Figuring Out Buyer Behavior No. 2 15A

Interviews: Out of the three people I interviewed two of them said that their top priority for a product like this is style and they way it looks. Things such as color and design are what attracts them to these items. On the other hand, the other person said their top priority is price, as they will not over pay for this type of product. All three said quality is also of importance because if the product does not work the way it is put out to, then they will not buy it. Two people also mentioned brand name is important because they "know what they are getting". All three interviewees said that a product of this type is pointless to go into a store looking for and that thy would buy it online using a debit or credit card. One person said they evaluate the "rightness" of their purchase based on how often they used the product. If it is good and works well and they use it a lot. Another person said they base it off how well it works and if it lives up to what it says it provides. The last person said they base it off how much they use it, but also if it looks unique compared to others they see around. What they would use to determine if the purchase was bad would be if the product doesn't work the way it says it can, they don't use it a lot because it is similar to others and may get it mixed up, or if they find other alternatives for a lower price.

Conclusion: What I learned from these interviews is that when it comes to filter water bottles, the style plays a big role because it should stand out and it should not be able to get mixed up often. Another factor is price, it should be a reasonable price compared to others in the market and obviously quality, so if it says you can pick up ground water and make it clean with .01 infiltration then that is what they expect. Lastly, they expect to use it often, so it should be a product that is durable and can last long.

Halfway Reflection 14A

1.)  What I have done to stay on top of this class is to watch the lectures the day they come out so that I do not fall behind and I stay up to date with what we are learning. I also set a reminder on my phone  to make sure I complete all the assignments on time. Also, I look through the assignments and what they require way in advance so I can think of ideas for the assignment.

2.) These assignments are due on Friday nights so sometimes it is hard to want to finish an assignment when your friends are going out and everything but when it is all said and done, I know this class is important in terms of learning about how to sell products and improving creativity.

3.) Tips:

• Know that what you learn may play a huge role later in life
• Really challenge yourself in terms of wanting to learn and writing good blogs
• Have fun with this class, as it supports thinking outside the box

Figuring Out Buyer Behavior No. 1 12A

Segment: I would like to start by researching people of young age, anywhere from 18-26 whom either play sports or enjoy other outdoor activities such as hiking and camping.

After conducting my three interviews, which consisted of two former athletes and another who just enjoys outdoor activities and exercise all between the ages of 18-26, it it clear when the need "pops out".  The need wasn't necessarily clean water because anyone ca just go and buy water bottles, but it is the idea that at any time or place, and there is no clean water, if you have this product, you can obtain healthy, fresh water. They all said that the need comes in to play when they either had forgotten to bring water to practice, or wherever they were practicing didn't have any fountains. The other interviewee answered from his point which is hiking, and when maybe he didn't bring enough water, or it is so hot that his water was no longer cold, it would be nice to just carry this matter bottle and be able to scoop it up straight from a stream or river. They all said that the need can exist anywhere, from your home, to a local park, to a mountain, a lake, basically anywhere. It is such  universal product in that it can be used to just obtain clean drinking water wherever you are at.

All three had similar responses to when they become aware of the need, they will typically ask a friend or simply search for a nearby water fountain. The problem is, sometimes friends don't want to share, or maybe that could lead to them running out of water themselves, and not everywhere you go has water fountains. When they search for water bottles on googles, they all said the same thing, and that is that they see the typical water bottle that just carries water, maybe the find a filtration bottle here and there, but nothing that promises .01 filtration and certainly nothing they feel comfortable with picking up water from the ground. They all said they have never really talked to friends or family about it because it isn't something need to have to live, but that it would definitely be beneficial to all of their activities.

Overall, the need awareness is exactly what I thought it would be for this segment. At a young age, it is easy to maybe forget to bring a water or just share with a friend. The point though was that people in this age segment are typically the most active, and so this would one of the bigger audiences I would try and market to. Their answers have reflected what i have said in the past regarding how universal the product is and how it can be used for almost any specific reason at any time.

Idea Napkin No. 1 11A

1.) My name is Nick Stelacone and I am entering my 3rd year at the University of Florida. I am a sports management major with a minor in business administration. I am also a member of the fraternity Pi Kappa Phi. My strengths are that I am personable and relatable and that I have experience in many different fields. I have worked in the restaurant industry as well as the landscaping industry, which is extremely hard work. My aspirations are to work in the sports field in some way, and the idea of a cheap, portable brita water bottle that can use ground water would be perfect for sports and other recreation activities. This idea could play a minor role in my life because I don't exactly plan on inventing any products, but at the same time, if it happened I could make money to help pay off college and even use it to make innovations to that product.

