15A - Figuring Out Buyer Behavior No. 2

Begin with alternative evaluation. In the last case exercise, you determined how customers sought information related to solving their need. The outcome of this step is to produce a set of alternatives. Customers pick from among this set of alternatives. In this step, your job is to figure out how they do their picking. Does price matter the most? Does quality? Does style? Is there more than one factor that is important to your customer segment?

During my last evaluation, my segment was men and women in their late 20s to mid-30s. These people are adventurous, environmentally conscious, and they are active within their communities. Those that I interviewed placed value in the location, amenities and price of the place. However, to most, the location and amenities we extremely important. However, price was undervalued. In my recent interviews, there was a heavy emphasis placed on price of the vacation. Comfort and style were also important to this customer segment.

How/where do they buy? Elements of the actual transaction can help characterize your segment. Is your segment more likely to buy online or in a store? Are they more likely to use cash or will they finance the purchase? Etc. If this is a B2B purchase, who's involved in the purchase decision?

These customers will look everything up online beforehand. They will use review sites like trip advisor to help them make their decisions. Then they will price shop different vendors in order to find the lowest, most reputable rate. Finally, they will make all deposits and purchases necessary online.

Post-purchase evaluation. What matters most to your customers when they think back on the 'rightness' of the purchase? What helps them determine the purchase was a good idea? What sorts of things make them think a purchase was a bad idea?

They will evaluate how comfortable their vacation was. They will consider the amenities that they used, the comfort of their room, the friendliness of staff, and the travel accessibility. Then they will compare that to the price that they paid for the property and this comparison will decide the property’s worth.

Report the findings. Simply summarize your interviews.

Those that I interviewed had similar answers to those that I interviewed previously. However, price and comfort were a much larger factor for these buyers when they make decisions. One buyer stated that the two main things that she considers before making a purchase are price and reviews.

Draw conclusions. Based on what you know about this segment and what you learned in your interviews, how would you succinctly describe this segment in terms of alternative evaluation, purchase decision, and post-purchase evaluation?

I would maintain my description of the segment that I initially proposed. However, I would make a few changes. This segment may be travel-oriented and adventurous, but they still value factors such as price, comfort, and convenience.