysticks and steering wheels. Wing Commander III and the Heart of the Tiger were released which featured for the first time full motion video. Barbie Fashion Designer was launched and this created a new generation of girl games.

5. Mobile Generation

Their average age is 8 years. This generation will experience true intelligibility of technological interfaces and ever-present communication. This Mobile Generation is already habituated to cutting edge technologies and this segment will experience and shape G3, MMS and XDAs. This Mobile Generation is used to MMORPGS moving to enveloping gaming or games that play you. Mobile Generation differs from the Net Generation in the sense that the Net Generation sees Web as a virtual, whereas the Mobile Generation sees the Web as portable. Mobile Generation is at the threshold of witnessing the convergence of Web and mobile. The dissimilarity between the virtual, real and the third space will disappear.

Vivek Raghuvanshi

www.corporaterisks.info