Looking at Buyer Behavior Cont.
The segment of my potential market base I'm examining again is the environmental enthusiasts. As a reminder, these are the people that enjoy outdoor activities and need a convenient media for hydration (enter my water bottle) and ALSO likely includes the sustainability advocates.
Interview #1
This person described alternatives to my water bottle by illustrating different styles for the bottle. It seemed that they were mostly concerned with making their decision based on the style and functionality of the bottle, rather than cost or quality. One alternative he proposed was a water bottle that was shaped more like a canteen with a larger mouth. This person said they would look for options online first so they could scout out all of the different types of bottles. Once they narrowed down their options they would go to a store that carried the bottle they picked out. Most likely they would use cash/debit. He said when he evaluates a product post-purchase he thinks the most about whether the product actually satisfied his reason for buying something and if it was worth the money. If the product doesn't "live up" to its expected quality then that makes it a purchase not worth making.
Interview #2
This person mostly spoke about price when they were thinking of alternatives. They said that what they would probably end up doing is choosing the cheapest option, which in their mind is using a tool to clean the bottle instead of buying a new bottle. She described using a new toilet brush as a possible tool that would work and cost significantly less. However, I asked her to imagine she was going to buy a new bottle instead. This shopper says she usually shops in-person rather than online. She says she prefers to be able to physically see and touch whatever it is she's buying to ensure it's exactly what she wants. She would probably use a debit card because she never carries cash and the purchase wouldn't be expensive enough to finance it. Because her transactions would be solely in-person it would B2C. This person says that the usability and durability of a product are what matters most to her after she's made a purchase. If the product is dysfunctional or breaks it signals a bad purchase to them.
Interview #3
The third person said that when considering alternative water bottles, price is the most important aspect to her and it drives most of her purchasing decisions. She said because she is a college student, she doesn't have much extra money to spend on a new water bottle when she needs to save money for rent and groceries; so, when she decides to buy a new item it must be reasonably priced and quality. She said she'd be more likely to buy online for convenience in picking out the right water bottle and just because it's easier to not have to drive to the store. They would use a card because they don't ever use cash to pay for anything but they definitely wouldn't finance it because they don't have a credit card. The main thing that matters to her after she makes a purchase is if the product works. If it gets the job done, it was worth the money; it doesn't have to blow my expectations out of the water to be worth buying.
In Conclusion...
Overall, this subset seemed to be focused on the cost/quality of the product the most when they consider alternatives. This means that to target this section of my market I will have to ensure an affordable water bottle that serves its purpose to a tee. These customers will likely shop online at some point, if not exclusively and will use their checking accounts or cash to pay for the bottle. All in all, these customers thought that the product would be worth the purchase if it's usable to their expectations and not worth the purchase if it's dysfunctional.
Hi Jordan,
ReplyDeleteWow, your interview responses are very similar to mine and I am not surprised because our products fall into somewhat of the same categories of efficient products for outdoor people. I definitely think these interviews give you good perspective because they allow you to more closely define who y our target market will be. You have people who care more about quality, and people who care more about price. So if you were able to create a high quality at a low price, that would be ideal!
Thank you!
Holly Dixon
Wow, wow, wow! I think the attention and care you paid to finding and interviewing these three potential buyers comes through wonderfully here. At the same, I feel as though your analysis could have gone a bit deeper. For example, what does this segment use as a yardstick for 'quality' and what is the range of prices they consider reasonable? For my assignment, I had previously asked parents how much they spent on food per week, and those answers are going to help me out, maybe not now, but definitely down the line, you know?
ReplyDeleteHello Jordan! I feel that you got a good range of interviews that allows you to determine the best way to market your water bottles. All the interviews gave you a lot of insight on what they look for in your product, so this will allow you to align the way you sell your product perfectly within your target audience. Great job!
ReplyDelete