2. I spoke to three target customers, all of which were either college sophomores or juniors, students who had a need for off-campus housing. They all were aware that they are the target customers, as the need for college housing is quite an inelastic demand. All of which have agreed that they have been targeted on social media, through flyers, and word of mouth. Customers needs tend to be met with off-campus housing. However, all three did state that they had a lack of amenities which they enjoyed, and that college housing tends to be overpriced for what you get.
3. This is an interesting case, as I do not believe 20% make up 80%. This is due to the fact that for the most part, paying rent is something that is universal. No customers necessarily pay less or more rent than others. However, some may bring in more business than others by choosing to live with friends, or by giving good reviews to friends.
My entrepreneur denied video, and my three customers didn't seem too fond of the idea. I did however record the audio.
Ho Alex. I think it is really great that you completed this assignment because I know it wasn't the easiest one. I think your outcome was interesting as well since the situation is a little bit different than other where the customers have to pay rent. Great job on your post. You can check out mine here http://theentrepreneuriaou.blogspot.com/2016/02/the-twenty-percent.html
ReplyDeleteHey Alex. Good post. Your entrepreneur seemed like he chose a great market. There are always college students looking for off-campus housing. If he can lease apartments to them at a reasonable price there is no reason he cannot get a great amount of customers. I particularly enjoyed the fact that your business owner had a very defined and thought-out target market. Check out my post at http://ahamuf.blogspot.com/2016/02/the-twenty-percent.html.
ReplyDeleteHey Alex, I think this was a very interesting post. I agree that 20% does not make up the 80%. This is a very interesting market, but it does seem like it is an easy market in which to make money. The business owner you chose definitely has a well defined target market audience. It is interesting to see that 20% does not make up the 80% in this scenario since everyone must pay the same amount or face the repercussions. Check out my blog at http://luissoto93.blogspot.com
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ReplyDeleteHi Alex
ReplyDeleteI really enjoyed your blog post. I thought it was really interesting that you chose business owner who runs a property management company for your interview. One thing that really stood out to me is how the college students were very aware that they were being " targeted".
If you get the chance check out my blog: blogapocolypse.blogspot.com