The segment I picked last time included young people who spend a large portion of their discretionary income on makeup and skincare and are involved in makeup culture. This week, I interviewed a few more of my friends who fit this market segment.
Alternative evaluation:
At first, I thought it might be hard to interview the subjects on alternative evaluation since there aren't many alternatives to the product I'm offering. Instead, I decided to ask them about how they evaluate alternatives for makeup and makeup tools to understand how the market thinks about this class of products in general so I can apply it to my own innovative product. One interviewee said that the quality/functionality of a product matters more than brand name, but they'll go with a more expensive brand if the packaging is cool enough to be a collector's item. Another said that you get what you pay for with beauty products, so she usually sticks to trusted brands who are known for their quality product, even if they're more expensive. The third said that the quality of the products she buys is entirely dependent on the number in her bank account.
How/where do they buy?
Surprisingly, I got a good mix of answers from this question. I expected all my customers to say that they order online, but it seems that the subjects prefer a mix of online and in-store shopping. One said that she goes into stores to try products, see their physical size, and judge quality before buying online, where products may be cheaper. Another said that she buys primarily online, but only if there are plenty of good reviews of the product with photos. If not, then she will go to a store to test and possibly buy the product. The third subject said that she will buy cheap products online because there's not that much risk involved if the product is dissatisfactory, but will go into a store to buy a more expensive, higher quality product. All answered that they make purchases with their debit cards.
Post-purchase evaluation:
This section of the interview was pretty unanimous. It seems like it all comes down to quality for makeup users. If you buy a lipstick and it all comes off after one drink when you wear it out, one subject said, then that's a clear indicator of a poor quality product and a negative post-purchase evaluation. The same goes for beauty tools. One said that if the presentation of the product is good enough (i.e. If it's aesthetically pleasing and looks nice on their vanity) then they might be more willing to excuse mediocre quality.
Conclusions:
In general, it seems like quality is king when it comes to customers of the beauty industry. Customers seem to be willing to pay more for a high-quality product, but packaging and aesthetics are just as important to many consumers. This means that I can probably up the price of my mirror to ensure that it meets customer standards. It also means that I'll have to pay particular attention to how the mirror looks. After all, the beauty industry is literally all about aesthetics, so I can't get away with an ugly product, even if it works well.
Alternative evaluation:
At first, I thought it might be hard to interview the subjects on alternative evaluation since there aren't many alternatives to the product I'm offering. Instead, I decided to ask them about how they evaluate alternatives for makeup and makeup tools to understand how the market thinks about this class of products in general so I can apply it to my own innovative product. One interviewee said that the quality/functionality of a product matters more than brand name, but they'll go with a more expensive brand if the packaging is cool enough to be a collector's item. Another said that you get what you pay for with beauty products, so she usually sticks to trusted brands who are known for their quality product, even if they're more expensive. The third said that the quality of the products she buys is entirely dependent on the number in her bank account.
How/where do they buy?
Surprisingly, I got a good mix of answers from this question. I expected all my customers to say that they order online, but it seems that the subjects prefer a mix of online and in-store shopping. One said that she goes into stores to try products, see their physical size, and judge quality before buying online, where products may be cheaper. Another said that she buys primarily online, but only if there are plenty of good reviews of the product with photos. If not, then she will go to a store to test and possibly buy the product. The third subject said that she will buy cheap products online because there's not that much risk involved if the product is dissatisfactory, but will go into a store to buy a more expensive, higher quality product. All answered that they make purchases with their debit cards.
Post-purchase evaluation:
This section of the interview was pretty unanimous. It seems like it all comes down to quality for makeup users. If you buy a lipstick and it all comes off after one drink when you wear it out, one subject said, then that's a clear indicator of a poor quality product and a negative post-purchase evaluation. The same goes for beauty tools. One said that if the presentation of the product is good enough (i.e. If it's aesthetically pleasing and looks nice on their vanity) then they might be more willing to excuse mediocre quality.
Conclusions:
In general, it seems like quality is king when it comes to customers of the beauty industry. Customers seem to be willing to pay more for a high-quality product, but packaging and aesthetics are just as important to many consumers. This means that I can probably up the price of my mirror to ensure that it meets customer standards. It also means that I'll have to pay particular attention to how the mirror looks. After all, the beauty industry is literally all about aesthetics, so I can't get away with an ugly product, even if it works well.
Hey Peyton, nice job with the post. I think it’s great you are actually finding out what you need to do if you want to make this product successful. For consumers in many different markets, buying a product should be not only about the quality of the product, but also the experience. If consumers feel excited about unboxing the product, and they like using it, that’s already halfway there. All you need from there is a quality product. Great job!
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