Figuring Out Buyer Behavior #2

For this exercise I picked interviewees from the segment: college students. I interviewed Kaley, Evangeline, and Justin in order to collect my information and draw conclusions. Kaley said that when she goes to buy anything unfamiliar, she looks up ratings, most of the time these ratings are judging the overall quality of the product. For her, quality is important because something that will not work properly or will not last long is a bad investment. Kaley enjoys shopping online because she can easily look at the reviews listed for the products which include critique along with images. Because she bases her initial impression off of reviews, she compares her initial impression to her post-purchase impression and then posts a suitable review detailing whether she is satisfied or not. Evangeline expressed that she oftentimes does price comparison when products are of the same or similar quality. Quality is important to her, however if she can make a cheaper alternative work then she will. Evangeline never shops online because she liked to be able to evaluate a tangible object so that she knows exactly what she is buying. Evangeline said that she bases her level on satisfaction on what she expected to get out of the product versus what she got. Justin emphasized quality as the most important aspect of a product, he said that quality should be of top priority to those producing and those buying a product. Because he feels financially stable, he values a quality difference in products much more than he values a price difference. Justin prefers shopping in person because sometimes the items he orders off the internet do not arrive the same as they were advertised; however, he buys regular items that he is used to purchasing through amazon because it is convenient and cheap. Justin says that he is often dissatisfied with a purchase when it doesn't function exactly as it should, because he focusses on quality rather than price: he is disappointed when the product is not of high quality.

In terms of evaluating alternatives, it appears that this segment is mainly focussed on quality. Although Evangeline did introduce price as a consideration, she said that quality is what she prioritizes with price as a secondary factor. There was variety in this segment on how they preferred to make purchases, there was a mix on preference in regards to shopping online versus shopping in a physical store. It appears that online shopping offers convenience whereas in store purchasing ensures quality. In this segment, post purchase evaluation was largely focussed on whether the product lived up to the standards that were preset to the buyer. When the product is less than expectations, there is dissatisfaction, whereas if the product lives up to expectations, there is satisfaction.

Halfway Reflection

Along with this course, I am taking two other classes as well as working everyday and volunteering. Because of my quick change into a full schedule, I've had to adjust quickly and develop tendencies to help balance the different aspects of my life. In regards to this class specifically, I've attempted to be as proactive as possible. Each week, I read the description of assignments early on so I can decide how long they will require to complete and then block out time periods to complete them. Early in the week, I also decide the days and times when I will fit my lectures into my schedule.

For this class, I would say the most crucial behavior I've developed is planning ahead. Planning ahead ensures that I have enough time to complete the assignments by their due dates. There have been many moments when I felt like giving up, oftentimes I come home from work exhausted and would do anything just to relax or go straight to bed but I just make myself focus in order to complete my assignments. I do feel that I've developed a tenacious attitude these last few months mainly because that is the only way that I will get where I want to be; I only have two semesters left until graduation and am determined to finish strong. 

First, for future students I would encourage that they envision what their goals are in life and how this class contributes to their journey to reach them. Second, I encourage planning; planning is crucial in succeeding in this course because it ensures that work does not pile up on you. And lastly, I encourage future students not to give up, not even for a single assignment! In the end, one assignment might be the determining factor of a grade, it is important to push oneself so there is wiggle room when necessary.

I've included this picture because it is an accurate representation of me this summer :)

Figuring Out Buyer Behavior #1

The segment I selected to evaluate for this assignment was middle-aged men. The people I found to interview that fit into this segment were my friend's dad, and both of the owners of the two businesses I work for. While interviewing, I asked questions that could first determine if these men shared the need for a battery-powered breathalyzer that attaches to their car keys and then I asked questions regarding the situations that they may find themselves in where they would benefit from having this product. Finally, I asked questions that facilitated discussion of information search.

Interview #1: Friend's dad
My friend's dad said he mostly engages in drinking at night after work or on his days off in both social settings and his home setting; when drinking in social settings he often drives home and when at home, he sometimes receives calls from his kids needing rides. He said he would get the most use out of this product when he was driving passengers in his vehicle because keeping his family and friends safe are of high importance to him. When asking my friend's dad how he begins gathering information, he says he always resorts to an internet search on his phone.

