Segment: College students
that go to on-campus classes, but live off-campus nearby.
Alternative evaluation: Price is on the forefront of the
alternative evaluation for college students. However, it seems that some are
more willing to pay more upfront for a better quality product that would last
longer rather than purchasing cheaper-made products and replacing them often. Some
look at money-back guarantees/warranties. They are more aware of the different
aspects of the products they purchase and they are more resourceful in finding
multiple uses for a product (e.g. pull-up bar that flips over for deeper-range pushups)
rather than having something that does one thing really well. For those who
keep items in sight, they prefer certain styles to match other things in their
apartment or dorm but it is less of an importance.
How/where do they buy: Some college students purchase online,
especially through Amazon because of the student rate for Amazon Prime. Many
look at customers reviews from Amazon, but may also research the product outside
of Amazon’s product listing. Some shop in big-box stores where fitness products
are available and take a look out of curiosity; however, there is a hesitation
to purchase from certain stores because of perceived lower-quality in their
products. For fitness products, they pay upfront, no financing.
Post-purchase evaluation: They’d check the build quality and
the ease of use of the product. They’d also see if they were able to do the
intended exercises with the product. After a period of time of using the fitness
product, they’d also evaluate whether they believe there was a sufficient amount
of progress in their fitness level due to the product.
Conclusion: This segment is mainly focused on price without
compromising quality. This segment seems to primarily purchase online or in big-box
stores. Post-evaluation focuses on build quality, ability to use product, and
attributed fitness progress from product.
Angel,
ReplyDeleteI think your findings are correct, especially that college students tend to spend the majority of their money in big-box stores or online purchases. If you look at Gainesville, it is mostly big-box stores and Amazon deliveries. I also think your finding that price is a big consideration for college students. We don't have a lot of money, so we have to spend it wisely (or so you would think).
Hey Angel, I think you found some valuable information about your intended customer base. In one of my interviews, I too found out that customers believe if it’s a high quality product, then it’s worth the paying price. Selling your product on Amazon would be a huge benefit due to the popularity of e-commerce, as well as the ability to leave reviews. As a student, I’m always looking over the reviews of products before purchasing. Also, offering your product in specific sporting or athletic stores instead of a big-box store would be beneficial.
ReplyDeleteHi Angel,
ReplyDeleteThe information that you gathered here seems like it will be very useful for you. It's definitely important to know where your intended market purchases their products and how they analyze their purchases afterwards. You can use that information to help refine your product in order to further satisfy your customers. For example, since you now know how much they value build quality, you can make sure that your build quality is top of the line.
Hello Angel, the segment that you chose seen to have a clear understanding of the product they want and their expectations. I believe that the biggest challenge you might encounter is how you are going to make your product available at the right Price, because most college students are used to getting most things delivered and for free.
ReplyDelete