- For this assignment, I interviewed two UF students and a roommate of mine.
- In the interviews, I start off by figuring out their buying behavior. The first thing I ask is how they determine their choice of purchase given different options. I got a variety of answers from this question. In general, their decision is based on the type of product they buy and how they consider the scale of the purchase. One of the students says that if the product is relatively insignificant, then he would just buy the cheapest option there is. The example he gave was purchasing things like napkins or paper towels. A common answer I found is as the scale of a purchase rises, their willingness to pay more for quality increases. Products and services such as cellphones or tutoring are goods that they would consider paying extra.
- All of my interviewees shop both in-store or online depending on their circumstances. They usually buy atypical goods online or when they feel that they cannot find the item in-store. One thing I shared with my interviewees is that there are significantly more options to choose from when shopping online due to the number of sellers. Unlike online, in-stores only offer options that they currently have in their inventory. This can make online shopping much longer than one thought it would be.
- Concerning post-purchase evaluations, my interviewees are more likely to have this process as their purchases are more important to them. One of the main things they think about is the "bang for the buck". Essentially, they want to ponder whether they truly paid for the value they received. However, they also take into consideration of convenience and other service-related additions when they make these evaluations.
- Overall, I learned that consumers' decisions on choosing a specific option over alternatives may depend on the type of product. The type of product as well as their preferences both influence how they choose cheaper or more expensive alternatives. Additionally, online shopping tends to provide more options than going in-store.
Monday, October 14, 2019
15A – Figuring Out Buyer Behavior No. 2
Subscribe to:
Post Comments (Atom)
Dear Tommy, I think you're going in the right direction with the first question you asked. Asking how consumers choose between different options is often the best way to find out how to make yours unique. I found your finding that people are willing to pay more relative to other similar product as the quality increases to be accurate. Your bang for your buck point stuck with me because it is something I know I do frequently.
ReplyDeleteHello, Tommy! You really hit on a lot of important and noteworthy points that many buyers, including myself, tend to agree with. Insignificant purchases, like you said, can be easily substituted with the cheapest option, and while online shopping is convenient, the many options and different sizing guides can greatly vary the customers buying experience and post-purchase decisions.
ReplyDelete