12A – Figuring Out Buyer Behavior No. 1
Figuring out Buyer Behavior
For my segment, I picked couples in their 30's who are either looking to build a home or have recently bought a home. Thankfully most of my cousins fit this segment so it was easy to find people to interview. I would say that all three were aware of the need for climate change resistant housing. Rising temperatures mean increasing electricity bills and they are aware that building using better insulating materials as well as implementing solar energy could save them money in the long run. They said that the first place they would go for information search is google and they would search how to cut down on their electricity bill. Some key terms would be climate change, housing, expensive electricity bill. I think this segment is relatively well aware of the need for my product and use the internet for their information search.
Good job getting the job done. I wasn't able to find out specific search terms or key words my future customers would use, but I wish I could have like you did. I also appreciated learning about the decreasing electricity bill aspect of this part of your market. What I would really be interesting in learning next is how much young couples are willing to pay to meet their need for climate change resistant housing, since I know, even if something is bound to save you money in the long run, a lot of people get scared away because of initial cost.
ReplyDeleteI believe you chose a very good segment to look into,
ReplyDeleteThis is the perfect demographic for you to study, due to the sheer fact that they are the next generation of longtime homeowners. I was very fortunate that your cousin fits into this age range as that interview must have helped a lot. I also feel as this was a good choice as those people grew up learning more about ecological issues than older generations.