November 13, 2005
Echo Boomers
This is a prelude to Bangalore vs BayArea - Part IV and hence a mezzanine entry between Bangalore vs BayArea - Part III and likely-to-be-posted Part IV. Some of the questions that I had left unanswered with Part III were :
- What are the most important ideas Bangalore can emulate from Bay Area?
- How to fuel entreprenurial hunger in the otherwise complacent Indian “Think Tank”?
- What are the tactical, strategic and demographical cohorts that needs to be looked at?
For starters its the Echo Boomers. This generation is coming of age, and its inevitable. What’s more, being a band of around 80 million in strength, and with an individualistic attitude never before seen in history, this generation will redefine the economic markets world over. A consumer behaviour that is individualistic in nature will always demand “Tailored & Esoteric solutions” rather than “Generic products”.
An assertive, self assured, self empowered generation, it will have a $180 billion in annual spending capacity according to Doug Akin, managing partner of Mr. Youth, a marketing company that specializes in youth marketing.
So what are some of the details that the new startups coming out of Bangalore & BayArea need to concentrate on.
- This group spends around 15 hours per week on the web, doing everything from downloading music to chatting with friends, to looking for deals.
- This group is highly internet savvy and responds to electronic communication, they seek out opinions of others, understand and access instant information routinely and they will mix and match products to satisfy their needs for style and convenience.
If you want to avoid a mid-career crisis, and grow consistently with the changing market, follow the pulse of the “Echo Boomers”. What are you waiting for ?. Get started by googling “Echo Boomers”