“Green” has certainly become the new buzzword. Whether it is in reference to the assumed global warming or the approach we should all take in our car purchases, it has never been more popular to “Go Green.”

 

This approach is also spilling over into our love of technology and into the corporation. According to the 2007 National Technology Readiness Survey (NTRS), America’s appetite for environmentally friendly technologies and consumer products is grossly underserved.

 

This survey found that the potential in the industry is at least $104 billion in sales this year alone. It also found that 71 percent of adults are interested in green technology, but there remains a large gap between the number of products that consumers now own and the number they say they would like to own.

 

This 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., measured 11 product categories to determine the market opportunity.

 

More than half of the $104 billion market is represented by 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, in a company statement.

 

“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.”

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.

 

Those that appear to be the most committed to the environment – about 10 percent of adult consumers – are also very enthusiastic about technology. Labeled “green tech leaders”, these are the same consumers who are often approached by others for advice on technology and the latest gadgets and devices. Researchers urge marketers to target this segment when introducing 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, in a statement. “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.”