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Technology revolution among consumers

Author: Andrew McAfee, James Kirk (yBC.tv)

Categories: Business Strategy, IT Strategy, Marketing Strategy
The technology revolution is changing the way people learn about products. They are more likely to follow the advice of  an internet forum than an official review. Andrew McAfee discusses:

Embracing the technology revolution is vital to survival

Well if you’re ignoring the technology revolution among your consumers you’re clearly just missing the boat, in a very broad and deep way. It’s clear that we’re plugged in too much at the time, we’re staring at screens, that we’re getting a lot of our signals from our peers, from strangers over the net via review sites and judgement sites and relying less on the old guard for helping us figure out what our next purchases should be and how we should be shaping our behaviour. Any company that’s not part of that by now is already losing ground very quickly and that’s only going to accelerate. It’s striking to me how the old world of relying for example on restaurant critics and how many stars the hotel has, as given by the hoteliers body, that’s in the rear view mirror now, we just go to Yelp and Trip Advisor and look around. I can’t remember I looked at the official rating for a hotel that I was going to stay at, I find these things meaningless now. Look out for more videos about the technology revolution on Connected Economy TV.
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