12A - Figuring Out Buyer Behavior
1.) The biggest segment for success is probably the 18-25 year old age when you are most likely a college student. These are the people that the app is mainly tailored to and the people with most likely the least amount of disposable income. This segment is crucial to my app because older people with more savings would be much less likely to need to save up small increments of money in order to make purchases of items that are essential to college students having fun.
2.) The three people that I interviewed all really liked my idea of the small savings to make purchases that a college student would eventually want but might not necessarily have the disposable income to purchase at this exact moment. Each person I talked to really liked the customizable aspects of the app and that they can put in specific items to know exactly how much they need to save in what amount of time in order to make a purchase.
3.) All of the interviewees said that the need awareness can strike at anytime. Sometimes purchases need to be made immediately and it would be awesome to have some reserve money stored up so that these purchases can be made. The main reason for the app is to relieve any financial stress or the fear of falling into a situation where you dont have enough to make a small purchase of an essential item.
4.) When people encountered these problems, the first thing they did was try to manually calculate or budget their money to make it work but that process is tiring and can be infuriating if you aren't particularly financially inclined. The process of budgeting can be confusing and tedious for many and this app can relieve that stress.
5.) To conclude, the main thing about this app is the customizability and the specific tailoring towards college students. Many people in college are running on miniscule budgets and an app to help budget out would be extremely helpful to these students that need to make ends meet week by week and want to make a larger purchase sometimes.
2.) The three people that I interviewed all really liked my idea of the small savings to make purchases that a college student would eventually want but might not necessarily have the disposable income to purchase at this exact moment. Each person I talked to really liked the customizable aspects of the app and that they can put in specific items to know exactly how much they need to save in what amount of time in order to make a purchase.
3.) All of the interviewees said that the need awareness can strike at anytime. Sometimes purchases need to be made immediately and it would be awesome to have some reserve money stored up so that these purchases can be made. The main reason for the app is to relieve any financial stress or the fear of falling into a situation where you dont have enough to make a small purchase of an essential item.
4.) When people encountered these problems, the first thing they did was try to manually calculate or budget their money to make it work but that process is tiring and can be infuriating if you aren't particularly financially inclined. The process of budgeting can be confusing and tedious for many and this app can relieve that stress.
5.) To conclude, the main thing about this app is the customizability and the specific tailoring towards college students. Many people in college are running on miniscule budgets and an app to help budget out would be extremely helpful to these students that need to make ends meet week by week and want to make a larger purchase sometimes.
Michael, awesome job at describing how your interviews went! It is great to see that those you interviewed truly were in need of the idea you're posing. As I am reading about, I can't help but truly wish to see your concept come to life, as saving up in small increments is something I truly struggle with! To have an app that does it for me is so convenient and helpful, as I will actually be able to purchase or do the things I wish I could but never can because my saving skills are lackluster!
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