Figuring out buyer behavior - 15A
Alternative Evaluation: Based on the interviews I conducted, I found that all three of my interviewees stated that price was the largest factor when it came to buying something, however quality was seen as very important as well. Two of the three interviewees stated that they would pay a higher price for a better quality product that would last longer. The style was the next most important thing in all of the interviews, after quality.
How/where do they buy? Based on the interviews, buying in person appeared to be more popular than buying through e-commerce because of wanting things instantly. If the product is available in store, then the consumers are more likely to buy in store than online. Whether or not the financing was preferred over buying something outright was largely dependent on the person's financial status. One of the interviewees stated if they had the money, then purchasing it outright was preferred.
Post-purchase evaluation: Necessity and how much the product was used were both the largest factors that determined how my interviewees felt after buying a product. If the person didn't actually need the product or they found that they bought it in a state of emotion, then they typically regretted the purchase. If the person actually needed the product and used the product frequently, then the purchase was a good decision.
Report the findings: The interviews came out as expected: All three people based their purchases mostly by the price and quality of the product, and financial health was a big determining factor when it came to buying a product outright or financing it.
Draw conclusions: I would say that most people are similar when it comes to motivating factors when purchasing a product or service. Price, quality, and need are the biggest determining factors among most people
How/where do they buy? Based on the interviews, buying in person appeared to be more popular than buying through e-commerce because of wanting things instantly. If the product is available in store, then the consumers are more likely to buy in store than online. Whether or not the financing was preferred over buying something outright was largely dependent on the person's financial status. One of the interviewees stated if they had the money, then purchasing it outright was preferred.
Post-purchase evaluation: Necessity and how much the product was used were both the largest factors that determined how my interviewees felt after buying a product. If the person didn't actually need the product or they found that they bought it in a state of emotion, then they typically regretted the purchase. If the person actually needed the product and used the product frequently, then the purchase was a good decision.
Report the findings: The interviews came out as expected: All three people based their purchases mostly by the price and quality of the product, and financial health was a big determining factor when it came to buying a product outright or financing it.
Draw conclusions: I would say that most people are similar when it comes to motivating factors when purchasing a product or service. Price, quality, and need are the biggest determining factors among most people
Hey Jason, I do not think that you have to worry to much about buyers remorse as it relates to your product since you stated that they prefer in-person purchases. I say this because e-commerce transactions are more instance, notice I said transaction and not product reception. If someone drives to your store, then they will have plenty of time to decide if they truly want your product.
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