COLLEGE PARK, Md., March 12 /PRNewswire-USNewswire/ -- Americans'
appetite for environmentally friendly technologies and consumer products is
grossly underserved, with a potential $104 billion in sales this year,
according to the 2007 National Technology Readiness Survey (NTRS) released
today. The annual survey -- sponsored by the Center for Excellence in
Service at the University of Maryland's Robert H. Smith School of Business
and technology research firm Rockbridge Associates Inc. -- found that 71
percent of adults are interested in green technology, but there is a large
gap between the number of products consumers own now and the number they
say they would like to own.
The $104 billion market opportunity represents the annual sales
potential of the 11 product categories measured in the NTRS. More than
half, $54 billion, is the potential for sales of "green" vehicles,
including high-mileage, hybrid fuel, biofuel, and alternative-fuel
vehicles. Researchers measured respondents' interest levels for each of the
green product categories and calculated market value based on average
selling prices.
"The key to tapping this huge potential market is targeting and
appropriately addressing the green consumer," said P.K. Kannan, director of
the Center for Excellence in Service. "Our research found that green
technology trends are led by a small, yet powerful group of influencers
that actively act as evangelists to a secondary group of adopters."
The NTRS classifies respondents into six segments based on their
commitment to green technologies, their influence on others on being green,
their skepticisms about green and their interest in technology. The survey
finds that those most committed to the environment -- 10 percent of adult
consumers -- are also very enthusiastic about technology. These "green tech
leaders" are the same consumers who are often approached by others for
advice on technology and the latest gadgets and devices. The researchers
urge marketers to target this segment when introducing green products and
services.
"There is a great opportunity for firms to not only target these green
tech leaders to adopt their green products and services, but also use them
to get the word out," Kannan said. "This market segment tends to be
younger, heavier users of online social media and more enthusiastic about
technology in general. They write blogs and advise others, and they also
create a strong social networking effect that is critical for diffusing
green technology to the larger market."
"Marketers also need to be mindful of their message," said Charles
Colby, president of Rockbridge Associates. "Consumers are quite sensitive
to companies that don't follow through on their promises. Firms that
misrepresent or exaggerate the benefits of their green technology may find
it backfires with consumer hostility or rejection."
2007 NTRS Findings
-- 83 percent of adults want to preserve and protect the environment
-- 42 percent of adults said products and services that help the
environment are hard to find
-- 59 percent of adults say they like trying new technologies that help
the environment
-- 56 percent of adults say gadgets designed to help the environment
would be fun to own
-- 68 percent of adults like to do business with companies that are
environmentally responsible
-- 72 percent of adults say they resent companies who say they care
about the environment but are not sincere
Other findings in this year's NTRS include information on digital
content downloading and e-service trends.
About the 2007 National Technology Readiness Survey
The National Technology Readiness Survey (NTRS) is an annual study
produced by Rockbridge Associates Inc. and the Center for Excellence in
Service at the Robert H. Smith School of Business, University of Maryland.
The NTRS, founded by Center for Excellence in Service senior fellows
Charles Colby and A. Parasuraman, tracks beliefs about technology and key
behaviors related to e-service. The 2007 NTRS was based on a random sample
of 1,025 U.S. adults (18 years or older). In 2007, 500 people were polled
by telephone from September to October, 525 were polled by Web survey in
November.
About the Robert H. Smith School of Business
The Robert H. Smith School of Business is an internationally recognized
leader in management education and research for the digital economy. One of
14 colleges and schools at the University of Maryland, College Park, the
Smith School offers undergraduate, full-time and part-time MBA, executive
MBA, MS, PhD, and executive education programs, as well as outreach
services to the corporate community. The school offers its degree, custom
and certification programs in learning locations in three continents
including North America, Europe and Asia. More information about the Robert
H. Smith School of Business can be found at http://www.rhsmith.umd.edu.
About Rockbridge Associates Inc.
Rockbridge Associates Inc. is a leading technology research firm based
in Great Falls, Va. Clients include Fortune 500 companies, government
agencies and associations. Rockbridge conducts primary research and
consulting to help with product design, positioning, pricing, and customer
satisfaction. http://www.rockresearch.com
SOURCE Robert H. Smith School of Business
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Related links:
http://www.rhsmith.umd.edu
http://www.rockresearch.com
CONTACT:
Carrie Handwerker of Robert H. Smith School
of Business, +1-301-405-5833, chand@rhsmith.umd.edu
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