Figuring Out Buyer Behavior No. 2

Segment Interviews: Demographic of College Students

1.     This first interview consisted of a college student here at the University of Florida who is a freshman. From the introduction of my product this person had expressed interest in the product since they are very health conscious. However, when I brought up the alternative evaluation price was a major factor because they do not have a stable income or barely an income from scholarships. Another aspect that was important was the style or aesthetic of the bottle in which it comes in but as long as it gives this person energy they would not care about the quality. Price was by far the biggest factor for this individual in the segment because they usually buy in store with a credit card. For the rightness of the purchase, it is important to get the most utility out of the product with the cheapest price. The purchase would be bad if it has no effect on the purchaser.  

2.     The second interview was with a junior college student. When first introduced to my product they had a humble interest in it, however it was obvious that they would prefer what they are used to already such as coffee or energy drinks. This person said that price would be the main factor that would change their mind and would use credit card to pay for the product. Quality and taste were definitely up there in terms of how desirable the product is for the purchaser on top of where it is available. This person would prefer it to be at Walmart for convenience and cheap pricing making it a good idea. But a bad idea being at a more expensive store or not having a great quality or taste.

3.     The final interview was with a senior college student. The interview had to do with whether or not my product was priced correctly, had a great appearance, and taste compared to other competitors. This person had a great interest in my product as they are aware of the difficulties of caffeine addiction. They believed that the pricing would be right and it was not a big factor since they believe even a pricier product is better for your health. Yet the quality of the product was the biggest factor for this person because if the price is high they expect the quality to be even better. For them, they would either pay in cash or credit card since no preference exists. The best quality for a great price is what makes it a good idea and right. It would be a bad buy if it was low quality and highly priced even if was priced low would not justify poor quality in their opinion.

Conclusion:

I believe, from the interviews, that this segment is highly attractive for alternative evaluation, purchase decision and post purchase evaluation if the product meets the standards it is placed at the quality is on par with or better than the competitions quality, taste, and price. In terms of alternative evaluation pricing seemed to be a concurrent issue and quality in some instances was around second during the interviews. For purchase decision everyone would like them to be in stores even though some would not mind if it was available in stores. Finally, for post-purchase evaluation was important and doable if the product lived up to the expectations of the consumer.