15A – Figuring Out Buyer Behavior No. 2

15A – Figuring Out Buyer Behavior No. 2

Begin with alternative evaluation

I had to re-evaluate my interview questions before asking them because my opportunity is quite different than others. This is because my opportunity does not happen often, and there are not many alternatives. Losing your keys is not a product, in fact it turns more into a panic, but my product helps you find your keys with ease. When I asked my customers about price, quality, and other factors that appealed to their segment, really, they said “it can’t be too expensive, and if it’s no different than Tile, then why should I buy it?” This scared me for a little, because it looked like Tile had the upper hand on my idea. But then I asked more about pricing, and quality of my app compared to Tile’s and I think I could pull a lot of customers based of alternative evaluation in this segment. The innovations I chose to include in my app could be the reason why they buy my product instead of Tile’s.

How/where do they buy? 

When buying an app, I don’t know if it is even possible to pay with cash, so all of the customers within my segment will be paying through a card or Apple Pay. Customers can also purchase my product at any place, because the App Store can be accessed nearly anywhere with internet connection.

5) Post-purchase evaluation. 

When asking my interviewees about the ‘rightness’ of their decision after making a purchase, they all had similar answers. They said they based the satisfaction of their decision off of how it performs as a product. If it doesn’t function as they thought, and it was expensive, they will either return the item or say that the purchase was a poor decision. If it functions how they want it to, and it was relatively cheap, they will say the purchase was a good idea. They also said if it was expensive but worked properly and helped them then it was a good purchase.

7) Draw conclusions. 

After the interviews, I learned more about my segments alternative evaluation process, as well as the pre-and post- purchase decision process. In figuring out buyer behavior, we have to look at our business ideas’ ability to meet the content structure of the opportunity to accurately determine the relative attractiveness to our customers. I found that my customers segment had relatively similar answers and made decisions about purchases based on quality, price, etc. and evaluate whether their purchase was successful through evaluation of its function and price.