12A – Figuring Out Buyer Behavior No. 1

I was able to interview my friends because I believe my friends are the prime candidates for my segment which I have identified as girls who want to spend their money on fashion and jewelry/people who keep up with trends out of the market of college students, primarily (if not all) female. All of the girls I interviewed have either lost their key several times, know people who have, or keep their key on a ponytail on their wrist in order to prevent this happening.  Myself, along with one of my friends who I have interviewed, have lost their key more than 4 times.  To replace a key to your apartment at the apartment complex we live in is $50.  If you lose your key several times, this number adds up!  They all agreed they would rather buy an inexpensive, bracelet of quality to hold their key so they no longer have to use a ponytail and don't have to worry about ever paying these new key fees again.  This need becomes the most salient when they are going out at night, because they are in crowded places where things are easily lost, and people try to bring out minimal belongings in small pockets or purses where the key can easily fall out.  None of the girls I interviewed, including myself, like wearing a key on a ponytail on your wrist when they have a great outfit on because it sort of ruins it.  All of the girls I interviewed did not go to google or a search engine to find a bracelet that holds their key like I did, but they just used a ponytail to temporarily satisfy their need, even though it didn't exactly satisfy their want.  They have not talked to their friends and family in a way that they need a solution to their key on their wrist, but they have talked to their friends and family saying they can't lose it again and pay $50 or more every time.

I learned in the interviews that even though I think this is an unmet need, I think people will buy it more off their "wants" instead.  I think the fashionable and personalization piece will draw people to the product and then they will realize that they do have the need instead of first googling for something to find meet their unmet need.  It's as if they will fully realize how the product fulfills their need when they see it. I think the right marketing could make this product successful and show the unmet need that a lot of people have but do not always think about.

Comments

  1. UnknownOctober 5, 2018 at 10:37 AM

    Sydney,

    Great work on these interviews! They seem to have produced some very helpful results that will allow you to more comprehensively understand the behavior of people who experience this need. Further, the time when the need is most salient will be a critical consideration of this product - after all, you don't need a spare key until you've already locked yourself out! Like you said in the last paragraph, it'll be important to convey that consideration in the marketing of your product.

    Zach

    ReplyDelete
  2. Aubrey HoffmanOctober 7, 2018 at 11:58 AM

    Hi Sydney,

    You got great interviews for this assignment! You were able to find prospective consumers that seemed very interested in your product and who can give you helpful advice to further advance your idea. I agree with what you said in the final paragraph, that it will be more of a want than a need. I believe this because I think people have found other solutions for storing their keys but having a new fashionable way to do it can be something they seek after and then realize the convenience.

    ReplyDelete
  3. UnknownOctober 8, 2018 at 5:47 PM

    Hi Sydney,

    I enjoyed that you got a lot of information out of your interviews. I agree with you about consumers willing to buy what they actually want instead of settling for products that partially solves the problem. I think having potential consumers to interview gives you a good insight on how your buyer behavior will be. Nice post.

    Regards,
    Ramar

    ReplyDelete

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