15A: Figuring Out Buyer Behavior 2



Marcus Manzoni


15A: Figuring Out Buyer Behavior 2


From conducting interviews with three random people who fit in my product’s (razor blade sharpener) market segment, I was able to better understand how the aspects surrounding my product such as location, price, design and quality affect the consumer’s willingness to purchase my product.


In the alternative evaluation I found that all three of my interviewees said that having a high quality product mattered the most. If the product did not do a good job at sharpening the blades, then there was really no reason to have the product when they could just go and buy another razor. The price was interesting because the interviewees all had differing opinions. One person said they would only buy the product if it was cheap because the reason why they don’t buy the new, best razors is because they want to save money. If this were too expensive, it wouldn’t even be worth it for them. The second person said that as long as the product was good quality and did a good job, they would pay up to $50 for it. The last person said that he wasn’t sure what he’d be willing to pay, but if it could make his razor last forever then he would pay over $100 because he would never have to buy a razor again and that would save him a lot more than $100 over his lifetime. I would hope that this is a great quality product that could extend a razor’s lifespan for a long time, but I don’t anticipate making razors last forever because eventually the blades will have been sharpened so many times that they would not even reach the skin. As for style, two people said it didn’t matter, but the third person mentioned that they would be more willing to buy this product if they could bring it with them when they travel because they travel a lot for work and they need to shave on the road often.


When asked how/where they would purchase the product, all three interviewees said they would prefer it be both online and in store, so they could check it out in person, but have options to buy it online as well. One person mentioned that if the product was sold online through Amazon, they would be able to look at reviews which they normally view before making a purchase, especially for an expensive/valuable item.


To determine if they made the right choice in purchasing the product depends on how well the product performs and how long it performs well for. One interviewee mentioned that if the sharpener does its job, then that’s a plus, but if it only does a good job for a short period of time, then it’s no better of a solution than just having to buy another razor. The other two interviewees just said that if the product works and ‘they get what they paid for’ then that was good enough with them. This essentially means, if the product cost a lot it should be high quality, if its cheap then they don’t expect much.


In conclusion, this market is essentially looking for value and convenience in this product because that is it’s entire purpose, to replace unreliable, inconvenient razor blades. The price of the product will have to depend on how long it functions, how well it sharpens the blades/extends their lifespan (quality) and whether or not it can be stored easily for travel (design). My segment seems to not care much as too whether it’s online or in person, but they prefer it to be both so they can see reviews and inspect it in person before purchasing.

Comments

  1. Alexsa Van HornMarch 15, 2020 at 11:01 PM

    Hello Marcus,
    I think these interviews gave you a lot of insight about your potential client base. Like most products, people only are willing to pay as much as the product is worth. Depending on who you would target as your main target base, you would have to decide how high end of a product you’d make. For example, for college kids, it would be better to have a cheap product that still did the job.

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  2. Janine SantiagoMarch 16, 2020 at 12:19 PM

    Hi Marcus, great post! I think your interviews pointed out some very interesting insights for you to consider when developing your product. Your product would definitely have to be high quality, but I think determining a price would require more research. More potential customer interviews could help you decide how much customers would be willing to pay for this product.

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