15A – Figuring Out Buyer Behavior No. 2

Interviews:

1. My uncle is a small business owner and I decided to interview him. He has an unmet need that involves him incurring financial risk due to cyber threats lurking around. I asked him, what methods of cyber security does he have and he says he has a system that is pretty costly and he would prefer one that is cheaper. He also states that he'd prefer one that has high quality of risk protection. He believes that the bundle of those two would provide him a perfect system. He claims that he tends to buy stuff online rather than in a store and he also has a website in which he sells his products. He knows that it is more risky to do that, but it gives him more business. Therefore he tends to finance his purchases rather than using cash up front. He tends to buy from other businesses to support his own and these are goods like raw materials and safety measures. He believes that for a purchase to be considered good, the quality of its utility must be greater than its cost.  
2. Family friend from church. This person is a frequent online buyer and supports small businesses. She claims that as a customer she prefers businesses that have the safest security measures. Therefore, safety is the top priority over price. She claims searching online can have many risks especially if money is transacted on an unsafe sight, even though the site may seem safe enough. I gave her my business idea and she said that it would most definitely help her in her decisions as a customer as well as giving small businesses more business. Since she usually pays on an account, it is slightly threatened with every purchase even with the fact that those accounts have secure measures themselves. When being asked what would make the purchase a good decision, she responded, "The benefits must outweigh the costs". 
3. My barber. My barber works for a small barber shop business and he claims that many people have started to purchase through credit cards since many people do not carry cash that much. This had led him to purchase a small system to scan cards. He also says that due to the fact that all these people are doing transactions through accounts, he has to be accountable for the risk it can have. As a likely investor in a new transaction base, he says he looks online for the cheapest alternatives. He says that since he cannot afford many measures, his top priority is the price of the system. To him a purchase would be considered good if it didn't cost to much to do a basic function, even though risk is more present in that scenario. 

Conclusion: 

Upon interviewing three people that are in my business segment, I have gained some very interesting information regarding their purchase behavior. I believe that my product can assist all three of the interviewees in their perspective buyer behaviors. What I found similar between all three interviews was that they all purchase online through account most of the time. This buyer behavior is useful in my scenario because my product is made for transactions like that.