1. Choose one of the “11 Crucial Consumer Trends for 2011” (http://trendwatching.com/briefing/) Relate this week’s readings to the new innovation trend. Focus on a particular/single company that is given as an example in the trend list. Do you predict customers will flock to it or avoid it? Justify your answer based on your understanding of products, consumers, and the economy from the readings.
The 2011 trend of “Planned Spontaneity“ absolutely fascinates me. And I think customers are absolutely flocking to this concept, especially in light of the combination of the mega trend “Urbanomics” with the continual innovations in smart phone technology. The question is, which location-based social networking app is going to reign supreme in this category? I’m not knowledgeable enough about this industry to even dare to predict that, but I decided to focus on Foursquare (as a dedicated service) as opposed to the more well known Facebook or Twitter apps. The foursquare website is fun (http://foursquare.com/). They explain their product in a great, short video. The founder has a neat history. And the premise of their app is simple: have fun, find your friends, and explore your city.
I used to think of social network “addicts” as people who sat behind a computer all day and all night, instant messaging, chatting, and e-mailing with other people, but rarely connecting with people face to face. But, the smart phone revolution has allowed people to connect online and in person, and all at the same time. And with a free download of Foursquare, people can economically (and instantly) find out where their friends, family, and coworkers are congregating. At the same time they are connecting with people, they can explore places and venues they never knew that existed right in their own geographic area.
Foursquare is the type of product / service that fits perfectly into the economic lean times that we...