Figuring Out Buyer Behavior No. 1

1. Segment: Female college students

2. Interviews: 20 year old female student, 19 year old female student, and 21 year old female student

3. Need Awareness: All three of my interviews yielded very similar responses, which makes sense considering the interviewees were all from the same segment. Each of the three women I interviewed stated that they do acknowledge an unmet need for an easy transition to a more eco-friendly everyday lifestyle. Two of the women felt that the need to make switches to renewable resources and energy was most prevalent in their lives when the topic of climate change was brought up in the news, social media, or their daily conversations. The other woman stated that she constantly is searching for ways to produce less waste and reduce her energy use. I believe their needs are so similar because they all have been raised in a generation that cares about the environment and realizes the pressing need of the climate crisis and planet protection. 

4. Information Search- I questioned the women I interviewed what they first did when they became aware of their need. I asked them where they search for information. The 20 year old woman said she often looked on social media, often Twitter, to find more information about the most recent developments in the shift towards an eco-friendly lifestyle. The two other women told me they do not often search through social media, but instead go online and search things such as “small changes to help the environment” and “how to use less plastic.” Two of the women had already ordered reusable straws and/or bags for shopping. All of the women said that their friends usually share information about how they make their lives more sustainable as it happens, usually in a group chat with an update about buying a metal straw or about the newest Tesla that has come out. 

5. I learned in my interviews that people in this segment do want to fill that unmet need. They want to make small changes that will help the world, but they want it to be put in front of them, so that they can do less work. 

6. This segment definitely has need awareness, but it is not constantly on their minds. Each of the women I interviewed agreed that this was an unmet need in their daily lives. In terms of information search, their searches could be deeper but they definitely do dedicate some time to gaining information. 

Idea Napkin No. 1

1. Who I Am- My name is Nicole Kone and I am a sophomore at the University of Florida. I am an Economics and Sustainability Studies double major. I believe my strengths to be my charisma and my sense of humor. I usually can make people laugh quite easily, which makes people tend to feel as though they connect with me early on. My aspirations are to help save the world, become an environmental lawyer, and make a difference in the fight against climate change. I see the solar powered phone charging case playing a role in my life by being a step in the right direction of making changes that will help the environment. 

2. What I Am Offering To My Customers- My product will satisfy the unmet need of an easy transition into renewable energy in everyday life. The case will be affordable and customizable, making it an appealing product on its own. I am providing customers a phone case they will already want, that also helps save the world. 

3. Who I’m Offering To- My customers will be people who have phones, want a phone case, and especially those who want to help the environment. While I think that environmentalists and people already make a conscious effort will already buy this case, the case’s customizability and affordability will be a huge draw for customers who are just in the market for a new case. 

4. Why They Care- The truth is, for my product, customers do not need to care about the environment. Those who care about protecting their phone, or having a portable charger will be on board to buy my product by themselves. The charging capabilities and design of the case in itself will encourage people to spend their money on the case. The added plus is helping the environment, which may also be the draw for other people. 

5. My Core Competencies- What sets me apart from everyone else is my background in both economics and sustainability. For that reason, my knowledge and planning for my product is specifically geared to help the environment AND generate income. 

I truly believe all of these elements fit well together. With my desire to help save the world, the amount of potential customers, my unique product, and my unique background all fit together in a way that makes me believe in my product and pitch. I believe that no part of my business concept is weak because I truly do not believe that there are people actively working against the environment. 

Elevator Pitch No.1

or watch my video here: https://youtu.be/yLUzhH3hH18

Testing the Hypothesis, Part 2

Who: Through my interviews, I became more aware of people who do not fall within my boundary. I spoke with a 52 year old male who felt that a solar power phone case  charger would not benefit him. He felt that his time spent inside an office building, with few windows, would not benefit from using the charger. He said it would be much easier for him to just plug his phone into the wall, as he also doesn’t pay the electric bill. Also, those without cell phones, such as those who are too young are can’t afford them, will not benefit from this opportunity. 

What: This need is important and pressing, as our shift towards renewable energy could help save the climate crisis. Not everyone may feel as though this opportunity is important or urgent, but it’s benefits will be reaped by the world. 