2.) The product I would be selling would be a cheap, portable water filter bottle that can take water from the ground and make it purified water with .01 infiltration. This product would then be perfect to just leave in the car and if you forget a water for a sports practice, you have that and you know that whatever water you use to fill it, you won't have to worry about it not being safe or harmful. It would also be nice to have this item when performing other activities such as hiking or camping and you can find a river or stream and use water straight from there.

3.) The ideal customer would be of any age and would pertain to people who are involved in sports or other outdoor activities such as hiking and camping. It is basically perfect for anyone who is interested in performing outdoor activities and may ever be out of water or forget water, and they can use this item to hydrate.

4.) People will pay to use this product because it is unique in that anyone can use it, from filling it up at a school water fountain because they think that the school water is gross, to people who go camping and will need fresh water while outside. All you have to do is find any source of water and fill up the bottle and it will only have .01 infiltration and will allow the customer the relief that they know they are drinking healthy and fresh water from any source.

5.) What sets this product apart is the infiltration is .01. That is unheard of even at in-home britas, so the idea that they can use any water source to fill the bottle and it be healthy and fresh is automatically a plus.

I believe that there is a market for this product and that these elements do match up for the most part, but I believe the weaker concepts are the "why will people buy this" and "what sets this product apart". This does not mean people won't buy it, it just means I will need to find and describe other details about it to entice others to buy it. It could be something as simple as a design to maybe a price that is cheaper than the competitors. And what sets it apart will have to be something other than the filtration. The other aspects of it, do create a market and appeal to a certain group of people.

Testing The Hypothesis, Part 2 9A

To further determine the "inside" and "outside" of the boundary, I interviewed a couple student athletes and a few neighbors, one in which had children who currently play youth sports. I summarize their responses in the who, what and why below.

Opportunity: Should student athletes be paid?

Who: The criteria I used to determine if the people are "inside" or "outside" is how involved they are in sports and even better collegiate sports. The two that I interviewed that were current student athletes would obviously be inside. The two neighbors that do not have kids would obviously be outside and the neighbor with kids in the youth sports would be considered outside, even though they share a lot in common with the sports world.

What: When I consider the people inside the boundary and outside the boundary, they share different needs from each other and that is where the line is drawn. The thing is with this topic, everyone has their own opinion, and whether they are involved in sports or not, plays a major role. While that is the case, participation in sports ultimately does not determine their opinion, as proven with my interviews, one of the neighbors with no relevancy to sports said they should be paid. While a student athlete himself, said that it is not necessary to pay athletes because they already have other benefits.

Why: The needs of the insiders and outsiders is very different. They both have different opinions, yet at the same time, their opinions could be very similar. I believe that participation in sports certainly affects their opinions, but does not ultimately determine their opinion.


Inside The Boundary                                                   Outside The Boundary
Participation in sports, family in sports                         Non-athletes, no family inspirits

Paying student athletes in college                                  Continue with not paying student athletes

Athletes feel they bring in the most revenue                  College sports is a job and they should be paid
to school and should be rewarded

Solving The Problem 8A

I believe there is currently an opportunity for me to start selling life insurance in Calvert County, MD. It is actually already in the process, as a group of hometown friends and I get started, we are being given a budget to open an office in Calvert County. It is more than just life insurance, it extends to other things such as 401K, investments, and etc. We found out this opportunity through referrals within the company in a different county, but there was no office opened in that area. So that is where we come in, when the office is opened, we will be able to provide all of those services to people in that area that are in need of those particular benefits.

Testing the Hypothesis, Part 1 7A

1.) College athletes being paid

2.) The opportunity I am exploring is the idea that college athletes should get paid for all the revenue they bring in to their respective schools and that their lifestyle is more towards sports than school anyway

• The Who: College athletes and colleges
• The What: Getting paid for the revenue they bring in to their schools
• The Why: Athletes bring in the most money for their schools, and the work they do for sports all while keeping up with school is extremely demanding

3.) Testing 

• The Who: There are many other who have this need, basically everyone in 'the who' share this need because all college athletes know the work they put in for their sports all while trying to keep up in school
• The What: I think all college athletes want to get paid for the way they bring in money to their schools, and that goes for mostly all schools. Athletics brings in the most money, like for example UF football brings in millions and millions and the players don't get paid any of it, while the school just profits off all their hard work, although the players are attending the university for free. 
• The Why: There are two sides to the why, many people believe the players do deserved to get paid because why free education is nice, they bring in millions of dollars and should get some sort of compensation. On the other hand, many others think that getting a free college education is easily enough for them, along with all the free gear and other benefits they receive. 

