1. The first person I interviewed was a 23 year old female, who is an art major at FAU and works as a waitress in a local diner. The second person I interviewed was a 25 year old male, who just graduated from the local police academy. The third person I interviewed was a 35 year old female, who is the director at a local childcare center and has three kids at home.
2. When asked about what the most important factor was when considering to buy a product, the 23 year old said she first looked for style and then at the price; the 25 year old said that quality was the most important factor; and the 35 year old said that the quality and then the price were the main things she looked for when considering to buy a product/service.
3. The 23 year old said that she was more likely to buy online than in stores and that she usually uses her credit card or debit card for the purchase. The 25 year old said he was pretty split between online and in store shopping and that he uses his cards more often than cash. The 35 year old said she was more likely to shop in stores and that she usually uses her debit/bank card for the purchase (unless it was a little over budget, in which then she would use her credit card).
4. Overall, the people I interviewed said that if they were happy with the service/product use/outcome, then it would be considered a good purchase. If there were problems with the product/service and they got more headache than joy out of it, then they consider it a bad purchase.
5. What I got from these interviews was that customers look for quality, style and price when they consider buying something and that they're more likely to use their cards than cash to purchase that something. I also saw that a purchase is considered a good buy if they get more enjoyment out of the product/service than they did a headache.
6. With my segment being price, I learned that price matters when compared to all the other alternative evaluations of the product/service, the most. I also learned that price is a big factor in purchase decision and whether the customer feels like it was worth what they paid for after they've made the buy, in their post-purchase evaluation.
Thursday, February 28, 2019
Friday, February 22, 2019
Assignment 13: Reading Reflection 1
1. I think what surprised me the most about Mary Kay was that she started in a time period in which men dominated everything and yet she was still able to push through all of the challenges she faced and made her dream company come to life. I admire her perseverance and drive to make her dream come true but also her ability to keep her priorities straight through it all. She encountered adversity and failure multiple times in her life and career but she learned from her failures and pushed through the adversity to build herself and her company.
2. I think that she had a great amount of competency in sales and the ability to know your market. She identified a need and worked hard to deliver a solution to those with that need.
3. I was a bit confused on how she didn't even have a product yet before she was able to come up with her potential business plan. How do you have a plan for something that you can't even identify?
4. I would ask her about my above confusion, on how she had a business plan before a conceivable product because that is a bit backward thinking to me. I would also ask how she was able to maintain a balance between work and personal life because I can't even imagine building a cosmetic empire and being able to have a personal life at the same time.
5. I believe that Mary Kay's definition of hard work would be along the lines of pushing through whatever obstacle you have to make your dream come to life and to learn from your failures so you can continue to build your future successfully. I would share this opinion of hard work.
2. I think that she had a great amount of competency in sales and the ability to know your market. She identified a need and worked hard to deliver a solution to those with that need.
3. I was a bit confused on how she didn't even have a product yet before she was able to come up with her potential business plan. How do you have a plan for something that you can't even identify?
4. I would ask her about my above confusion, on how she had a business plan before a conceivable product because that is a bit backward thinking to me. I would also ask how she was able to maintain a balance between work and personal life because I can't even imagine building a cosmetic empire and being able to have a personal life at the same time.
5. I believe that Mary Kay's definition of hard work would be along the lines of pushing through whatever obstacle you have to make your dream come to life and to learn from your failures so you can continue to build your future successfully. I would share this opinion of hard work.
Assignment 14: Halfway Reflection
1. Tenaciousness is a competency. For this class so far, I have had to be creative in coming up with ideas for businesses, I have had to use forward thinking and try to be more open-minded in order to fully find and address the needs of myself and others. This class has required me to think more like an entrepreneur.
2. Tenaciousness is also about attitude. A lot of the assignments for this course were a bit confusing and time consuming and I felt like just giving up and taking the zero on most of them since I have a ton of work in my other classes as well. What made me pull through is the fact that this class is more of an easy A than my others and my GPA needs any boost it can get at this point. I don't know if I would call it a tenacious attitude, but I definitely had some sort of attitude change to get through these assignments. Mostly my own anxiety contributed to this change in attitude.
