12A - Figuring Out Buyer Behavior No. 1

For this assignment, I chose a segment of people who have started their own businesses. All three of the people I interviewed went to college and a major in the business school at their respective colleges. One of them was a guy who just graduated from college and started a website design business. Another one was a girl who started her own t-shirt business. The third person was a guy who created iPhone apps that are currently on the app store today.

All three of the people I interviewed told about their business journey and how their ideas came to be. They all said they wanted to start their own business at some point in their lives and that all they needed was a product that people wanted to buy. Once they came up with the product, the hard part was getting customers. The problem was not that there were not many customers. The main problem was that it was hard to make people aware of their products. Acquiring customers can be very expensive and most people in the beginning stages of their business. Do not have a lot of money to spend on marketing their product.

From doing my interviews, I learned that even though I might create a great product and there may be millions of potential customers out there, the biggest issue is going to be getting to be getting these people to use my product. Because there are already similar products out there, acquiring customers is going to be very difficult. I will have to prove to customers that my products are superior to all the others. It will probably be very difficult to go about marketing and advertising my products, but I believe I will be able to do it.