Interview #2: Owner of business #1
The owner for the golf course I work at is single and usually engages in drinking in the evenings when he meets up with his friends at a local restaurant or bar. Although he has a short commute home, he is still concerned with safety when getting behind the wheel after drinking. He said that because he drinks at night, it is oftentimes dark when he is on his way home which leaves more room for error in driving due to lack of visibility. When we discussed information gathering, he said that because he is very well connected through the business he owns, he often asks other individuals about things of concern, he said that he usually knows at least one person that has the answer to his questions or problems.

Interview #3: Owner of business #2
The owner for the gym I work at is married with two young children. He doesn't engage in drinking often but when he does it is usually at a dinner with family, friends, or people in his company. He said that since him and his wife first started dated, he took the role of the driver, therefore when he drinks it is important that he is responsible and can drive his wife and family home safely. He expressed that he would use this product in situations where he was unsure if he had consumed a safe amount of alcohol to drive home. In terms of information gathering, he said that he enjoys engaging in thorough research when faced with a problem that needs solving. He usually refers to searching the internet on reliable websites and then gets second opinions from family or acquaintances that he trusts.

The segment of middle-aged men is aware of the need for the main reason of keeping themselves and those they care about safe; whether they are single or married does not appear to affect this demand for responsibility. Because they oftentimes drive themselves or their families home, they would make use of this product to ensure that they are within the legal limit of alcohol consumption. In terms of information gathering, middle-aged men tend to refer to the internet or people for answers to their problems or information regarding their discovered solutions.

Reading Reflection

For this assignment, I read The Wright Brothers by David McCullough. This book is a biography of the Wright brothers, Wilbur and Orville. Together, over a ten-year time period, the Wright brothers invented the first functional flying machine. What surprised me the most about the Wright brothers was the fact that these brothers, who changed the world through invention, didn't even attend college. Although they lacked a higher education, both Wilbur and Orville were incredibly smart and talented in their own ways which combined set them up for great success. What I really admire about these entrepreneurs is their perseverance. Although the brothers faced multiple setbacks and discouragements, they persisted in their mission to create a flying machine for over ten years; and had they not succeeded in that timeframe, I'm confident that they wouldn't have given up until they did. There is really nothing that I least admire about these brothers, but I'd say maybe the fact that they didn't persist longer in selling their invention to the United States. The Wright brothers faced much adversity in their journey from people who did not believe in their ability to succeed which was coupled with various setbacks, however, they kept focussed and never gave up. These brothers' greatest competency was their commitment to their mission, without this commitment, they would have let their setbacks halt their efforts. The only thing I was confused about was the fact that the Wright brothers had a limited amount of time and money and were still able to put forth the work required to innovate at such an extreme level. If I were able to ask these brothers two questions, the first would be 1) What were your fears when beginning your journey to create a flying machine? and the second would be 2) At what point were you closest to giving up on your dream of creating this machine/what setback proved to be the greatest in your journey? I would ask these questions because I so often don't approach a situation because I am afraid of failure, or will opt out of something at a certain point when there aren't signs of future success. I believe that the Wright brothers valued hard work and saw it as the only option to get from where they were to where they aspired to be, ultimately, I view hard work as the only option as well.

Idea Napkin #1

I. Throughout my life, I have consistently reminded myself that the world is much greater than just me and that in order to feel fulfilled, I need to not only continuously strive to improve my own life, but also help lead others be the best that they can be. One thing I genuinely enjoy doing is helping others, or making their lives easier/better in whatever way I can; this is why I've decided to pursue a career in healthcare. Also I do not intend on starting a business, if I did, my product or service would have to be something that would help others. This concept I have explored so far, strives to do just that.

II. Because many individuals do not have a convenient way of testing their blood alcohol level before driving a vehicle, I am offering this convenience through a battery powered breathalyzer that connects to one's car keys.

III. As far as demographics, my customers would most likely be at or above the age of 21. Although some might find use of this product who are not of drinking age, I believe most of the purchasers would fall in the 21+ category. As far as psychographics, I believe that my customers would be of the responsible type or have values that prevent them from putting themselves or others in danger by driving their vehicle over the legal alcohol limit. Also, their lifestyle would most likely be one that includes drinking, those who do not drink would not find use in my product.

IV. Customers will pay money for my product for the same reason they pay for things such as pepper spray, uber/lyft rides; safety. This product will not only provide safety for the user, but also for society as a whole. It will also provide safety from other consequences such as fines, a criminal record, and the loss of future possibilities due to poor decision making. 

