Thursday, March 12, 2020

15A Figuring Out Buyer Behavior No. 2

1.     I interviewed Benjamin Levine, Michael Sherman, and Michael Saltzman, three freshmen students at the University of Florida. They all have busy class schedules and only one of them has a job.
2.     Across the three interviews, there were two key factors that the interviewees cared about: price and quality. They see the item as something they would likely want but not need so the price could not be too high or they would have no incentive to buy it. In addition, they care about quality/effectiveness. The whole point of the product is to clean teeth and improve hygiene, so if it can not do so effectively, it would just be a waste to every customer. Side note, this product might be even more popular than ever as personal hygiene is of the utmost importance due to the spread of coronavirus.
3.     Although my segment is very young and orders a lot of stuff online, they definitely are more likely to buy something for their personal health in person. People like to see what they are getting if they know they are putting it in their bodies. Cash/debit/credit cards are definitely the more popular ways to purchase this low-cost item. A middleman pharmacy like CVS is likely to handle the transaction.
4.     What will help determine if it was a good purchase is if people feel more comfortable about their personal health after using the product. Their mouths should feel cleaner and their breath should smell fresher.  Bad taste in their mouth would likely make them think that it was a bad purchase.
5.     As previously summarized, the results were rather consistent across the three interviews, focusing on cleaner teeth, quality, price, and effectiveness.
6.     I would say this segment is a good fit for our product for a multitude of reasons. To begin with, the factors lineup because the product would be rather inexpensive, and hopefully, of high quality. Secondly, this segment doesn’t seem that hard to impress which is good because the product isn't earth-shattering. Finally, the product could be available either in person or online so its convenience will be high for college-age students.

2 comments:

  1. Hello Max,

    I want to say that you did a good job with all your three interviews. As I was reading your post I also noticed that all your three interviews provided you useful feedback about your target segment and that most of them have indeed concerns regarding quality, price, and the effectiveness of your product. Finally, I totally agree with your conclusion that because your product will be rather inexpensive, the barriers for people to try your product are going to be rather easy to overcome. Great insights!

    Sincerely,

    Javier Alfredo Felis Perez

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  2. Hi Max,
    It seems that you were able to gather some valuable information from your interviews and your customer preferences were similarly shared by my interviewees. Price and quality are two things that every customer takes in to account when purchasing an item. An online purchasing option at a low cost would be a great way to make sure you're attracting all audiences and making sure your product is widely known. You gathered some consistent and constructive information that could help in realizing what it would take to put out a successful product.
    Best,
    Reed Blevins

    ReplyDelete