3. Three tips. I think I would tell a next-semester-student to just do the assignments, don't just take the zero, most of them don't actually take up too much time they just look like they do. Also, if you really do want to be an entrepreneur, this is a great class to pick up on some tips for starting your own business so definitely pay attention to everything and apply these concepts to your business idea. You have to be very persistent and tenacious to be an entrepreneur because you're going to have a lot of set backs and you can't just give up at the first one, you have to keep pushing until you get where you want to be.
2. Tenaciousness is also about attitude. A lot of the assignments for this course were a bit confusing and time consuming and I felt like just giving up and taking the zero on most of them since I have a ton of work in my other classes as well. What made me pull through is the fact that this class is more of an easy A than my others and my GPA needs any boost it can get at this point. I don't know if I would call it a tenacious attitude, but I definitely had some sort of attitude change to get through these assignments. Mostly my own anxiety contributed to this change in attitude.
3. Three tips. I think I would tell a next-semester-student to just do the assignments, don't just take the zero, most of them don't actually take up too much time they just look like they do. Also, if you really do want to be an entrepreneur, this is a great class to pick up on some tips for starting your own business so definitely pay attention to everything and apply these concepts to your business idea. You have to be very persistent and tenacious to be an entrepreneur because you're going to have a lot of set backs and you can't just give up at the first one, you have to keep pushing until you get where you want to be.
Friday, February 15, 2019
Assignment 12: Figuring Out Buyer Behavior 1
1. The segment I chose for this assignment was the segment of price the customer is willing to pay for my product.
2. I interviewed three people about my product and this segment. One of which was a successful entrepreneur, another was a young college student and the last was an employee of a multinational company. The first told me that they thought the product was a good idea but the mechanics of actually producing and selling it was the biggest issue since it would most likely drive the price over the range I originally aimed for. The second told me that they would buy the product if it were equal to or less than the price of the rubber tires. The third told me that they would buy it if the price were very comparable to that of the rubber tires. Each also asked about the quality of the product which would be another good segment to focus on.
3. Each of my three interviewees expressed a need for this product, however, along with price they were concerned with the quality and longevity of the product. They agreed that it was a good idea but they would do some research before buying to assure the price, quality and longevity were up to par. They informed me that they would not immediately replace all of their tires with the new ones but would replace them with mine over time as the older ones became worn out.
4. The people I interviewed all said things along the lines of that when they have a problem they look for different solutions to find the best and quickest one depending on how urgent the issue is. Two of them said they look for reputable sources but one said she just puts her issue into Google and takes whatever pops up. One of them said they type full questions into Google, one said only a few key words and the other said they type a simple sentence and hit search. They all said that they will talk to friends and family to see if they have some solution that they didn't think of or that they didn't see on Google.
5. In my interviews I learned that there are aspects to the market for my product that I didn't realize before and that need to be addressed before any sort of marketing could happen.
6. There are other segments that need to be addressed before I can fully address the price segment at all. So there is a ton of information that needs to be researched before I can gather any information on this. Price is the first thing people look at when they see a product or service so the other things need to be figured out rather quickly if this were to be a startup company.
2. I interviewed three people about my product and this segment. One of which was a successful entrepreneur, another was a young college student and the last was an employee of a multinational company. The first told me that they thought the product was a good idea but the mechanics of actually producing and selling it was the biggest issue since it would most likely drive the price over the range I originally aimed for. The second told me that they would buy the product if it were equal to or less than the price of the rubber tires. The third told me that they would buy it if the price were very comparable to that of the rubber tires. Each also asked about the quality of the product which would be another good segment to focus on.
3. Each of my three interviewees expressed a need for this product, however, along with price they were concerned with the quality and longevity of the product. They agreed that it was a good idea but they would do some research before buying to assure the price, quality and longevity were up to par. They informed me that they would not immediately replace all of their tires with the new ones but would replace them with mine over time as the older ones became worn out.
4. The people I interviewed all said things along the lines of that when they have a problem they look for different solutions to find the best and quickest one depending on how urgent the issue is. Two of them said they look for reputable sources but one said she just puts her issue into Google and takes whatever pops up. One of them said they type full questions into Google, one said only a few key words and the other said they type a simple sentence and hit search. They all said that they will talk to friends and family to see if they have some solution that they didn't think of or that they didn't see on Google.
