15A Figuring out Buyer Behavior !

Buying pre/post factors!

3.

Customers often choose the cheaper products when it comes to brands because they don’t want to spend much on an item such as an adapter. People tend to buy the product that isn’t the cheapest one but isn’t the most expensive either. There’s an in between where the product is not expensive but isn’t horrible quality. The longer the item lasts and the cheaper it is, people are more inclined to buy it. One more factor that is important is accessibility. People will more the product more if I sell it online rather than in stores.

4.        

My product is most likely to be bought through online stores like amazon where it is more accessible to the public and will be delivered right to their homes without having to go and drive to the store to buy it. They will most likely use cash to purchase this device just because it is not expensive and people tend to not use their credit card on minimal priced items. My product will not be a business to business product because it will only be managed by my company and will be priced how the company deems fit.

5.        

My customers will determine if the product was worth it by evaluating how long it lasts. This is an icebreaker for most customers because they don’t want to constantly be buying the same product over and over again because they will be losing money. The way they determine if the product was a bad idea would include if the product didn’t work when they purchased it, or if it was costly but broke fast.

6.       I conducted three interviews which included people I found on campus at the University of Florida.

In the first interview I conducted, I found out that a 20 year old student from UF was on a budget so she mentioned that she would put cost over quality of the item. This was surprising to hear but she states that she rather buy a cheap adapter that might last long than to buy a costlier one not knowing if it’s going to last long as well. She said that she would pay the item cash because she’s looking to buy a cheap one.

In my second interview, I asked a professor at the University of Florida if they would put cost over quality like the previous interview. He stated that no because then he would have to keep buying adapters. Since they’re cheaply made, he wouldn’t want to buy the cheaper ones because they always end up having problems. He mentioned that he would buy the more expensive one with a return policy for about a month minimum. I found this interesting because this was not something that came to my mind instantly. He also mentioned that he would buy this product with a card because it would be costly and does not want to be without cash.

In my third interview, I interviewed an athlete at the University of Florida about what adapter they would prefer. She stated that she would settle for the middle adapter which would not have a return policy (or maybe less than a month) rather than buy one with none and have to buy a new one. She also stated that she would settle for an in the middle type adapter because of the price. She does not want to buy the cheapest one but also does not want to invest that much money into an adapter.

7.       To conclude, I believe that the most important factor for people when purchasing an item is the price. They use cash the most in order to avoid spending little money on their card statement and use the question of quality as an important factor in their post-purchase evaluation.