Assignment 12: Figuring out Buyer Behavior No.1

Picking a Segment

The segment that I am choosing is going to be the gym goers between the ages of 17-30 years old. I find that this is around the age where people who really go to the gym are trying to get bigger and focus on getting as much calories in their diet as possible. Therefore, my product would be a perfect fit for this segment.

What I learned from the Interviews

1. Interview with Joe: Joe expected the need every day and throughout the day. Joe, however, does not experience the need over the weekend because he doesn't have classes or much to do on the weekends so he eats frequently. He only seemed to need a snack in between meals because that's when he felt most hungry. Joe experiences the need while going to college because when he's home, his family usually has the house stocked with snacks. Joe would normally go to the store to purchase snacks rather than search on the internet or make them himself.
2. Interview with Oliver: Oliver expected his need only on the week days where he has to go to his job. Oliver described that he would start to feel hungry because he wouldn't eat a lot during breakfast or lunch, causing him to need some sort of snack to eat. Oliver normally experiences the need to eat snacks during work hours where he is unable to make a healthy snack for himself. When he experiences the need, Oliver normally gets something from the vending machine that's at work because its easy and quickly accessible. 
3. Interview with Drew: Drew, just like the others interviewed, said that he normally experiences the need during work because he doesn't have time to leave work and come back. Drew often needs a snack in between his meals because he normally eats a little during breakfast, lunch, and dinner. He also says that he needs some kind of fuel for when he's done boxing. Drew experiences the need for a snack sometimes between meals at work but mostly at home after he's done boxing. Drew would often go out and purchase his healthy snacks at the local grocery store; however, he was the first customer I sold my product to and really liked them.  

Conclusion on Segment

What I can draw about the segment that I've interviewed is that they primarily experience the need for a healthy snack over week days because they don't have the time to make their own to take with them to either work or campus. The average gym goer needs the snacks in between meals because they don't a lot during breakfast, lunch, and dinner. They also need some kind of healthy snack to fuel the muscle fibers that they strained while working out. I would say that this segment experiences the need while at their jobs or classes. The first thing that this segment does to satisfy their hunger is to either locate a vending machine, have a pre-bought snack from the grocery store, or make up for it on their next major meal. 

Assignment 11: Idea Napkin No.1

You...

I am Austin Abramczyk and I am from Boynton Beach, Florida. My talents include being able to persuade others and being able to budget money effectively. I have background in the fitness industry working for a vendor who sells supplements through Amazon. My aspirations are to become a future firefighter in Fort Lauderdale after I finish my four years at the University of Florida. I see this business as being a part time thing in my life because the product is very labor intensive and everything is made by hand.

What are you offering to customers?...

I am offering a product that saves those who make their own snacks time and effort by creating a healthy, homemade snack that fulfills the necessary nutrients an individual needs throughout the day. My product ultimately allows the customer to not have to worry about making their own snacks, or pay for snacks at the store. The product has natural ingredients that allows the customer to be comfortable with what they are eating.

Who are you offering it to?...

Currently, the demographic is the population in Boynton Beach in the age ranges of 15-50 years old. The main individuals that the product is being made for is the everyday gym goer, health nuts, and those with outdoor jobs.

Why do they care?...

Customers will pay for my product because it'll save them time and effort of making their own snacks. A big problem that people face in their day-to-day lives is finding the time to fit extra variable within their schedules. People are too focused on their jobs, working out, making dinner at night, and caring for their children. People just don't have the time to make their own healthy snacks. Also, people don't want to go through the hassle of buying the supplies just to have it sit in their cabinet for ages because they don't have the time to utilize the ingredients to make the healthy, homemade snacks that they find online.

What are your core competencies?...

What sets me apart from everyone else is that people do make these snacks, but nobody has made them to sell. Instead of giving people the recipe to make the snacks, I'm allowing people to pay for me to make the snacks on my own time that way they don't have to waste their time. The thing that I have that nobody else has is time on my hands. I am currently a student and I am only busy for maybe a quarter of the day, leaving the rest of the day for free time.

Evaluation...

I believe that everything ties together in the five elements that I listed. However, the only thing that doesn't really fit is the location that I chose to sell the product. I'm trying to market my product in my hometown of Boynton Beach, but I'm in Gainesville for a majority of my schooling. What's good about my five elements is that my experiences in the fitness industry allows me to connect with the gym goers and health nuts described in my ideal customer demographic. Knowing a lot of people who work out, I know that people who go to the gym don't necessarily have time to make healthy snacks at home. Therefore, this product is perfect for these individuals. Plus, knowing that people normally just share recipes instead of selling them, I won't have very much competition. The only real thing that I need to worry about is the amount of orders I receive at once because of them being made by hand and calculating a reasonable price that benefits both me and the price sensitive customers. 