V. I'm set aside from many because I genuinely find more happiness in helping others than I do in doing things for myself. My main focus is leaving a positive impact on this world in whatever way I can, whether big or small.

The elements listed and described above fit together well. Because I strive to leave a positive impact on this world by helping improve the lives of others in whatever way possible, it is important that my business concept works for societal benefit. Safety is an extremely crucial measure to take in various contexts of life because taking caution is how we protect ourselves and our well-being. Every individual owes it to themselves and society to value their own life and the lives of others by not creating dangerous situations.

Testing the Hypothesis Part 2

Interview Findings

In this second part of testing my hypothesis for the opportunity of battery powered breathalyzers that connect to keychains, I interviewed my sister, my roommate, two of my best friends, and my Wednesday night uber driver (lol). My sister is 23, my roommate and friends are all 21, so these interviews unintentionally targeted a younger crowd. My uber driver was somewhere in his late 30s so he gave me some insight into consumers who are not of college age. Overall, the younger aged crowd opened my eyes to the fact that they rarely drive after consuming any alcohol at all and this was because the bars they go out to are relatively close to home and require a brief walk or cheap uber fare to get home. My sister, who doesn't engage in any form of drinking, said that this product wouldn't be useful to herself or others who don't drink which cuts out a number of people. My uber driving expressed that although the idea was great, it likely wouldn't be useful to the younger populations in college towns because of the level of intoxication that he witnesses when picking students up from the bars, he said that anyone in that condition hopefully wouldn't even consider driving, and if they were, they would be unlikely to listen to a device for decision making. He also explained that with uber safe ride, which lowers the uber fares substantially for students, most people don't mind calling for a ride home. 

Who: Are there certain people or certain businesses that, although they share a lot in common with the others in your opportunity, nevertheless fall outside the boundary? Why? 

• Although they share the commonality of being of drinking age: college students likely fall outside of the boundary of my opportunity. This is because college students oftentimes live close enough in proximity to the bars at which they drink to walk or call a cheap ride. 
• Although they share the commonality of being of drinking age: those who choose not to partake in drinking fall outside the boundary of my opportunity. This is because, since they do not drink, they are aware that their blood alcohol content is within safe and legal limit to drive.

What: At what point does the need you identified differ from another need? 

• The need for a convienient way to test one's blood alcohol content through the use of a battery powered breathalyzer differs from other needs because it is not necessarily a necessity. Although this device is useful, it is something that individuals could live without.

Why: Is the underlying cause of the outsiders' need different than people who are inside the boundary? 

• Outsiders fall outside the boundary of this need for many reasons; individuals who do not drink would not find use in this product, individuals who prefer not to drive at all for various reasons would not find use in this product, individuals who are not responsible when it comes to making good decisions would also not find use in this product. Reasons that individuals fall outside the boundary of this need are numerous. 

Inside the Boundary                                      Outside the Boundary

Who is in:                                                            Who is not: 

-Responsible individuals                                      -People who walk to bars or use Uber/Lyft                

-Those who engage in drinking                            -Nondrinkers 

-Those who drive to their drinking                       -People who are not responsible 

 locations                                                                    -People who only buy necessities 

-Those who have extra money

 to spend on something that is not

 a necessity                                                      

What the need is:                                                What the need is not: 

-Battery powered breathalyzer                             -A solution to finding a safe way home

 that connects to keychain                                            

Why the need exists:                                          Alternative explanations: 

-There is no convenient way                                -There is no way for individuals to test their 

 of testing blood alcohol content                          blood alcohol content in general, whether for 

 before driving                                                      driving purpose or to simply know when it is 

                                                                             time to stop drinking 

Solving the Problem

Opportunity: Individuals often have to rely on judgment before driving after they have consumed alcohol because they do not have a convenient way of testing their blood alcohol level.

Product: Because of this unmeet need, I believe there is opportunity in creating battery powered breathalyzers that can connect to an individual's car keys. As many are able to observe, pepper spray that attaches to one's car keys has become a kind of staple item, especially for women. I believe that a breathalyzer that is convenient in this way could and should also become staple to a set of car keys. I have seen breathalyzers that plug into smart phones in order to be powered and show results, and although this is high-tech, it is not convenient and would be relatively easy to forget at home or misplace. I believe working to create the most compact and efficient (battery-wise) breathalyzer would prove to be profitable in more ways than one. Not only could it create a financial profit, but it would also be beneficial to the safety of our society.

