Assignment 15A

I interviewed three wealthy home-owners. I got a bit of mixed feedback from the three. I asked questions like “what would make you happy with this purchase?”, “what would be an alternative to this purchase?”, and “where would you go to look for something like this product?”, and “is it something you would consider and what important factors would lead to your decision to buy?”. The following is a summarized version of my feedback.

After interviewing three individuals from the segment I feel my product can best address I have figured out that there are multiple factors that influence the decision of the consumer to become a customer. Since the segment I am targeting is high class style and luxury is extremely important to them, the harmony the product would cause within their home is super important to most homeowners. Price also plays a factor but not a defining one as long as the product isn’t massively overpriced in comparison to its alternatives. The alternatives that I discovered within my consumer segment would be possibly buying these details, like an automatic recycling garbage or a automatic composting can separately and then integrating them as they wish or just getting a regular smart home not a smart home that is environmentally friendly. Another alternative if being green is important to them would just be to live a more conscious lifestyle but this alternative holds the higher opportunity cost because it would require massive amounts of attention to detail, change of habits, and overall time for the consumer.

There really is no place in particular where they would buy this type of service other than possibly looking up on google a company that would do this or sell this type of products, because they are unconventional and then going from their with their search, as previously stated. It is more likely that my segment would finance the purchase since completely renovating your home into a smart house is a costly endeavor.

What helps my segment determine if it was a good purchase or not will be the ease with which they’ll live their life and the new luxury their home will provide. Also I plan on implementing a command panel within the house that will tell them every day how much energy they have saved, how much their carbon footprint has been minimized, and how much they have saved money wise on both.