12A – Figuring Out Buyer Behavior No. 1

1.) Pick a segment.

My target market are those who live in coastal states. The segment I will choose from this market will be young adults who either live alone or with other young adults. I choose this segment because young adults are typically young enough to be living alone and to be less prepared than families are during natural disasters. I want to find out how they would prepare for a storm.

2.) Find three people who would fit that segment and arrange to interview them.

I interviewed three of my friends. All of my friends who I interviewed live with other roommates that are approximately the same age. All three of them live in a house that is not backed by renter's insurance.

3.) Begin with need awareness.

I asked my interviewees questions to further find out about the specifics of their unmet needs. After interviewing all three, I gained some valuable insight. This need is something that is only needed during Hurricane season. However, although it is safe and responsible to purchase the Hurricane Survival Kit in advance and save it for each storm, the actual strong need for the Hurricane Survival Kit only arises when a storm is pending landfall. Once a storm hits category 3 or above and is confirmed to make landfall, everyone in that state goes into a frenzy to purchase supplies. That is the time where the demand for the Hurricane Survival Kit is most inelastic.

4.) Move to information search.

When an independently-living young adult is informed of a storm coming their way, the first reaction is to ask their parents/close-family-members what to do. Most families would provide an extensive list containing items that must be retrieved from several different locations. Also, given the nature of students and their inexperience, a lot of students don't end up buying certain essentials before they sell out. This includes gasoline, water, and shutters. The Hurricane Survival Kit would save a lot of young adults time, money, and the effort of having to travel across town for supplies.

5.) Report the findings of your research.

Other than what I have previously stated, I have learned that the Hurricane Survival Kit is a great idea, but would only work with proper marketing. The interviewees said that if they knew about the Hurricane Survival Kit, they would get it every time. Going forward, I need to make marketing a priority of this business. As of the actual content of the Hurricane Survival Kit, I learned that everything included in the survival kit is necessary and essential.

6.) Draw conclusions.

This segment will definitely benefit from the perks the Hurricane Survival Kit has to offer. Young adults are typically less responsible than older residents, which widens the possibility of error in preparation. Not only would purchasing the Hurricane Survival Kit help save money, but it would also ensure that each household with it is fully prepared.