Testing the Hypothesis, Part 1

Opportunity: Individuals do not have a convienient way of testing their blood alcohol level before getting behind the wheel, oftentimes resulting in a DUI. Because of this unmet need, I believe there is an opportunity in creating battery powered breathalyzers that connect to one's car keys.

The who: Individuals over the age of 21 who drive vehicles
The what: They are unable to conveniently test their blood alcohol levels before driving
The why: Battery powered portable breathalyzers are not readily available to them

Interview #1: Mother
To start the interview, I asked my mother if she performs a sobriety test of any sort before driving after she has consumed alcohol, when she said no I asked why and she responded, "I have no way to other than using my best judgement." Upon explaining the opportunity I have discovered in making portable breathalyzers that connect to a set of car keys, I asked my mom a series of open-ended questions. Pertaining to who would need a tool as such, she said that anyone who is of drinking age could benefit from purchasing one, she did also include the fact that people who don't engage in drinking would be highly unlikely to purchase one.

Interview #2: Friend, age 21
Surprisingly, I discovered that my friend has a breathalyzer that plugs into her phone that she uses after going out to dinners or social gatherings. She said that it is a good idea however oftentimes doesn't work correctly, she also said that oftentimes after a night out her phone is dead and she has no way to see the results. When asking my friend about the prototypical customer she made the point that people would probably only buy it if they were of the responsible type, and even if they purchased it, they might ignore the it's determination.

Interview #3: Coworker
My coworker believed that this creation could be marketed to drivers of the legal drinking age but could also be useful in other ways as well. She pointed out that individuals could use it to simply decide when to stop drinking when they are out, regardless of if they are getting behind a wheel. She explained that she has witnessed multiple of her friends be taken to the hospital because of alcohol poisoning and a portable breathalyzer could be a helpful preventative tool for similar situations.

Interview #4: Father
My dad doesn't drink so he helped highlight the fact that this product may not be useful to all adults at or over the age of 21, he said that the type of customers that would likely purchase it would be casual, social drinkers who keep responsibility in mind when driving home. He pointed out that individuals who typically drink heavily would most likely not purchase one because they can clearly identify when they are too intoxicated to get behind the wheel.

Interview #5: Sorority house mom
I asked my sorority mom if she would get use out of a portable breathalyzer that attaches to her keychain, she explained that she would because she oftentimes goes downtown to have dinner and wine with her friends and would like to know what her blood alcohol content is without having to guess based off of "feeling." When I asked who else would benefit from it expressed that she would hope that college students would purchase it in efforts to be safe and responsible, she included the idea that in Gainesville, students might not see the need for it because of Uber availability and the fact that most residences are within walking distance from the bars so people rarely bring their vehicles out.

The interviews above summarize the key points that I took away from each conversation. After the interviews, I still believe that an opportunity exists because I haven't seen anything of the sort marketed and it is a great way to spread awareness and support safety in multiple ways. While testing the boundaries of the need, I found that the breathalyzer could be used in contexts other than driving, for example: simply determining when it is no longer safe to consume any more alcohol. When testing my theory of prototypical customers I found that my window would be narrowed due to a variety of factors such as: whether people engage in drinking or not, whether individuals are responsible or not, and whether people typically take their vehicles to where they engage in drinking or not.

Identifying Opportunities in Economic and Regulatory Trends

Economic Opportunities 

Opportunity #1: Oil prices have hit a 30-month high as of January, high oil prices are resulting in consumers spending more money at the gas pump. Heightened gas prices are making consumers look for alternatives, this could prove to be highly beneficial for automobile industries that are moving towards more efficient cars such as electrically charged vehicles. 

a. I discovered an opportunity based off of increased gasoline prices by google searching "current economic trends" and found the information I used to come to my opportunity conclusion at https://www.thebalance.com/why-are-gas-prices-so-high-3305653 

b. The information I read concerning fuel prices being at a high for such an extended period of time suggests that an opportunity exists for long-term solutions to this issue. Rather than waiting for gas prices to fall again, consumers might be looking for a solution that ensures they will never face the repercussions of expensive fuel again, such as investing in electrical vehicles. 

c. Prototypical customers would be those who own vehicles and are being financially inconvenienced by seasonal increases in gasoline prices.

d. I think the opportunity to fulfill customers' needs for more economic transportation would be relatively easy to exploit since many are already expecting a shift to electronic vehicles in the future.   

e. Why did I see this opportunity? I saw an opportunity based off of the increasing gasoline prices because I am a futuristic thinker, I also search for permanent solutions to problems that arise periodically. I also saw this opportunity because I have an innate desire to protect our environment, and have been hoping for a switch to electrical vehicles for quite some time now. 