5. In my interviews I learned that there are aspects to the market for my product that I didn't realize before and that need to be addressed before any sort of marketing could happen.
6. There are other segments that need to be addressed before I can fully address the price segment at all. So there is a ton of information that needs to be researched before I can gather any information on this. Price is the first thing people look at when they see a product or service so the other things need to be figured out rather quickly if this were to be a startup company.
Assignment 11: Idea Napkin 1
1. My name is Corrine, I am a second year student here at UF. I'm in the Innovation Academy, which is why I'm in this course, I am a biology major and eventually I plan on going to medical school to be a surgeon. I am still in the process of figuring out what my talents are but I care about people and the environment so I would like to contribute some effort to the environment so people have a better quality of life. If I were to start a business like this it would play a huge role in my life.
2. I would be offering a more eco-friendly option when it comes to tires. They would be made of other compounds that have a shorter half-life than the current rubber-made tires do so that they don't sit in landfills for millions of years. This would just be a way for people to feel good about themselves since they would be doing something to help the environment.
3. It would be marketed to everyone but the customer base that I know would go for it would be people who educate themselves before buying things and really do care about the state of the planet. According to my interviews, cost would be a very big variable in this, so as long as the prices of these are comparable to the current tires then everyone who buys tires now, would have this as an option.
4. My customer base would care to buy these because they care about the problem of pollution and want to help the environment.
5. The thing that would set this apart from everyone else would be the new compounds that make up the tire itself so that it would break down quicker in a landfill than rubber does. To my knowledge, no one has attempted to make this type of tire, especially in a way that would be as cost effective as the product I'm proposing.
6. The only aspect of this that I would be concerned about would be the fact that the research and development costs of these tires would probably be pretty high, which would inflate the price of the tires overall. If I were actually serious about this as a startup business, I would have to look into this and see whether the prices could be comparable to the rubber tires, which would make or break this potential business.
2. I would be offering a more eco-friendly option when it comes to tires. They would be made of other compounds that have a shorter half-life than the current rubber-made tires do so that they don't sit in landfills for millions of years. This would just be a way for people to feel good about themselves since they would be doing something to help the environment.
3. It would be marketed to everyone but the customer base that I know would go for it would be people who educate themselves before buying things and really do care about the state of the planet. According to my interviews, cost would be a very big variable in this, so as long as the prices of these are comparable to the current tires then everyone who buys tires now, would have this as an option.
4. My customer base would care to buy these because they care about the problem of pollution and want to help the environment.
5. The thing that would set this apart from everyone else would be the new compounds that make up the tire itself so that it would break down quicker in a landfill than rubber does. To my knowledge, no one has attempted to make this type of tire, especially in a way that would be as cost effective as the product I'm proposing.
6. The only aspect of this that I would be concerned about would be the fact that the research and development costs of these tires would probably be pretty high, which would inflate the price of the tires overall. If I were actually serious about this as a startup business, I would have to look into this and see whether the prices could be comparable to the rubber tires, which would make or break this potential business.
Friday, February 8, 2019
Assignment 9: Testing the Hypothesis Part 2
Who: My market for this product is anyone who owns a car, or anything with rubber wheels on it. When I interviewed people, those in better financial situations said that they would definitely replace their rubber tires with more eco-friendly ones if the latter were proven to be safe and just as long-lasting as the others. Those who were not so financially well-off said that they would replace their rubber tires with the eco-friendly ones slowly, as the need to get new ones arose, but the price needed to be around the same range as the rubber tires were, for them to even consider investing in them. The older individuals were a bit more skeptic about the idea of a more eco-friendly tire than the younger individuals were, just because of the reliability of the new tires overall. No one said that they would not even consider buying them, the only real issues were reliability and cost effectiveness.
What: Overall, people who just need tires and aren't too worried about what kind they are, just how much they cost, will buy the cheapest ones for their car. So, the product would have to be marketed well and be as cost effective as possible.
Why: The need isn't different, people want to help the environment but there are just things that aren't possible for some people that are for others. People may want to invest in these tires but the rubber ones are cheaper and they'd rather feed their kids and keep their house rather than spend some extra money on eco-friendly tires. It just depends on where they are financially and how much these new tires would cost compared to the rubber ones.