Assignment 10: Elevator Pitch No.1

Elevator Pitch

Same Video but from Youtube:

Assignment 9: Testing the Hypothesis Part 2

Testing the Hypothesis Part 2

Who: The following are conclusions based on the interviews I conducted with five new individuals who essentially have the need but are already supplementing it with another form:

• Interview 1: I found that some people don't need snacks to supplement calorie deficiency because they would make up for it by eating a heavy amount of calories during breakfast, lunch, and dinner. 
• Interview 2: I found that some people would do a calorie deficit because they wanted to lose weight. They assumed that by burning more calories than they're consuming effectively helps them lose weight.
• Interview 3: In my third interview, I found that people do need that extra snack in between meals to ensure that people get their needed calories; however, instead of snacks they would replace them with protein shakes. I found these individuals to be outside the boundaries of my market.
• Interview 4: In interview four, I found a new market, mothers. Mothers usually supply their kids with protein or granola bars for when they go to school. My product would be a perfect supplement to replace the store bought granola bars and protein bars. 
• Interview 5: I received the same new information that I got from interview one.  

What: The what of my opportunity is not to supply an in-store, mass marketed snack, but to supply those who want a homemade solution to making their own snacks.

Why: I want to supply this product to save people from the time and hassle of making healthy snacks at home.

Inside the Boundary	Outside the Boundary
Who is in: Gym Goers, Outside Workers, “Health nuts”, and Mothers	Who is out: Those without calories deficits, those who eat 3 large meals a day, those trying to have calorie deficit, those with peanut allergies.
What the need is: An alternative to making your own healthy, homemade snacks	What the need is not: A snack that’ll solve your weight problems being coined as “healthy”.
Why the need exists: For people who don’t want to go through the hassle and time to make their own form of healthy snacks.	Alternative explanations: A healthy snack to eat between meals.

  

Assignment 8: Solving the Problem

Solving the Problem

Before this class, I've always had a passion for the fitness industry. So much passion that my first job was working for my buddy's supplement company. Through that job, I have learned much about supplements, personal health, and ways to ensure that I'm getting the right mix of foods in my diet. However, the main problem I would have through many years was that I was having trouble getting the necessary calories to fuel the progress of gains I wanted to achieve as a result of going to the gym. I've tried to search the internet for different recipes for homemade snacks but found nothing that intrigued me. Plus, how was I sure I was going to enjoy the recipe that may have intrigued me? That's when it hit me. I remembered a time back when I first started bootcamp, maybe 6 years ago, this lady would bring these little balls of peanut butter and other things that I couldn't remember and tasted amazing. Using that experience as inspiration, I decided to experiment with different ingredients and came up with a product I like to call "Bulk Bites." I made them with natural ingredients of only oats, peanut butter, honey, protein powder, and raisins. Excited with what I made, I had other people try them. Everyone loved them and told me I should try and sell them. So here I am. I found an opportunity where people had the same problem as me. People were lifting and lifting, but haven't had something to supply to those gains to keep them. They would buy protein shakes, protein bars, and "health" bars, but that would cost too much money. On average, the price for a good protein bar might be 2-3 dollars per bar. However, I would be able to sell Bulk Bites for around a dollar a Bite for around the same benefit. Additionally, people don't want to go through the hassle and take the time to make healthy snacks to eat throughout the day. That's where I come in. I would sacrifice my time to make these Bulk Bites by the batch and sell them by the batch. This saves both me and the customer time, and allows the customer to have about a week and a half supply worth of Bulk Bites. Furthermore, these don't just have to be for people who work out, but they can also be for people who need a quick, healthy snack that they can just pop into their mouth and be good for about 2 hours. So far, I've sold 3 batches and double my money every two batches. Hoping for that five stars on Yelp.  

Assignment 7: Testing the Hypothesis, Part 1

(1) Opportunity
Gym goers in the US are unable to consume the needed calories on a day-to-day basis to fuel their gains because they don't have the time and effort to make themselves a healthy, homemade snack to consume throughout the day. 

(2) Who, What, Why
The Who: Gym goers in the US
The What: They are unable to consume the needed calories on a day-to-day basis to fuel their gains
The Why: They don't have the time and effort to make themselves a healthy, homemade snack to consume throughout the day.

(3) Hypothesis
Testing the Who: Not only do gym goers have the need, but also college students, auto collision workers, 9-5 workers, athletes, and kids.

Testing the What: The boundaries of the need include the people who consume the product. Consumers may have different allergies that may prevent them from consuming some snacks. Another boundary may be for athletes where they are usually sticking to a specific diet.

