Three Interviews: I conducted three separate interviews with three different students. Two students were from Florida State University and the other student was from Florida Atlantic University.
Alternative Evaluation: all three college students agreed that the aspect that matters the most is the price of the product/service in relation to their picking. Considering these students are continuing to invest money into tuition, meal plan, room and board, they cannot afford to allocate a significant amount of money into a certain product/service without being fully confident that it's a beneficial, worthwhile purchase. The students also mentioned that quality was another vital factor, and stated that the aspect of style did not necessarily matter nor influence their decision-making process. Ultimately, there is certainly more than one factor that is important to my customer segment, with the price and quality being the most prevalent factors.
How/Where Do They Buy: I strongly believe that my particular segment is highly more likely to buy online than in a store. This is because they can potentially find discounted prices as well as read the ratings/reviews for the product they are interested in. They would also be more likely to finance the purchase as opposed to using cash mainly because financing is a more common, affordable and manageable option for college students.
Post-purchase Evaluation: the aspect that matters most to my customers when they think back on the "rightness" of the purchase was whether or not the purchase was "worth the money" and quite useful to them. Essentially, they can determine whether the purchase was a good idea if they ended up utilizing the product/service relatively often and not just occasionally/rarely. The sorts of things that cause them to think a purchase was a bad idea include: not using the product, neglecting the product, and having minimal to no interest in the product whatsoever.
Report Of My Findings: in summation, the three interviewees appeared to be highly intrigued by the service at first glance. However, they still desired to learn more information in regard to the service itself before investing their money into it. Moreover, all three individuals agreed that they would rather acquire the product/service online rather than physically making the trip to the store since it's far more convenient for them. Although the college students did mention that they would prioritize the quality of the product/service, they all reached the consensus that the price was undoubtedly the most crucial component/factor in terms of finalizing the purchase.
Conclusions: judging from my three interviews with the college students, I can safely conclude that they are all collectively smart with their money and refuse to spend immaturely. These interviewees truly admire a useful/meaningful product and would not make a purchase if they realized the product or service would be irrelevant and counterproductive. They would prefer to spend their money wisely and not make any irrational/impulsive purchases due to the fact that they are all in college and are currently paying for a plethora of college based expenses.
Hi Samuel! I really liked how you took valuable information from your interviews to determine how your customer base will most likely utilize your service. I think that concluding college students will most likely purchase online is accurate. Today, they can link their credit and debit cards to specific websites, making payment quick and easy. I also liked how you identified that quality is the most important aspect to college students because they are not as financially stable so they want a service that they can rely on. Overall, I thought you did a great job identifying buyer tendencies.
ReplyDeleteHey sam,
ReplyDeleteOnline is definitely the way to go. It is much simpler for the person running the business and the customer. I'm glad to hear that this assignment was a success for your product. I had challenges with finding different interviewees, but I see that all three of yours were really helpful. Overall, I think that you have more of an understanding for where you want to place your product and why.
Hello Samuel,
ReplyDeleteI really enjoyed reading your post! I think you explained your idea very well with good detail. I think there will be a huge opportunity to market your product to "fit" college students and even others. I think if you market your product all around campus and online + social media your product will be a huge hit hit. Great work!