4.) Interview summary

What I have found from performing these interviews is that there is more to it than just college athletes and the colleges that are affected. Others affected are professors, who are paid from the money the colleges make, also affected are other students, because they will be given less money for scholarships and those who are in need, while other students pay full price and are given zero benefits. Considering the what, it really is a mix of opinions, as a couple people i interviewed thought that paying players was a necessity because it will only bring in more revenue. With high powered programs such as UF, they can offer their recruits more money to play than other schools and will result in a better program and ultimately even more sales. On the other hand, I found that the other three interviewees were not interested in paying the players because they already get enough as it is. They believed that a free college education was enough to already go along with their free gear and all the extra free benefits along with the publicity they receive and college training they get so they can go professional. Continuing with they why, I found that there is no way to justify a clear decision, and that no matter what, there will be controversy. A couple people mentioned that it could lead to players abusing their benefits and creating more havoc.

5.) After conducting the interviews, I have found that the opportunity affects more than just the players and colleges, and that it affects the whole surrounding community of people and other students. I also figure before that there would be no clear, definite answer, and that strengthened my belief, that no matter the result, there will always be disputes and controversy. This has been a topic for years now, and I expect it to only get more publicity over the years, and will be looking forward to a decision in the future, and the reactions of both parties.

Identifying Opportunities in Economic & Regulatory Trends 6A

Economic:

1.) The Next Industrial Revolution Is Rising In Japan

a.) https://www.forbes.com/sites/japan/2018/05/21/the-next-industrial-revolution-is-rising-in-japan/#19b009353034
b.) With all the increase in technology over the years, it is very possible. Everyone has phone nowadays, even elementary school kids are walking around with iPhones, and with the the future looking even more technological, it is very easy to see how this may exist.
c.) The prototypical customer would be anyone with technology. With everything being technological already, most people would already be prepared for this.
d.) I think it would be very easy to exploit because science and technology are in everybody lives so you don't have to create a market for it, it is already there.

I saw this as an opportunity because I use technology everyday from my computer, to phone to T.V. and with Japan rising in science and technology, I have always been interested in seeing how far technology can take us.

2.) The Unemployment Rate in the U.S. Just Hit an 18-Year Low

a.) http://time.com/5298560/us-gains-jobs-unemployment-low/
b.) I believe an opportunity exists because people are motivated to get a job right now. With unemployment at an 18-year low, people need work to make money and the only way to create more work is to create an opportunity.
c.) The most likely to be a customer is anyone in need of a job. With the rest of the population finding jobs for money, the market for material good will increase as people will more money to buy things, leading to others in need.
d.) The opportunity is relatively easy to exploit because in todays society, you need a job to be able to survive, so with the unemployment decreasing, other goods will become more expensive, so when they need goods, they will realize they need a job to pay for it.

I saw this as an opportunity because I am currently out searching for a job, and with both my parents working hard to be successful I know how important it is that everyone works for what they want and deserve.

Regulatory:

1.) Billionaire Couple Promises $20 Million To Fund Gun Violence Research

a.) https://www.forbes.com/sites/luisakroll/2018/06/01/billionaire-couple-promises-20-million-to-fund-gun-violence-research/#303f681e4279
b.) The opportunity exists because with all the gun violence going on and all the school shootings, there is clearly an opportunity for this money to make an impact.
c.) The customer of this would be any kind of  psychiatrist or research department and also people against gun violence. This will be used to potentially regulate guns in the future.
d.) The opportunity will be relatively hard to exploit because there is so much controversy going on around the topic but with $20 million donated towards it, it can definitely have an impact.

I saw this as an opportunity because with all the gun violence going on, it is clearly a topic of interest to everyone at the moment but for me specifically because with my little brother in high school, I would be devastated to see it happen to his school.

