12A – Figuring Out Buyer Behavior No. 1
1) The segment I believe exists in my venture's market is the coffee segment.
2) Three identified people who fit my segment, all of which I interviewed.
Student and Customer at Starbucks at Library West #1
Student and Customer at Starbucks at Library West #2
Student and Customer at Starbucks at Library West 3
Student and Customer at Starbucks at Library West #1
Student and Customer at Starbucks at Library West #2
Student and Customer at Starbucks at Library West 3
3) Beginning with Need Awareness
Every individual stated that they normally are aware of this need when either standing in a long and slow line at Starbucks or when they order the same routine drink because they don't enjoy anything else. Additionally, two of them added that the specific time of day that they become aware of this particular need is in-between class periods on weekday mornings. This is when they have seen the longest wait at Starbucks consistently and added that "it's much shorter at Library West than Marston."
Every individual stated that they normally are aware of this need when either standing in a long and slow line at Starbucks or when they order the same routine drink because they don't enjoy anything else. Additionally, two of them added that the specific time of day that they become aware of this particular need is in-between class periods on weekday mornings. This is when they have seen the longest wait at Starbucks consistently and added that "it's much shorter at Library West than Marston."
4) Moving to Information Search
5) Report of Findings of my Research
All of the identified people who fit my segment stated that they initially think about where they can go or what other products may satisfy their need for caffeine or desire of taste. Some of which stated they search for information regarding the closest coffee shops off campus such as Dunkin' Donuts or Pascals if they are in search of merely another taste to the ordinary and most easily assessable Starbucks. Others shared that they searched for information on other drinks they could buy in order to satisfy their need for a new taste of caffeine - such as Bang, Monster, or soda. Moreover, these same individuals shared that many times they would rather "deal with Starbucks" than walk far on campus or drink a product merely for the need of caffeine such as Bang - which is far less enjoyable. Lastly, several individuals stated that they have mentioned this dilemma to their friends and family, typically while waiting in the long lines at Starbucks.
All of the identified people who fit my segment stated that they initially think about where they can go or what other products may satisfy their need for caffeine or desire of taste. Some of which stated they search for information regarding the closest coffee shops off campus such as Dunkin' Donuts or Pascals if they are in search of merely another taste to the ordinary and most easily assessable Starbucks. Others shared that they searched for information on other drinks they could buy in order to satisfy their need for a new taste of caffeine - such as Bang, Monster, or soda. Moreover, these same individuals shared that many times they would rather "deal with Starbucks" than walk far on campus or drink a product merely for the need of caffeine such as Bang - which is far less enjoyable. Lastly, several individuals stated that they have mentioned this dilemma to their friends and family, typically while waiting in the long lines at Starbucks.
6) Drawing Conclusions
After conducting these interviews, I believe the most valuable piece of information that I learned is the specific time in which two out of three of the individuals experienced this need, which is on weekday mornings in between class periods. Moreover, understanding more about the specific when, where and how the need is obvious is immensely helpful for not only preparing my entrepreneurial endeavor but appealing and selling it to potential customers and investors. Moreover, it was exceptionally beneficial to ask what their first initial instinct was when they became aware of this need - many of which said either hike off campus or purchase an energy drink instead. I had never considered how many individuals on campus may prefer energy drinks over coffee before this exercise. However, the franchise of Whidbey Coffee specializes in a specific drink entitled "Red Bull spritzers" which include flavoring and Red Bull energy drinks - perhaps this would be a perfect selling point to that sector of the market.
After conducting these interviews, I believe the most valuable piece of information that I learned is the specific time in which two out of three of the individuals experienced this need, which is on weekday mornings in between class periods. Moreover, understanding more about the specific when, where and how the need is obvious is immensely helpful for not only preparing my entrepreneurial endeavor but appealing and selling it to potential customers and investors. Moreover, it was exceptionally beneficial to ask what their first initial instinct was when they became aware of this need - many of which said either hike off campus or purchase an energy drink instead. I had never considered how many individuals on campus may prefer energy drinks over coffee before this exercise. However, the franchise of Whidbey Coffee specializes in a specific drink entitled "Red Bull spritzers" which include flavoring and Red Bull energy drinks - perhaps this would be a perfect selling point to that sector of the market.
Hi Caitlyn, I agree with you, I did not think that the same people who typically drink coffee are also in the same market segment as those who drink energy drinks. It seems like the main drivers of this segment's behavior is a shorter wait-time and variety in drink. Tailoring your business idea to these aspects would be helpful in how you create selling points - like you referenced with the energy drink portion. What would be a feature of your idea that could market to the need for a shorter wait-time. Ordering ahead definitely helps, although Starbucks has that. I think another aspect to be explored is how you can reduce the pricing for good quality coffee. Starbucks' prices are another deterrent to College Students.
ReplyDeleteHey Caitlyn,
ReplyDeleteI also find myself searching for good tasting coffee but I am deterred by long lines. I believe a key to shorter wait times is simplistic drink options. I find myself waiting at Starbucks and see the baristas having to complete an order with many steps causing a build up of orders. I find it interesting that people will result to energy drinks than to wait in line, maybe offering premade options will allow customers to get it and go. Great post!
~Sophia Scherzer
Hi Caitlyn,
ReplyDeleteVery good job on identifying this market distinction. There is a split here between these energy giving options. Are you focusing on getting both of these segments to buy your coffee products or are you only focusing on the coffee side? This was the one question that I had when reading this. I thing that if you over-extend your market, you may be limiting your effectiveness in reaching either of the two markets.
However, Whidbey Coffee's product that you mentioned might be perfect to balance this out.
Great post!