Why: The needs of those who fall within the boundary are not too different from those who fall outside of it. The people outside of the boundary may feel that solar power and renewable energy are not effective transitions for their lives. Although, their want to save the planet may be the same. 

Inside the boundary

Who is in: All people who feel they can make the switch to solar charging without making their lives harder.

What the need is: To provide an easy transition into solar and renewable energy in everyday life.

Why the need exists: Because we need to try and save the planet by making changes wherever we can. This opportunity allows us to do so by providing an easy way to use solar energy. 

Outside the boundary

Who is not in: Anyone who feels content with the state of our climate crisis, does not have a phone or frequent access to sunlight. 

What the need is not: This phone charger will not repair the damage done to the planet or save us from climate change.

Alternative explanations: This phone charger would be helpful for many people and has positive benefits, but would be a transition for many people’s daily lives. 

Solving the Problem

The opportunity I discussed in my previous post is about the unmet need of providing people with a way to charge their phones with a renewable source that is convenient and not that expensive. Preserving the environment and saving the world has become an increasing campaign around the world. People are constantly looking for ways to lead more sustainable lives.  There are also people who do not have access to electrical outlets during the day, or at all times. These problems can be solved by using the Sun, a resource that cannot be depleted, outside or anywhere with sunlight. If this case would convince one person to become more sustainable or help one person it would be successful.

Through this phone case, the environment will be more protected and people will be able to charge their phones more easily. The point of the case is to be a sleek and cheap way to lead a more sustainable lifestyle. I want it to look and feel similar to another battery charging case, which may be difficult to achieve. The case will have a part that can be folded so that the solar panels are exposed when the phone needs to be charged. The chord will also be tucked in under another fold of the case, or there could be an attached charging pad. There may be a case with solar charging, but it is not affordable, sleek or popularized. I really believe this case could change the way we view nonrenewable electricity in our everyday lives.  

Testing the Hypothesis, Part 1

!. Opportunity: A cheap and accessible phone case with solar panels and a phone charging cord. 

2. 

            a. The who: Everyone with a phone

b. The what: They are unable to charge their phones in a way that utilizes renewable resources. 

c. The why: There is currently not an affordable or easy way to charge through renewable resources.  

3. 

            a. Testing the who: Everyone has the need to make the transition into renewable resource use to help save our planet. Charging a phone is something most people do everyday, many times a day. 

            b. Testing the what: The world needs to move in the general direction of sustainability and renewable resources. The charger case is an easy transition to this new approach to charging. The charger case needs to be lightweight, durable and the same price as other charging devices. 

            c. Testing the why: People who feel strongly about sustainability will finally have a long-lasting and less expensive way of reducing a part of their daily carbon footprint. People who cannot afford or want to reduce their electrical use can have a means of charging their phone in a marginally free way. Also, people can charge their phones when travelling or adventuring outside, without having to halt their fun. 

4.

Interview

a.     21 year old female student

b.     Middle-aged mother of 3 children

c.     19 year old female student

d.     19 year old male student

e.     16 year old female student

1. Do you care about the environment?

a. Yes

b. Of course

c. Yes

d. Yes

e. Kinda

2. Would you change something small in your daily life to help the environment?

a. Yes, if it was actually something small.

b. Yes, I’ve been trying to switch to more recyclable materials!

c. Depends what it is but probably.

d. Yes, for sure.

e. Maybe depends what it is.

  

3. Would you consider buying a phone case with solar panels in order to charge your phone on the go and with a renewable resource?

a. If it wasn’t really ugly or heavy, yeah.

b. Yes! I think that would do really well on Amazon or for Apple.

c. Yes. For sure, that’s really convenient.

d. Do they have that? Probably if it wasn’t super expensive.

e. If it was slim, probably.

4. Do you think others would buy that product, even if they don’t care about the environment? Would you be willing to tell others about it?

a. Probably, if it was stylish enough. I would definitely tell others about it. 

b. Yes to both. My friends would buy them and I would tell them about it.

c. Yes, others would buy it because you don’t need to plug in your phone to charge it. I would tell others about it, too.

d. Maybe, if it isn’t too heavy. If it worked and was cheap I would tell others about it.

e. I think others would buy it if it wasn’t really expensive. Yes, I would tell other people about it. 

