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Spot The Next Hot Trend
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Article 7: Technological Trends
There’s nothing trendier than technology. Although some technological trends are so short-lived they appear faddish, most are genuine harbingers of the direction the market is headed.
Your ability to spot the trend and anticipate how it will develop has a direct relationship to your ability to profit from it. Consider these trend opportunities when plotting your coming year:
The convergence of audio, video, data and Internet. Satellite and cable television providers are giving away free what only a few months ago were several hundred-dollar digital recording devices that enable viewers to pause live action, capture broadcasts and replay them any time, even transfer them to DVDs or hand-held players. Coupled with wireless technology, this trend promises to revolutionize how people are informed, entertained and spend their time perhaps as no other innovation since Gutenberg’s printing press. Can your product or service fit in this evolving scheme? The portable entertainment or hand-held trend. If you think there are no opportunities in this area, you haven’t walked through the aisles of music or electronics stores lately. The Apple iPod alone, that ubiquitous hand-held music playing system, has spawned a legion of manufacturers and sellers providing accessories that until very recently never existed before. You can buy everything from fuzzy slip covers for your iPod to a cradle that shoves into your car’s cup holder to hold the music player while you drive, and even an FM transmitter to send the iPod’s music to your car stereo. When you consider the number of different sized and shaped iPods, then consider the dozens of competitors’ similar devices, it’s clear that there already is a booming market for a vast number of such accessories, and for those who sell them.
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