2.)  The Largest U.S. Banks Shouldn't Expect Much Regulatory Relief Anytime Soon

a.) https://www.forbes.com/sites/greatspeculations/2018/05/31/the-largest-u-s-banks-shouldnt-expect-much-regulatory-relief-anytime-soon/#c2176f03c0db
b.) The opportunity exists because everyone is apart of a bank, and when banks are allowed to use all their money, they make themselves billions and billions but when they are regulated, they are restricted on how much they can do.
c.) The prototypical customer is anyone that uses a bank and anyone that uses banks to make more money
d.) The opportunity is relatively hard to exploit because it is hard to find enough power to complete with banks because they literally control all money flow.

I saw this as an opportunity because I have opened a couple bank accounts over the past few years and I know how important the bank is in terms of money flow and the economy.

Identifying Local Opportunities 5A

1.) Grown Hillsmere diamondback terrapins released back into the wild

• http://www.capitalgazette.com/news/schools/ac-cn-hillsmere-terrapins-released-0601-story.html
• Hillsmere elementary students were given these turtles last fall and raised them. They take these baby turtles out of risky areas near the Chesapeake bay, and give the turtles safety and the kids learn about the bay. Now all grown up, they release the turtles back into nature.
• The problem is that it is crab season in Maryland and often times crabbers will catch turtles in their crab pots and the turtles drown. Not only that, but if these turtles are to lay eggs, there is a good chance a predator will come in and eat them.
• This problem concerns obviously the turtles because they can easily be attacked or wind up in a fish net and drown, but it also affects the people who have crab pots because they don't want to catch turtles, and often times the find a crab in their pot.

2.) Jimmy DeButts: Crossed fingers not enough to protect Annapolis against sea threat

• http://www.capitalgazette.com/opinion/ac-cm-debutts-column-0603-story.html
• Ellicott city was recently undergoing the second flooding in the past two years and it sent Annapolis into worry because if another Hurricane Isabel came, the same thing that happened to Ellicott city would happen to Annapolis. Annapolis plans to spend $10 million to help prevent water going up the pipes and causing a flood.
• The problem is that Annapolis Historic District is right on the water and is right near the Naval Academy, along with all the other businesses right on the water. If another bad hurricane Hurricane were to hit, Annapolis would be under water just like back in 2003 when Hurricane Isabel hit.
• The people who have this problem are the ones who live near the area, all Naval Academy students and all the businesses that are right there on the water.

3.) Maryland weather: Flooding threats diminished, for now — but more rain still in forecast through Sunday

• http://www.baltimoresun.com/news/weather/weather-blog/bs-md-rain-forecast-20180601-story.html#nt=oft13a-3gp1
• The month of May recorded 8 inches of rain at BWI Airport. This is a problem in the Ellicott City area, as they are never use to so much rain. There was a flash flood warning last weekend, and they are expecting to get more rain this weekend which will cause even more tragedy. 
• The problem is that Ellicott City is not used to getting so much rain and last weekend there was rain all down the streets, moving cars and causing so much damage. But its not getting better, with more rain expected this weekend.
• The people affected by this are all the owners of owns or businesses in Ellicott City as they were unable to leave their homes last weekend, and may be in for the same this weekend, as well as all the damage to their vehicles.

4.) Accused Shoplifters Pull Knife On Walmart Employees: Police

• https://patch.com/maryland/annearundel/accused-shoplifters-pull-knife-walmart-employees-police
• Walmart employees tried to stop two people from leaving the store with stuff they did not pay for. The two then pulled out knives and ran away.
• The problem is that there really isn't too much violence in the Annapolis area, and when something like this happens, its pretty alarming. Along with that, both accused shoplifters were of African American decent, so that could also arise some problems just because of their skin color.
• The people affected by this are the people in the area who spot at that Walmart, the owners and managers of that Walmart and the employees. When that happens, they are sure to lose some business.

5.) Annapolis officers deny beating, using racial slurs in wrongful detainment suit

• http://www.capitalgazette.com/news/for_the_record/ac-cn-towhee-sparrow-trial-201800601-story.html
• Towhee Sparrow was arrested and claims he was beaten by the officers and they also used racial slurs towards him. The Sgt officer claims he never saw any unjust doing and didn't hear any racial slur.
• The problem is that if the officer is lying to defend his officers and even his job, then he is being unjust towards the defendant and that this could lead to further unjust acts by the officers who did it. They will have the mentality that because they got away with it, they can keep doing it.
• The problem affects any person of African American decent because then they will fear the police officers in the area, and will not feel safe around them. It could also lead to more acts like this towards African American people in the area.