Since my product is intended for business to business
transactions, I told the interviewee’s to imagine as though they are the CEO of
a company that is looking to save money and enhance their marketing department.
Summary of my Findings:
When I Interviewed these people, I told them what my product
is and its intended use, then I asked them to pick the most important factor out
of three options: price, effectiveness, or accurateness. All three chose
effectiveness as being the most important factor when deciding to buy a product
like mine. 2 of the interviewee’s said that before actively pursuing my idea,
they would need to see data indicating that it is effective. I then asked them
who they thought the ideal customer would be and they all said companies that
run commercials. However, I then went into further detail. I proceeded to ask,
what kind of businesses? Like only big companies or small ones also? Who all
would be involved? All three said that small companies don’t have the necessary
recourses to collect data and target their ideal customer. For the next
question, 2 of them said that a company’s board, CEO, and CMO would have to
work with the cable company to sign a deal. The other said that before anything
like this could happen, it would have to be approved as ethical. The last
question I asked was, what would make this a good purchase? All three said an
uptick in sales. If the new marketing strategy is employed, their costs go
down, and sales go up, than the product can be considered a good purchase.
Conclusion:
After hearing their thoughts, it has become apparent that
companies are okay with a larger sticker price so long as the product delivers
the desired results. The number 1 concern is effectiveness and as long as their
sales go up after implementing my product, they will be happy with the
purchase. Similar to what I have heard before, there could be ethical issues
with my product, some people could view it as a means to invade one’s privacy. Also,
there will have to be many parties that reach an agreement in order for my
product to come to fruition.
Cody,
ReplyDeleteI think you hit the nail on the head in the sense that if something will be beneficial for a company in the long run, then the higher price is OK. I still think that your idea is a good one and can be beneficial for companies and consumers. The person that brought up ethics brings up a good point. In today's day and age, companies are constantly needing to make sure that everything they do is ethical. Well done!
Hi Cody,
ReplyDeleteI think it was great that you asked the interviewees to imagine themselves in a place of power. I believe that this visualization gave them a good idea of exactly how to answer your questions.