Inside the Boundary Outside the Boundary
Who People who want to help their environment People who don't see pollution as an issue
What Being as eco-friendly as possible to reduce overall To completely eliminate pollution
pollution
Why Life on earth is threatened by pollution More cost effective
Easier to produce
What: Overall, people who just need tires and aren't too worried about what kind they are, just how much they cost, will buy the cheapest ones for their car. So, the product would have to be marketed well and be as cost effective as possible.
Why: The need isn't different, people want to help the environment but there are just things that aren't possible for some people that are for others. People may want to invest in these tires but the rubber ones are cheaper and they'd rather feed their kids and keep their house rather than spend some extra money on eco-friendly tires. It just depends on where they are financially and how much these new tires would cost compared to the rubber ones.
Inside the Boundary Outside the Boundary
Who People who want to help their environment People who don't see pollution as an issue
What Being as eco-friendly as possible to reduce overall To completely eliminate pollution
pollution
Why Life on earth is threatened by pollution More cost effective
Easier to produce
Friday, February 1, 2019
Assignment 8: Solving the Problem
My potential solution has to do with the growing problem of pollution in our communities. There are current programs targeted at this issue; like beach cleanups and programs in schools. For example, tires are mass produced and thrown into landfills when they can no longer be used. The materials in tires take millions of years to decompose so they just sit in landfills, which is an issue because this prevents other things on top of them from fully decomposing and also prevents the growth of new ecosystems. My product would target this issue by creating tires from different, more eco-friendly materials so that when they do, eventually get thrown into those landfills, they break down relatively quickly in comparison with the rubber tires we currently use. I would market this as a more environmental friendly option that, after numerous tests, is just as safe and hardy as normal, rubber tires.
Assignment 7: Testing the Hypothesis Part 1
1.
Pollution in Florida
2.
Pollution issues are killing off Floridian ecosystems
Who? Floridians and the life that is dying off because of this issue
What? Bodies of water are being polluted with these materials so the life that are inhabiting those areas die off
Why? People just don't think about the overall effects of their choices and it may be cheaper to buy a certain product that's toxic or easier to dispose of poisonous material improperly than to do it the right way.
3.
Testing the Who: I believe that everyone in Florida is affected by this issue, especially the ecosystems being disrupted and killed off by this problem. Others around the world have this problem too, to different extents but it exists in the vast majority of places around the world.
Testing the What: This problem really effects everyone, whether they see it or not.
Testing the Why: Some people probably won't immediately see the problems that arise from pollution and getting people to see and acknowledge this issue is half the battle. There are some programs to raise awareness and some that do things like beach cleanups to help ease the issue but I don't think there are enough of those.
4.
Interview 1:
For this interview, I talked to a senior in high school and she expressed how upsetting it was that older generations and big industries don't even acknowledge pollution as an issue. She told me that she is a part of the Environmental Academy at her school and she spends most of her free time at events like beach cleanups and "save the manatee" campaigns. She is an active advocate for the environment and survival of local ecosystems that are threatened by pollution.
Interview 2:
For this interview, I talked to a second year at Florida Atlantic University and he said he doesn't really think about the effects of pollution on a daily basis but he doesn't actively try to contribute to the problem. He said that he acknowledges that there is an issue but he was brought up in a household that thinks pollution isn't an issue at all so he feels like more programs and campaigns for this issue would be beneficial in educating the older generations about how serious pollution is.
Interview 3:
For this interview, I talked to a businessman in West Palm and he told me that he actively looks for opportunities to help advocate for this issue and pitch in to whatever cleanup he can. He also said that his family and friends are very similar to him, in that they all acknowledge and try to help reduce pollution in the environment. Later in the interview, he mentioned that he has organized environmental awareness events and some cleanups himself.
Interview 4:
For this interview, I talked to a lawyer and she told me that she believes pollution is definitely a problem and that it's completely preventable if more people acknowledged it as an issue with an intent to solve it. She said that she believes that more people need to be educated about this issue and that she has faith that the upcoming generations will be able to solve this, since they are more environmentally aware than the older generations. She mentioned that she is too busy to be able to attend events but she recycles and walks to work.