According to my interview, the design and price are huge factors in the success of the opportunity. From this information, I would need to make a really sleek design that would probably still fit in a purse or pocket and look stylish. I would spend money and probably hire people in order to create the design so that it can be enticing in order to originally get people to buy the case. I believe the case has potential and would be a huge step forward in the sustainability movement. 

Identifying Opportunities in Economic & Regulatory Trends

Economic Trend: More Retailers File for Bankruptcy Twice as They Struggle with Rising Debt, Pressure from Amazon

A.   https://www.cnbc.com/2020/02/01/why-many-retail-chains-like-fairway-have-filed-for-bankruptcy-twice.html

B.    The information in this article has led me to believe a new opportunity exists. Huge name stores and brands have been filing for bankruptcy not once, but twice. I believe the opportunity arises from this excerpt “Part of the problem is that it is only becoming more difficult to remain relevant as a retailer in an age where Amazon is dominating more categories online as consumers shop from their couches instead of in stores.” These stores are not doing well because they are competing with the comfort and convenience of shopping from homes, or really anywhere.

C.    The idea customer is a working parent constantly on the go but still wanting to buy from her favorite shop, not Amazon.

D.   I think the opportunity is relatively easy to exploit. If we could find a way to give a virtual tour of a shop to shoppers, or let them thumb through the racks on their phone, shoppers would still buy from these stores just from a remote location.

E.    I believe I saw this opportunity as a young woman who loves shopping but has very little time to do it. For that reason, I have always thought about a better way to online shop from my favorite stores.

Economic Trend: Newer Generations Shifting Towards Thrift Shopping in Effort to Save Pockets and Planet

A.   https://www.insider.com/resale-clothing-sustainable-recycle-donate-used-thrifted-2020-1

B.    This information has led me to believe an opportunity exists. Because newer generations are buying used clothing to save the planet and money, why wouldn’t they spend their money on other used goods?

C.    The ideal customer is a teenager who cares about fashion, the environment and a budget.

D.   I think this opportunity is again relatively easy to exploit. If given the chance to shop in a mall that consists of entirely used, but working, goods I think thousands of people would go. People will look for the easiest way to do something so finding all used goods in one place will make shopping for them much easier.

E.    I believe I saw this opportunity because I am someone who doesn’t mind using used goods and I care greatly about the environment. I don’t like the “throw away” mindset so this opportunity was fairly easy to spot.

Regulatory Trend: A Shift Towards Enforcing Background Checks for Gun Purchases

A.   https://kdvr.com/2020/01/23/fbi-to-audit-state-gun-background-checks/

B.    This information has lead me to believe an opportunity exists. There have been too many people hurt and killed because of our nation’s attitude and laws regarding gun policy. There is a growing problem that our politicians refuse to agree on policy that would save lives.

C.    The ideal customer for this opportunity is everyone. Everyone would benefit from stricter gun laws.

D.   I believe this opportunity is very difficult to exploit because politicians can never agree on anything because of their unbearable need to “win.” It is really sad that such an important issue has such difficulty finding a solution because there are so many sides to the issue.

E.    I believe I saw this opportunity because I live near Marjory Stoneman Douglas and for that reason I feel very passionately about gun control policy. People near me have been hurt terribly and it is time for something to be done.

Regulatory Trend: Money and Market for Cyber Security is Growing

A.   https://www.timesofisrael.com/as-threats-grow-nyc-launches-100-million-israeli-run-cybersecurity-hub/

B.    This information has lead me to believe an opportunity exists. As the Internet has grown, cybersecurity has become an increasingly more important. There are hackers and cyberthreats that are becoming a problem for regular citizens and national governments.

C.    The ideal customer for this opportunity are computer users and national governments that use technology and want to protect the data on their devices.

D.   I believe this opportunity is difficult to exploit because it would take people with very specific knowledge and skills. It would have to be people who truly understand technology and the data.

E.    I believe I saw this opportunity because I am a young person who wants to protect my privacy. Growing up with the Internet has made me wonder how the progression of data sharing will become a benefit to society but also a threat.