Testing the Why: I believe that most of the people I identified in my who have the "why" where they don't have the time and/or effort to make themselves a healthy, homemade snack to ensure that they supply their body with the needed calories on a day-to-day basis. The only exception may be for college students who just may not have the effort, while other college students may just not have enough time in the day.

(4) Interviews
Interview 1: Jake
Who do you think has the problem with calorie deficiency?
I think that a lot of people aren't getting the amount of calories needed throughout the day. People that I find to be having this problem would have to be gym goers. They don't seem to be getting the necessary calories to feed their progress.
What do you think is stopping people from making healthy snacks?
I don't think some people have the time to be making their own snacks in the morning because of their schedule. Me, as a college student, don't have the time in the mornings or throughout the day because I am busy with going to classes, studying, and going to the gym.
Why do you think people have the problem with making healthy homemade snacks?
Like I said in the previous question, I just don't have the time to be making my own snacks. I would much rather buy my own snacks from stores who have protein bars and such. If I had time to make my own snacks, I would but I currently just don't have the time to do so.

Interview 2: Geo
Who do you think has the problem with calorie deficiency?
By far people who go to the gym and athletes. They need these calories to fuel the gains.
What do you think is stopping people from getting the necessary calories?
I think whats stopping people from getting the necessary calories is that people don't like what is on the market right now so want to make their own snacks that they can consume throughout the day. Plus, the protein bars that are in stores are expensive to keep buying because of the cost for each singular bar. Also, you don't know what you're actually putting into your body when you consume them. I much rather would make my own if I had the time.
Why do you think people have the problem with making healthy homemade snacks?
I think that the main reason people have the problem with making their own snacks is that they don't really have the time. For me, I just don't have the time. I have a 9-5 job that I can't really find time to go through the hassle of making my own healthy snacks.

Interview 3: Carol
Who do you think has the problem with calorie deficiency?
I don't really have a calorie deficiency by accident but rather on purpose because I want my body to burn more calories than I'm consuming to lose weight. However, I think that some other people that may have the problem would be office workers.
What do you think is stopping people from getting the necessary calories?
People would much rather buy their granola bars and such at grocery stores. For me, I normally purchase Fiber One bars at Target because they taste good and they get the job done. But I do think it's hard for some others because they have allergies where they may be allergic to peanuts and such. This limits the selection of snacks that they can buy and consume from the grocery store.
Why do you think people have the problem with making healthy homemade snacks?
I think what's stopping people from making homemade snacks is that they may not know how to make them. There's definitely a bunch of recipes online but, I don't think that people want to go through the hassle of making it themselves. Plus, for most people the first batch doesn't normally come out good so they just end up giving up on making them.

Interview 4: Beau
Who do you think has the problem with calorie deficiency?
I think people who work outside jobs are the most calorie deficient because they burn more than they're able to consume. In Florida, the heat is terrible because of the humidity and the direct sunlight. Not even the shade can really save you. But I work in collision so I'm always outside.
What do you think is stopping people from getting the necessary calories?
I think people just make a shake or get healthy snacks from the grocery store. My go to is usually a 2000 calorie health shake that I make in the morning to help ensure that I'm getting sufficient calories every day. But these shakes aren't always the greatest things because they have a very thick consistency and they don't always taste good.
Why do you think people have the problem with making healthy homemade snacks?
I think people are lazy and they don't want to go through the hassle of making their own stuff. After working all day in the sun, its hard for me to muster up the energy to even work out at the end of the day. Plus, my job as an auto collision worker, I have to be at my job at 8:00 to work. 

Interview 5: Mike
Who do you think has the problem with calorie deficiency?
I think that people who work outside are the most deficient on calories. The sun drains the energy from their bodies and causes them to sweat. But I can see people in the gym who want to get bigger to have the same problem as well because you usually want something that you can easily pop in your mouth after a workout to make sure your body is getting the necessary carbs.
What do you think is stopping people from getting the necessary calories?
I think what's stopping people from getting the necessary calories is the way people function. Some people are just used to going just three meals a day where they aren't hungry in between meals. Snacks really aren't an issue for them so they can survive without it.
Why do you think people have the problem with making healthy homemade snacks?
I don't think people want to go through the effort of making homemade snacks, and they don't want to go through buying the needed supplies to do a recipe they found online that they'll use only once.

(5) Summary of Interviews
Overall, I believe that I was nearly spot on on what the opportunity called for. I knew that people who were in college, 9-5 workers, and auto collision workers had calorie deficiency; however, many brought up external workers which encompasses more than just auto collision workers. I learned that some people made shakes in place of snacks to ease their hunger and get their calorie number up. Mostly the ones I talked to who went to the gym claimed to be taking protein shakes rather than the grocery store bought snacks while those who didn't always go to the gym bought mostly protein bars and health bars. I found out that people do try and make their own, but they normally do it maybe once or twice before they give up doing it.

