15A – Figuring Out Buyer Behavior No. 2
Interviewee #1 Paul (never a subscription box subscriber)
Paul stated that if he was going to compare my subscription box to others, he would be looking at both the price and quality. Price would be the biggest factor and Paul stated that he would tend to go with the cheapest option. Once he receives the box, he would judge the purchase based on the contents that he received. Is he actually going to use these items or are there some he doesn’t particularly care for? If he has items he doesn’t like, then his purchase would be deemed as a bad idea.
Interviewee #2 Zachary (current subscription box subscriber)
Zachary always uses social media influencers and advertisements when he is comparing boxes. He states that if he sees multiple social media influencers that he follows on social media then he is more likely to want that box over another box. He also mentioned that advertising, and the more familiar he becomes with a subscription box the more likely he is to purchase it. He states that “style” of the box would most likely be his biggest influence when comparing alternatives. If he actually utilizes the box it is a good purchase, if he doesn’t then it’s a bad purchase.
Interviewee #3 Alex (former subscription box subscriber)
Alex stated that her deciding factor would be price and brand names. When comparing alternatives and options she will go with the cheapest price that has familiar brands that she likes. “Price and quality” are her biggest deciding factors when comparing alternatives. Like the other interviewees Alex stated that it is deemed a good purchase when she gets products she likes and uses versus a bad purchase when she gets items she doesn’t want or use.
Conclusion:
My interviews were a little simpler because I didn’t need to ask them how/where do they buy because all subscription boxes are bought solely online with either a debit/credit card or PayPal. There is no subscription box store you can purchase from. Just as I had expected, all of my interviews had the same response when it came to post-purchase evaluation. They all stated that it’s a good purchase if they actually get items the want and use, verses a bad purchase. My subscription box solves that issue because consumers get to hand pick their items, therefore always making their purchase a good one. I did realize a key aspect that Zachary had brought up: social media influencers. I think social media is a huge marketing tool and I would definitely want to get some influencers on board with promoting my product. I learned from my interviews that people are usually going to care the most about quality and price. They want cheap, but good quality. That is a tough one to conquer because usually when you have a good price you need to sacrifice quality. I may struggle with keeping my box low in price.
I think you did a great job surveying your target market to find out how to adequately price your boxes. You made good use of the information you received and it seems that your on the right track with moving forward. Adding an influencer to your product would definitely drawn in a more defined crowd.
ReplyDeleteHi Kaylee,
ReplyDeleteIt was interesting to read what your friends' feedback was, and after all of your interviews and research, I'm looking forward to seeing the idea develop in the future. I have a bunch of subscriptions in Amazon, so I don't have to remember or waste time on buying the same items I will need over and over again. I have never had a subscription box, but it seems that getting a surprise box would be the main factor of excitement for the consumer.
Hey Kaylee,
ReplyDeleteI've stated this before in my previous comments on your posts, but I think your idea has great potential. Your product has great marketability and your idea to have social media influencers promote your product is a great one! Most people spend a great deal of time on social media and I think your idea could become quite large on a platform such as Instagram or Facebook.
Hello Kaylee,
ReplyDeleteReally great job on this assignment. You once again did a good job at identifying intereesting and thought provoking ideas that highlight the true essence of being an entrepreneur. I think you work is really well written and your ideas are really well thought out. I like how your blog looks as well and I think it adds a lot to the overall impact of your work so good job on that as well. Once again keep up the good work and I look forward to reading and reviewing you posts in the future.