Wednesday, June 19, 2019

Figuring Out Buyer Behavior No. 2

Segment: 
I chose a segment of established business leaders. All three of my interviews were with people who own a business.

Alternative evaluation
From the interviews, I learned that people who own companies are very picky with what they sell. The boutique owner I interviewed said she would need to see a really good leather alternative before considering switching over and that the price would be a huge factor. She and the other business owners I interviewed all said they have guidelines they follow when selecting items to sell since it is a portrayal of their business. From these interviews, I learned that price and quality are the main factors.  

How/where do they buy?
I learned that business owners are more likely to select the products they want online or if they see something in a store they really connect with, but mostly they do all their picking online.  

Post-purchase:
What seems to matter most about the business owners when selecting items to sell is price, quality, and making sure the product will be appealing to customers. The main objective for business owners is pleasing their customers to make sure they stay in business. They would be willing to sell a leather alternative if they believe their customers will appreciate and buy it. The quality has to be in line with their standards and the price has to be acceptable. 

Interview:
I talked to the man who owns a small boutique in Fort Lauderdale and asked him what he thought of my product idea and if he would be willing to invest in a leather alternative. I talked with him about the different ways in which leather is bad for our environment and he showed some concern. He said it would be hard for him to switch over completely since his customers come for specific items and he might lose business, but he said he would be willing to incorporate the product into some of his items. The woman who is the manager of a department store said she thought my idea was really interesting but showed the same concern as the man I initially interviewed. Some customers might get upset about a changing product. The owner of the shoe store was very interested in the uniqueness of using fruit as a leather alternative and said she would be interested in using it for her handmade items, but said it might be difficult to sell to big corporations due to the societal norm of leather in products.

Conclusion:
All in all, this segment opened my eyes to different features and possibilities of the product. Over anything else, the faux leather needs to be perfect in order for people to consider it. I should go to a place that already sells a leather alternative and considers what can be improved on in terms of material, texture, and the product. If I have a product to compare to and improve on, it would make the product better.

5 comments:

  1. Hey Lauren,
    You did a really good job of finding people to interview who fit your segment and can give you helpful information. It is not surprising to me that they were hesitant when considering switching to a leather alternative because it is a big change. It is optimistic for your product that they considered incorporating leather alternatives into their business. Great job!

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  2. Hey Lauren, I glad you got the opportunity to speak to business leaders to talk about your potential business idea. I’m sure you learned from speaking to them about what they are asking for from your product. The need for an online market might be difficult because you would need some infrastructure online. I would be very excited to see the leather substitute in person.

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  3. Lauren,
    People who own companies are very picky! I bet business owners have a lot of people coming in to try to get the owners to start selling whatever product that person has to offer. As long as the owners see a need in your product and feel that your product would sell in their store, you should be good to go!

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  4. Hey Lauren! You had a great post and I liked how you made it out to locals in your area about there behavior about your product. Leather is a hot product and hearing their view point on alternative leather gives you some insight on if it is a good plan or not. I do agree if you want to make this a selling product it has to be a good one.

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  5. Hey there Lauren, great post! I thought you did an excellent job detailing your interviews with individuals from your targeted segment. By doing so, you will undoubtedly have an advantage later on when further developing your idea and business model. Keep up the great work, getting research beforehand will really ensure that you present the best product possible!

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