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Book Presentation

Now or Never by Mary Modahl

Book Abstract

MAIN IDEA

The battle for Internet consumers is still being fought. It can still be won by either traditional companies or Internet start-ups. But time is running out:

• Traditional companies cannot ignore the Internet for much longer.
• Internet start-ups need to begin generating profits soon.

Internet based commerce is no longer a novelty but a genuine catalyst for change throughout the entire economy. It will continue to grow rapidly – reaching $187.9 billion by the end of 2004.

Whoever succeeds in meeting these three key objectives best over the next five years will prosper. Most likely, it will be a mix of traditional companies and Internet start-ups – with neither heritage guaranteeing success or mandating failure.

About the Author

MARY MODAHL is vice-president of research at Forrester Research Inc., a company which advises corporate clients on electronic commerce. Ms. Modahl has been with Forrester for more than 10 years, and was responsible for the launch of the company’s new media and electronic commerce practices. Prior to that, she was a loan officer with the Bank of Boston based in London. Ms. Modahl graduated from Harvard University in 1983.

Important Note About This Ebook

This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.

Summary of Now or Never (Mary Modahl)

Objective #1
Understand Internet Consumers

Main Idea

Attitudes towards technology are the key factor in determining why consumers buy on the Internet – not the traditional demographic factors. As the mainstream consumers (more than 88 million in the U.S. alone) start buying on the Internet, savvy Internet companies will change their products, services and marketing to align with the preferences of this new group.

Supporting Ideas

Traditional market research or demographics cannot forecast how many consumers will shop online because there are three factors that influence each consumer’s decision:

1. Their attitude towards technology.

   Those who are technology optimists see online shopping as more efficient and less hassle than the real world equivalent. Technology pessimists typically see online shopping as dehumanizing.

2. The household income.

   Those with an annual income exceeding $40,000 are more likely to be able to afford a computer than those below that income level.

3. Personal motivations.

   Whether or not they feel shopping on the Internet will enrich their lives. The three most common motives are:

   • To advance a career by learning more.
   • To connect with family or others of similar affiliations.
   • To be entertained.

This is how Forrester Research segments the U.S. population based on a survey of 250,000 consumers: