Assignment 15A - Figuring Out Buyer Behaviour No. 2
Interview Result
Alternative Evaluation
I asked the people I interviewed to rank the alternative factors they considered when they are trying to use a traveling service to help them plan their personal or group trip to somewhere far, like Bali. The alternative factors are the following:
1. Price
2. Quality
3. Trust and Credibility
The result shows that Trust and Credibility come first, followed by Quality and lastly Price.
The fact that they chose Trust and Credibility shows that they need an assurance that whatever the company is offering will be done as promised. This means that to gain the customer in the segment, the company has to set up a direct face to face environment to make the potential customer felt trustworthy and promote the service based on customer review, potentially from someone that is respected like Instagram influencers. By promoting it this way it would also give a Quality appeal.
Moreover, the fact Price factor comes at the end shows many things. It could show that the trip will be paid not by the individuals interviewed, but by their parents so that they are not worried about the price of the service. From this, it shows that the company couldn't promote the service through price competition because the potential customer in the segment doesn't but price as it first alternative factor. In fact, promoting using lower price advertisement could potentially push them away.
Purchase Decision
In addition, the potential customers in the segment that were interviewed wanted to travel with their group of friends, which means that their friends are involved in the purchase decision. This could be hard, but at the same time easy because once you influence the individual in the group that is most dominant, you will get the whole group to join.
Post-Purchase Evaluation
The fact that the potential customers that were interviewed selected Quality as its second factor, above Price, and that their purchase decision is to impacted by their friends means that what they feel, their peers, their friends and their parents contributed to the overall satisfaction of the purchase. Although they may personally feel satisfied if one of their peers said that "I went to the Maldives and it was better", or their parents said "It is not worth it", it will definitely make them feel dissatisfied at the end. To solve this problem the company need to make the intangibles tangible through amazing pictures or video of them that enable them to show off to others.
Conclusion
In conclusion, from talking to the 3 potential customers in the segment, it was found that they value the sense of prestigiousness, exclusivity and personal service instead of price, which was shocking. Moreover, the opinion of others plays a significant role in their overall satisfaction of the service.
Alternative Evaluation
I asked the people I interviewed to rank the alternative factors they considered when they are trying to use a traveling service to help them plan their personal or group trip to somewhere far, like Bali. The alternative factors are the following:
1. Price
2. Quality
3. Trust and Credibility
The result shows that Trust and Credibility come first, followed by Quality and lastly Price.
The fact that they chose Trust and Credibility shows that they need an assurance that whatever the company is offering will be done as promised. This means that to gain the customer in the segment, the company has to set up a direct face to face environment to make the potential customer felt trustworthy and promote the service based on customer review, potentially from someone that is respected like Instagram influencers. By promoting it this way it would also give a Quality appeal.
Moreover, the fact Price factor comes at the end shows many things. It could show that the trip will be paid not by the individuals interviewed, but by their parents so that they are not worried about the price of the service. From this, it shows that the company couldn't promote the service through price competition because the potential customer in the segment doesn't but price as it first alternative factor. In fact, promoting using lower price advertisement could potentially push them away.
Purchase Decision
In addition, the potential customers in the segment that were interviewed wanted to travel with their group of friends, which means that their friends are involved in the purchase decision. This could be hard, but at the same time easy because once you influence the individual in the group that is most dominant, you will get the whole group to join.
Post-Purchase Evaluation
The fact that the potential customers that were interviewed selected Quality as its second factor, above Price, and that their purchase decision is to impacted by their friends means that what they feel, their peers, their friends and their parents contributed to the overall satisfaction of the purchase. Although they may personally feel satisfied if one of their peers said that "I went to the Maldives and it was better", or their parents said "It is not worth it", it will definitely make them feel dissatisfied at the end. To solve this problem the company need to make the intangibles tangible through amazing pictures or video of them that enable them to show off to others.
Conclusion
In conclusion, from talking to the 3 potential customers in the segment, it was found that they value the sense of prestigiousness, exclusivity and personal service instead of price, which was shocking. Moreover, the opinion of others plays a significant role in their overall satisfaction of the service.
I think that the segment that you chose to interview was very clear and quite reflective of who you are trying to sell to. For me, the most difficult part of this assignment was coming up with a segment to interview. I wanted to pick a segment that would truly help me refine my idea and tailor it more towards a typical buyer’s needs. I think that you really encapsulated this idea well throughout your interviews.
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