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'Mommy' tech companies attacking $2 trillion marketWant to turn your iPhone into a kid's toy? CNET editor at large Rafe Needleman talks to tech entrepreneurs at the Mama Bear Family Tech Conference in Mountain View, Calif., about the market opportunity to develop educational games and toys for kids.
We're at the Mama Bear Family technology Conference in Mountainview. People are talking about family products as the trillion dollar market and everybody here is trying to get a piece of it. So, what the open space are going for here? We're looking at cool websites of resources for family, particularly moms and kids and parents. We think it's really a large market opportunity that has been very well served by a lot of entrepreneurs and working valley. We're funding a lot of family tech start ups to go after. How large is your market? We think our market is 2 trillion dollars. Our primary focus is the mom because they're spending about 85 percent of the household budget based on allover research and what we're seeing totally. But, you know, about 10 percent of our base is the people that support them. It's Dad, the Uncle, the Aunts, and brothers and sisters and Grandparents. Where's the money? I mean who do you go to if you want to make money in this market, the kids, the parents, or someone else? You really have to go to everybody. I mean the kids definitely have a lot of impact on (??) position. So, you have the message to them and really simple ways to make him tell their parents. Obviously, (??) parents 'cause they still hold the first string definitely and then you need to start talking about other people in the kid's life, Grandparents, teachers are massive influence, (??) the parents to get something. Do you want to play a game? Yes please. You're attacking the kids market with a plush iPhone cozy? Yeah. So, this is (Ubely?) right here and it hold the iPhone or iPod Touch. So, they have educational content, it has voice recognition, deliver like interactive games, (??) story. So, it's really appeal that product (??) rather than that, it's something that kids take care of have an emotional substitute. How are you attacking the kids market here? We have those toy (??) money safe (??). Our focus is getting kids interested in toys and then base on the story, opening up a(??) games for them. So, there you have it. Games, educational products, stores for mom, stores for dad and a lot of money taking after the next trillion dollar market.