Skip to main content

Assignment 12: Figuring Out Buyer Behavior

Choosing a segment: For this assignment, I chose my largest, easiest to access segment. This is the segment of ordinary consumers who are beauty and makeup enthusiasts. I spoke to a few of my friends who are really into makeup, all women in their early 20s. I feel like the hotel/Airbnb manager segment is one I have nailed down, but I think I really need to understand the majority of my customers before proceeding. After all, by targeting these managers, they are targeting these same consumers as well. Thus, understanding regular makeup enthusiasts who are interested in this product is crucial to my business' success.

Need awareness: All three agreed that the need is most prevalent in hotel rooms. They said they've never been to a hotel with the proper lighting for makeup application. One interviewee said that she packs a portable mirror when she travels so she can do her makeup sitting in front of the hotel room window. This piece of information is good for me because the consumer is already going the extra mile to meet their own need. My product would likely be a welcome solution.

Two of the interviewees said that they had sufficient lighting in their bathrooms, so it wasn't really a need at home. One, however, said that her bathroom had poor window lighting and often goes into her parents' bathroom to do her makeup since it is well-lit. This creates problems for her when one of her parents is using the bathroom and she either has to manage in her own bathroom or wait for them to get out.

Interestingly, one of the two who has sufficient lighting said that the problem occurs for her at night, when there is no daylight to fill the bathroom. This interviewee enjoys nightlife and clubbing, so she is often doing her makeup at night. She jokingly said that no one can really see your makeup in the club anyway, but that she has been embarrassed by pictures that surfaced the morning after.

Information search: I found that this isn't really a problem that requires information search, which makes it the perfect problem. I've found that the problems in my life that most needed solving were not ones that I was frantically trying to solve, but the ones that I was unconsciously going out of my way to work around. The interviewees all said that the only solution to the problem is to move somewhere else to do their makeup and that they didn't really think about searching for alternatives.

Summary: My findings indicate that my target market is most aware of the problem in travel situations and in their homes specifically at night if they do not have the problem during the day. This tells me that I am right to target hotel and Airbnb owners as well as regular makeup consumers. However, this also tells me that it will be harder to market to the regular consumer than the owners because they have different reasons for the problem. Owners all have the same reason for the need. This means that I will have to be mindful of customers with many different reasons for buying going forward.

Conclusion: I would describe this segment as makeup enthusiasts who spend much of their discretionary income on beauty and beauty tools. They are aware of the need at home and during travel. Their current solution does not involve any other products that might compete with mine. They have not initiated information search into any better alternatives to their current solutions.

Comments

  1. Hey Peyton! I think you did a really good job with your post, again. Interviewing everyday makeup users was a smart choice, and it revealed where you have to change your product, or rather the way you'll advertise it. Also nice summary of your findings and description of the segment. Great job!

    ReplyDelete
  2. Hey Peyton! Its very cool that your idea proposition has been nailed down to the point that your customer research matches the projected problem that you set out to solve! I also think that targeting hotels and Airbnb's is a very important and significant sector with a lot of room to grow. Awesome research!

    ReplyDelete

Post a Comment

Popular posts from this blog

Assignment 25: What's Next?

Existing Market What I think is next: Assuming the launch goes well, people are buying from my website, and the mirrors make their way to the shelves of Sephora and Ulta, I think my customers will want different shaped mirrors next. Some might want a full-length mirror to get the whole outfit in, some might a small mirror to keep on their desk, etc. I also think we can start making different colors and border designs to fit different room aesthetics. After all, a room with a rustic feel and a room with a mod feel are going to need two very different mirrors.  Interviews:  Boy, my predictions for what's next for my market couldn't be further from what my interviewees saw as the future of my brand. I know that this is the point of doing assignments like these, but I'm always both shocked and impressed by how far my interviewees' answers seem to be from my expectations. I interviewed a few more of my friends who are into beauty and skincare, I will say that all of them...

Assignment 23: Your Venture's Unfair Advantage

1. Human capital: I know makeup. This is a simple thing, but it's the most obvious trait I simply need to pull this off. Because I know the beauty industry well and what tools are needed to make makeup application a breeze, I know the functions this mirror should be outfitted with. Valuable: Like I said, I think it's the foundation of all the resources I possess. Knowledge about the industry is extremely valuable if I hope to break into it. Rare: Not rare at all. Many people have knowledge about makeup, but not everyone wants to start a business. Inimitable: Very imitable. Many people possess the knowledge I have. Non-substitutable: I suppose it is since you can't substitute knowledge on the industry with other knowledge. I guess I could hire people who know the industry better than I do, but that would be a waste of resources.  2. Social capital: I happen to know someone with their own makeup brand whose products are stocked in Riley Rose, a popular makeup store. ...

Assignment 22: Elevator Pitch No.3

Reflection and changes: On my last pitch, I received the feedback to distinguish myself from market competitors in my pitch. I think this was a fair point since there are makeup mirrors on the market that attempt to solve the same problem I am addressing, but with the wrong methods. Most mirrors boast that they have strong, bright light, but that doesn't necessarily mean better quality lighting overall. Just because the light is powerful doesn't mean it is the correct hue or intensity. I think my mirror's unique ability to color correct lighting is what sets me apart from other vanity mirrors, so I included a line about this in my final pitch. I didn't change much else since I think I've got my pitch down to a nice length and level of description. I found that each of my takes hit around the 90-second mark pretty spot on, so I think I've got the timing down to a science.