Opportunity #2: Natural disasters throughout the United States have proved to be detrimental to not only the physical environment but also economical. Rebuilding communities is a major time and financial burden and should be done with consideration to threats of natural disasters in the future.

a. I have discovered an opportunity based off of the economic burden of having to recover after natural disasters. Because individuals and organizations are having to rebuild after being impacted by the environment, there is an opportunity in the housing market to build and promote their properties as safe/resistant to natural disasters.

b. I discovered this opportunity upon reading news articles for our last assignment about the continuing recovery from hurricane Irma, I then looked further into the economic burden of recovery at http://www.fireengineering.com/articles/print/volume-169/issue-9/features/the-economics-of-natural-disasters-mitigating-the-impact.html

c. Prototypical customers would be those who have been affected by a natural disaster and are currently rebuilding, or individuals that are looking for homes with the future in mind in terms of the safety of themselves and their homes. 

d. I think the opportunity to fulfill customer need for safety would be a little difficult to exploit because some individuals may believe that standard ways of building fulfill enough safety measures and may not see the need for additional safety measures for an increased cost. 

e. Why did I see this opportunity? Like mentioned earlier, I like to look for permanent solutions, I also believe in continual improvement in the way we do things. I think that as we rebuild communities we should learn from our past mistakes and always seek improvement in order to avoid reliving the same problem again because of stagnancy. 

Regulatory Opportunities 

Opportunity #3: Recently, the Supreme Court has cleared the way for state regulation of gambling on sporting events. Because of this regulatory change, there is opportunity for entrepreneurs in coordination of sports betting. 

a. I have discovered an opportunity based off of the Supreme Court's ruling that states may now regulate sports betting. Because this was previously not allowed, companies or places that promote sports gambling are underrepresented, this leaves a window of opportunity in this realm. 

b. I discovered this opportunity while researching for the last assignment, I then looked further into the Supreme Court's ruling at https://www.cnn.com/2018/05/14/politics/sports-betting-ncaa-supreme-court/index.html

c. Prototypical customers would be people who have a love for sports and are confident in their ability to predict outcomes, or gamblers looking for a new venture. 

d. I think the opportunity to fulfill customer need for an organized way to engage in sports gambling would be rather easy to exploit, this is because many partake in gambling and with this regulatory change, those individuals will be readily willing to partake in a different form. 

e. Why did I see this opportunity? I think I saw this opportunity based off of the Supreme Court ruling because I watched the movie "focus," I remember the scene where they were betting large amounts of money at a football game (illegal) and began pondering how this could be organized in a legal way. 

Opportunity #4: With recent occurrences of large fatalities due to guns, there is potential for regulatory changes in gun laws to occur in the near future.

a. I have discovered an opportunity based off of the social demand for gun regulation following the recent school shooting occurrences. Individuals are pushing for the ban on semi-automatic weapons and assault styled weapons. With any regulatory change in gun laws, there will have to be a reaction from gun companies in what they are selling and promoting. 

b. I discovered this opportunity after pondering current movements in society and researching potential regulatory changes as a result, I found the information for this opportunity at https://www.theguardian.com/us-news/2018/feb/27/gun-control-proposals-florida-school-shooting

c. Prototypical customers would be people who are interested in purchasing a gun for self defense. With changing gun laws, the guns these consumers are allowed to purchase would be different and gun companies would have to adjust to any regulation. 

d. If gun laws are regulated, customers will have no option but to buy what is designated as legal, therefore, I think that the opportunity to create and sell guns that are not automatic assault styled would be easy to exploit. 

e. Why did I see this opportunity? Lately social media has been storming with angry individuals who are demanding gun regulation because of recent events. In trying to think proactively, I believe that gun laws will eventually be changed in order to support public safety, therefore this lead me to believe that there will be some sort of opportunity based off of the new regulations.