Assignment 6: Identifying Opportunities in Economic and Regulatory Trends

Economic Trends

Solar and Wind Power Too Cheap for Subsidies

https://www.bloomberg.com/news/features/2019-09-19/solar-and-wind-power-so-cheap-they-re-outgrowing-subsidies

(a)  In a growing society that puts an importance on renewable energy, I thought that there might be some kind of changes in the renewable energy industry.

(b)  What leads me to believe that there is an opportunity is that the decreasing prices of solar and wind make it easier to sell to consumers. Plus, the decreasing value and the "green" value will be highly attractive to those who both care about the environment without breaking the bank. Because of the drop in prices of solar and wind, the government won't have to put aside money to start-up new plants. This price drop makes it cheaper to get into business selling solar and wind power to consumers.

(c)  I believe the prototypical customer to the opportunity might be home owners, small business owners, large corporations.

(d)  The opportunity would be hard to exploit because the price may influence customers to just purchase their own rig of solar panels.

Why did you see the opportunity?

I've always been a fan of renewable energy. The old house I used to live in had solar panels on the roof that would supply power to some of the house. I remember them being very expensive so, when I saw that they were decreasing in pricing I thought that there might be an opportunity in the making.

Oil Prices on the Rise as a Result of Iran's War Warning

 https://www.bloomberg.com/news/articles/2019-09-20/oil-s-rising-again-as-iran-s-warning-of-war-ratchets-up-tensions?srnd=premium

(a) The last time I received gas for my car, I noticed that the gas prices were starting to rise. So, I thought that maybe it was just that time of the year so I just looked up why they might be rising because I've never known the reason.

(b) What lead me to believe that there was an opportunity is that gas is necessary for just about a majority of those in the area. People need gas for cars, scooters, buses, and motorcycles. 

(c)  The prototypical customer for this opportunity would be car owners, motorcyclists, bus company owners, and college students.

(d)  The opportunity would be difficult to exploit because the rising prices of oil will in turn raise the cost of acquiring the supplies to convert to gas. Also, if customers had incite on the rising prices of gas, customers would buy now and not when the prices were raised. It would almost be like people buying gas before hurricanes. 

Why did you see the opportunity?

I thought of the opportunity because I know that a majority of people in the US need gas on a daily bases. Therefore, we will have a lot of customers regardless of how high the prices may be. 

Regulatory Trends 

FDA moves to regulate CBD oil to protect Big Pharma's Profits

https://fda.news/2019-08-09-fda-moves-to-regulate-cbd-oil-to-protect-big-pharmas-profits.html

(a) I'm interested in the marijuana industry and found this article thinking that there might be an opportunity. Usually, marijuana likes to stir up some controversy so, I thought that there might be something to salvage from its popularity. 

(b) What leads me to believe that there is an opportunity is that the popularity for CBD oil is increasing which means that the product of CBD may be easier to sell to consumers. Plus, the marijuana industry is starting to boom.

(c) The prototypical consumers for CBD oil would be college students, old people, people with tourettes, and people who suffer from depression.

(d) The opportunity may be hard to come by legally unless I go to a place where marijuana is available recreational. 

Why did you see the opportunity?

I have an older brother who has a lot of anger issues so he uses marijuana to cool himself down a notch. So the CBD oil helps him achieve a calmer state of mind. I saw an opportunity because many people actually need the effects of CBD to help medicate different diseases or disabilities that they have.

US and Canada reach last-minute deal to replace NAFTA with new trade agreement 

https://www.independent.co.uk/news/world/americas/nafta-us-canada-trade-deal-trump-trudeau-mexico-usmca-a8562531.html

(a) The source that lead me to form a belief for an opportunity was the upcoming new deal that Donald Trump was trying to resurrect a new NAFTA in place of the old one.

(b) The diary market that Canada houses is highly desirable to the farmers in the US. Plus, officials say that this new agreement will create new jobs and new opportunities for those who live in North America.

(c) The customer with the opportunity would be the farmers in the US who get highly prized dairy from Canada as well as North American citizens who will be able to acquire good, well-paying jobs.

(d) I think the opportunity is relatively difficult because the jobs aren't specified and the dairy business would be a lot of money to try and start up.

Why did you see the opportunity?

I think what helped me find an opportunity as a result of this deal was that I really need a job and this deal promising extra job is not only beneficial to me, but also those who are currently unemployed.