Figuring Out Buyer Behavior

I chose my market segment based on demographics. I feel that my concept of a local business incubator can be considered all-inclusive. However, college students or other young people would be my target segment.

The first person I spoke with is named Tony. He is a 22-year-old student at our local college, Daytona State College. He has a concept for a computer game that he wants to bring to life. He said that he has worked on it in the past with friends, but it never got much further than the first few steps. He needs help from a graphic designer and a video game developer to move forward with his concept. Tony has been aware that he has had this need since the formation of the concept. He met a game developer who was very experienced and hoped to develop a relationship with him, but it never came to fruition. Tony said he has never even considered the concept of a business incubator that would help him work on his idea. He has never really sought any assistance other than trying to develop a relationship with the game developer. He only asks his girlfriend her opinion, and sometimes his sister.

The second person I talked to is named Brian. Brian graduated from Daytona State College about five years ago, and currently works in the hospitality industry in Daytona Beach. Brian has always considered himself entrepreneurial, and recalls seeking a loan from a bank when he only twenty years old to purchase a large hotel that was for sale. Brian's idea is to develop a meal replacement system that "tastes good" and is convenient. Brian said if he just had the space to carry out tests and product research he would be able to develop his idea. He said his friends and parents would give him money towards the idea. Brian said he was aware of the incubator at Embry-Riddle but "did not meet the criteria" to become a client.

The third person I talked to was also (coincidentally) named Tony. His idea is to form an alternate news site that is based on Christian principles and "founding father wisdom. "He is actually not a college student. He is 27 and currently in the Navy but will be finished serving next year. He said he will need a space to co-work with a few other people as well as access to a website designer and a secure server. Tony said he was just considering renting his own office space, but he would be very interested in a shared low-cost workspace with access to resources.

Each person I spoke with had a very different idea and reason for being a candidate for my business incubator. All three ended up being male. Two were college students and one was not. All of them expressed that they could possibly benefit from having access to a business incubator.

I would say this segment is acutely aware of their needs if they have an idea they know they want to pursue. I would imagine that is a pretty basic concept, though, when a person wants to start a business or develop a concept. I knew that I would need help when I started my own business and sought out a few experts in certain areas for advice. I was able to run my business out of my home, though. In Brian's case, I am not sure the incubator would be able to provide him with what he needs. I can't imagine an all-inclusive license being granted by the city for some many different business purposes. I suppose in that  way the incubator does have some limitations on who can be accepted as a client.