Interview 5:
For this interview, I talked to my retired neighbor and she told me that she believed that pollution is a problem for the younger generations. She expressed that it may or may not be an issue but even if she were to consider it an issue, that it wasn't her problem to save the planet since she'll be leaving it soon. She also said that there really isn't very much she can do to help even if she wanted to, so she just goes about her daily life taking each day as if it were her last.
5.
The interviews, overall, showed me that the majority of people do consider pollution to be an issue and that it is definitely possible to find solutions. I was happy to see that most of them acknowledge it and at least try to reduce their contribution to the problem. Some of them do go out of their way to spread awareness and clean some of the pollutants up that they notice in their communities. The younger generations tend to have more time to be able to contribute their time to the events while the others had careers and families to focus on so they would just do what they could in their everyday life. This shows me that we need to work harder to spread awareness and make environmental cleanups the new societal norms.
Pollution in Florida
2.
Pollution issues are killing off Floridian ecosystems
Who? Floridians and the life that is dying off because of this issue
What? Bodies of water are being polluted with these materials so the life that are inhabiting those areas die off
Why? People just don't think about the overall effects of their choices and it may be cheaper to buy a certain product that's toxic or easier to dispose of poisonous material improperly than to do it the right way.
3.
Testing the Who: I believe that everyone in Florida is affected by this issue, especially the ecosystems being disrupted and killed off by this problem. Others around the world have this problem too, to different extents but it exists in the vast majority of places around the world.
Testing the What: This problem really effects everyone, whether they see it or not.
Testing the Why: Some people probably won't immediately see the problems that arise from pollution and getting people to see and acknowledge this issue is half the battle. There are some programs to raise awareness and some that do things like beach cleanups to help ease the issue but I don't think there are enough of those.
4.
Interview 1:
For this interview, I talked to a senior in high school and she expressed how upsetting it was that older generations and big industries don't even acknowledge pollution as an issue. She told me that she is a part of the Environmental Academy at her school and she spends most of her free time at events like beach cleanups and "save the manatee" campaigns. She is an active advocate for the environment and survival of local ecosystems that are threatened by pollution.
Interview 2:
For this interview, I talked to a second year at Florida Atlantic University and he said he doesn't really think about the effects of pollution on a daily basis but he doesn't actively try to contribute to the problem. He said that he acknowledges that there is an issue but he was brought up in a household that thinks pollution isn't an issue at all so he feels like more programs and campaigns for this issue would be beneficial in educating the older generations about how serious pollution is.
Interview 3:
For this interview, I talked to a businessman in West Palm and he told me that he actively looks for opportunities to help advocate for this issue and pitch in to whatever cleanup he can. He also said that his family and friends are very similar to him, in that they all acknowledge and try to help reduce pollution in the environment. Later in the interview, he mentioned that he has organized environmental awareness events and some cleanups himself.
Interview 4:
For this interview, I talked to a lawyer and she told me that she believes pollution is definitely a problem and that it's completely preventable if more people acknowledged it as an issue with an intent to solve it. She said that she believes that more people need to be educated about this issue and that she has faith that the upcoming generations will be able to solve this, since they are more environmentally aware than the older generations. She mentioned that she is too busy to be able to attend events but she recycles and walks to work.
Interview 5:
For this interview, I talked to my retired neighbor and she told me that she believed that pollution is a problem for the younger generations. She expressed that it may or may not be an issue but even if she were to consider it an issue, that it wasn't her problem to save the planet since she'll be leaving it soon. She also said that there really isn't very much she can do to help even if she wanted to, so she just goes about her daily life taking each day as if it were her last.
5.
The interviews, overall, showed me that the majority of people do consider pollution to be an issue and that it is definitely possible to find solutions. I was happy to see that most of them acknowledge it and at least try to reduce their contribution to the problem. Some of them do go out of their way to spread awareness and clean some of the pollutants up that they notice in their communities. The younger generations tend to have more time to be able to contribute their time to the events while the others had careers and families to focus on so they would just do what they could in their everyday life. This shows me that we need to work harder to spread awareness and make environmental cleanups the new societal norms.
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