New devices increase their value by piggybacking off of common tech products
Implications - Considering the relative cost of new devices for consumers, it can be difficult to motivate consumers to make purchases. Clever tech producers have thus created highly functional, yet inexpensive products by harnessing the power of devices consumers already own. Extending this concept, upstart brands that leverage a knowledge of consumers' industry-specific purchases can deliver quality, affordable products.
Workshop Question - Brainstorm a product that functions through the use of a common item your target consumer already owns.
Trend Themes
1. Piggybacking Products - Companies are creating highly functional, yet inexpensive products by leveraging the power of devices consumers already own.
2. Smartphone-powered Devices - Products and programs are making use of the immense power of smartphones and tablets to create new multifunctional devices.
3. Cost-effective Designs - The low cost point and eco-friendly nature of repurposing old devices allows for more consumers to access technology.
Industry Implications
1. Consumer Electronics - By repurposing existing consumer electronics, companies can create new innovative products at a lower price point.
2. Home Security - Smartphone-powered home security systems creates a more cost-effective option for homeowners and renters.
3. Education - Smartphone-powered devices such as multifunctional projectors can improve the delivery of content in classrooms and professional settings.
