Buyer Behavior Pt. 2



I have focused my interviews on people who like to have the newest and most innovative technology. My first interviewee, Tim, told me when he is picking a product he does look at the quality and price. Since he is an engineer he likes to know he is buying a high quality product that is worth the price he is paying. My second interviewee, Carlie, said she cares a lot about the style of the product and the price. If she is going to be spending a higher amount of money on the product she wants to make sure it looks good and will catch attention. My third interviewee, Dominick, cares most about the quality and the price of the product. He does not want to finance a product but does like having new technology. The common alternative from all of my interviewees was price. They all would be willing to pay whatever price as long as it looked good or was good quality.

Tim and Dominick were most likely going to purchase a product if they could pay for the whole thing right away, where Carlie was okay with financing a product if she really wanted it. All of them said they prefer to buy products online through Amazon or something similar like Target or Walmart’s online store. They would be willing to go to a BestBuy or similar if the product wasn’t available online.

Tim looks back at purchases and determines if it was a good buy if the product is holding up and doing what he expected it to do. Dominick looks back and likes to feel satisfied that he spent the amount of money he did. Carlie likes to reflect on her purchase by determining how happy she is with the product. She likes to see if other people notice it and how much she is enjoying it for the amount of money she spent.

I think people who like to make purchases based on if it is new and innovative is a really interesting segment because different people still have different determining factors when they are buying a product. I noticed that they all like to have new products but are still conscious of the price. Two of my interviewees wanted to be able to pay for the whole thing right away and one didn’t mind having a payment plan.

The biggest realization for me as an entrepreneur is realizing how my buyers like to buy products and make sure I can satisfy their needs. If they like to make online purchases, then I am going to work very hard to make sure that is available to them. I also see that they like to look back on their purchases to determine if it was a good buy. If they think it wasn’t worth the purchase they probably will not recommend it to friends but if it was worth it then they will. I want to make sure that I have excellent customer service and can keep clients coming back in the future.

Comments

  1. UnknownOctober 21, 2018 at 11:08 PM

    Brooke,
    It sounds like you got a lot of valuable information from your interviews. I think price is really important in pretty much any product because it can be a deciding factor when it comes to buying something. Price was also the common denominator among my interviews. I think quality is also really important, especially when it comes to technology because sometimes technology can be really expensive, so it has to be worth it.

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  2. katerinagarciaOctober 22, 2018 at 12:57 PM

    Hi Brooke! I like how you included the option to finance, I did not think to ask about this when I was interviewing. I focused more on the method of payment such as cash, online, or check. I feel like you got a really in depth feeling about your client base which is so so important for entrepreneurs. I also didn't realize how important it is to some people that they have the newest technology! Overall your interviews were so in depth and you did a really good job!

    ReplyDelete
  3. Austin GalbraithOctober 22, 2018 at 8:11 PM

    Brooke,
    It seems like you understand what your buyers are looking for and what would make customers happy with their purchase of your product. My interviewees also said price is the most important thing when purchasing a product. I like how you said understanding what your customers want is a big realization as an entrepreneur. If customers like to purchase online, then it's a great idea to cater to their needs online.

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