Thursday, October 18, 2018

15A Figuring Out Buyer Behavior No. 2

When conducting the newest set of interviews, I chose to go with another 3 people that live in areas that could be easily affected by natural disasters. Out of the 3 new people I chose to interview, 1 was from Panama City Beach, another was from Destin, and the last interviewee was from Santa Rosa Beach. These areas were all either affected, or nearly affected by the most recent hurricane, so I figured that as long as the event was not too dramatic to talk about, that I could receive some very accurate data.
Alternate Evaluation: When talking to each of the interviewees, I first asked where each person gets their information on products they intend to purchase, especially products that are designed to support important needs, such as keeping your city and home safe. Each interviewee said that they got a majority, if not all, of their information from the internet. They simply google products that they think could help serve their needs. I then asked them that when it comes to protecting their homes and towns from natural disaster, what would be the most important quality they would look for in a product or service. They all said, without any doubt, that they measured their choice products and services by quality. When I asked why, they all responded in a similar way, with the gist being that if they were looking for a product or service that would be used to protect their way of life, then they would choose a product or service that would be relied upon.
Where do they buy: When I asked about how each interviewees would pay for this product, each had a relatively different idea of how to make the purchase. Two of the interviewees each agreed that the purchase would likely be expensive or extensive. Because of that, it would likely be easier to finance the purchase. The other interviewee stated that the size of the purchase could affect how he pays for the product or service. Depending on the amount of damage, as well as where the damage took place, whether a small town, or just a house, or a whole city could affect whether it is wiser to pay with cash, or to finance the purchase. Each interviewee also said that they were more likely to purchase a product or service in this capacity online. The reason being is that they would do most of their research online, as well as the fact that there is more products and services to research and choose from online, as opposed to simply being stuck to choose from those in your specific area.
Post Purchase Evaluation: Out of everything the interviewees had to say, I thought the wisest thing was said during the post purchase evaluation questioning. One interviewee stated that the only true way to know whether or not it was a good purchase was to actually test the purchase. If the purchase works to help a home or city against future storms and natural disaster, then it was a good purchase. If the product or service limited the damage of future natural disasters, then it was a good purchase. That being said, if there was the same or more damage after the purchase, then it was not a strong purchase, and the customer would likely do more research and buy a new product.
Conclusion: It is clear that people looking for a product or service that could protect against natural disasters would do an extensive amount of research online before choosing each respective product. It is also clear that the purchase would most likely be financed, as opposed to paid for with cash. They are looking for a quality product or service, and would judge the quality based on how well said product or service held up and protected homes and cities in future natural disasters.

3 comments:

  1. Hey Parker,
    I think a product like this is a 100 percent based on the quality of its product. People would be willing to pay a premium for something like this if it was reliant and able to actually save lives. When it comes to something as important like this, its only a good purchase only if it could potentially save lives or limit damage. Interesting that someone thought about paying in cash, I figured that a product like this would demand credit or a loan in order to properly finance it. Good Job.

    ReplyDelete
  2. Hey Michael, great job on this post. I can really tell you are taking these assignments very seriously and it is evident in the information that you are providing. I think you are really onto something with this idea you are exploring and I am glad to see that you are able to take important things away from these experiences and conversations. I wish you the best of luck going forward, thanks for sharing!

    ReplyDelete
  3. Hey Michael!

    Wow, I can really tell the amount of effort and time you put into this post. I think it was really advantageous to interview people from Panama City, Destin, and Santa Rosa Beach because they are all coastal cities and are often, heavily impacted by natural disasters. I think you got a lot of useful information from these interviews, especially since you understand now that most consumers do an extensive amount of research online, and would more likely be expensive.

    ReplyDelete