12A - Figuring out Buyer Behavior No. 1

12A - Figuring out Buyer Behavior No. 1

Choosing a segment: 

For this assignment, I decided to go with the segment of entrepreneurial minds. The interviews I conducted were with individuals who have either opened their own business or strongly considered opening up their own business. Interview number one was with Joe, a General Business major from New York who is near graduation and in the final stages of planning his business that will open up at the beginning of next year. Interview number two was with an establish business man named George, he is in his late twenties and has owned/operated three different businesses throughout his professional career thus far. Interview number three was with an entrepreneur named Zack, he opened up his own business right after graduation high school and is now making a six figure salary that many people older than him are striving for. They all believe that the market is at a good point and that the needed is there so they are fully supportive of me and the aspirations I have for this company.

What I learned:

I learned that the demand for a product like mine is actually quite high. They think that I am on the right track with the planning that I have done so far, but George did mention to me one thing that stood out. As a parent of a young teenage boy himself he said that he would want this technology for his son. He believed that it would be a great idea to pitch to parents that are dying to keep their kids safe in the car. He said "I try to ingrain into my sons head that using his phone while driving is dangerous I don't know if he gets it, but if I were to download your technology to his phone then I could go to bed at night knowing that my son is being safe behind the wheel."

This comment made me think a little bit more and I could really see where he was coming from. Going forward I would like to target parents of teenagers that drive as well. I think that this could be a big opportunity to exploit.

How would I describe this segment:

I believe that so many people across America have thought and dreamed about owning their own business, being their own boss, and perusing their dreams no matter what field of business it may be in.This segment of people have the desire to go after what they want in life and are very encouraging to those who want to do the same, as long as they go about it in a smart manner. They tend to be very insightful and helpful to people who want to learn about the process entrepreneurship.