Figuring Out Buyer Behavior

1.      When deciding to choose a specific market for my company I will first need to consider certain factors. I will first look for a geographic area that is overly populated. I would not consider an area that does not have a high population because traffic may not be a big issue for this area and there is no need for my company. I am looking for a metropolitan area where traffic occurs throughout multiple parts of the day. Drivers in areas like around Washington D.C., Los Angeles, and New York average over 75 hours spent in traffic each year. Once I choose one of these highly populated areas I will have to market to the people of this area. These people will fall into the demographic of people over legal driving age and that commute with there own cars.

2.      I had to interview more than 3 people to find people in my market segment. I found 2 people that are from the New York area and one that lives by Miami. These people all verified that before coming to the University of Florida, while living in these areas they would deal with countess hours of traffic every day. They explained to me that it was hard to predict when there would be traffic. I also asked if they realized the cost of congestion that they have to pay yearly. According to the Texas Transportation Institute the average cost of congestion per person in the Miami metropolitan area was $612 and in the New York area it was $580. Also, air pollution is also highest in these areas compared to less populated areas.

3.      One interviewee went on to say that trying to avoid traffic is a daily struggle. Whether it is the middle of the day or in the middle of the night there are some roads and highways that seem to always be congested for some reason or another. I would want to have this service available at all times of the day. There are multiple reasons that cause traffic in these areas other than rush hour and if I am able to take away those forms of traffic than I can take away the big cost of traffic in these areas.

4.      My interviewees were always aware of having too much traffic in the areas they lived by. If my service is implemented in populated area, then I hope to cut the cost of congestion in half. I will market to the areas that have this problem and promote the application that needs to be downloaded to report incidents on the road.

5.      I found that my interviewees did not have a hard time figuring out the problem of traffic. They were able to figure out what the costs were including the cost of gas, time loss and the environmental effects. They were all on board to paying a one time yearly fee to help lower the cost of traffic.

 6.   I concluded that most people I interviewed were able to realize that sitting in traffic cost them a lot of money each year. I was also able to conclude that all the people who were able to recognize the problem said that they would be willing to pay a small fee on their annual car registration fee to have the annual cost of traffic reduced. I figure that the small fee would be smaller than the amount of money I can save on traffic for people in a large metropolitan area if my company is implemented.