The segment that I am choosing to focus on in my ventures market is the college students as I believe that they may make up the most of my market and are the easiest to receive feedback from at this point. More specifically those who spend late nights studying on a regular or semi regular basis.
The three people I have chosen to interview are self evaluated as late night study students from three different colleges. The college of Law, Advertising, and Telecommunications.
What I learned from the interviews was that they all as students value their time and when it is late most crave some source of caffeine. However when being sold on a new product the easiest way to ensure their loyalty to a brand is simply to offer them something no one else has. If their needs are being met they seek three things from the provider (company). They are price first and foremost for two of the three, where as the third asked for environmental footprint. They second was what all three choose with convenience being agreed by all of the subjects. The final most important thing was brand recognition/trust that two of the three subjects claimed was important, where as the final subject had satisfaction (taste) being a key feature.
So in closing if I wish to succeed in this market I need to position myself as a cheap, quick, reliable, and tasty brand, with the possibility of green marketing playing a role as well.
Hi connor,
ReplyDeleteI like that you interviewed three students who were apart of different colleges here at UF. Usually students from different colleges have different schedules and times that they find convenient to study, and hence drink their coffee while they try to stay awake doing their homework of studying for an exam. I agree that students value their time when studying late, and that most students want to spend a fortune on a coffee at traditional coffee places like starbucks. I know for sure that I would utilize your idea if you were to make it into a reality.
Connor,
ReplyDeleteI really like your post. My favorite part is how you interviewed students in three different schools. That helps to show how different students view and could use this product. As a student who studies a lot, I do need a source of caffeine while studying at a late time. Most students need to find a different source because many stay up too late if they drink coffee. Good job!
Connor,
ReplyDeleteI think that you chose a perfect segment for your product. College students definitely need quick and easy access to coffee. I for one use coffee all the time at the library so I understand the need for it. I also liked how you interviewed students from three different colleges in order to get a wider response to your questions. Overall you did a great job!