Alternative & Post-Purchase Evaluation.

Interviews: https://soundcloud.com/zach-schaeffer/sets/buyer-behavior-2

Entering the market for automobiles can be can a dangerous venture. The automobile industry holds a lot of competition from luxury cars to hybrids to cheaper alternatives.  However, a vast majority of these cars, excluding Teslas or other charging electric cars, require gasoline to run. My car can stand out from its competitors by running on its own generators rather than gasoline.  This not only be a huge financial benefit, but will also drastically reduce carbon emissions from drivers.  This unique vehicle would certainly draw attention, which can be an incentive or a deterrent, depending on the consumer.  All of these qualities would determine the likely hood of someone purchasing and InfiniCar over another product.

Because this car is unique and likely expensive, people would generally request a hands on demonstration before making the decision to purchase.  This would make a dealership the logical way to conduct business. This would allow people to experience and test the vehicle before pulling the trigger.  Because a car is a major financial commitment, it is possible that people would look to banks or outside lenders to finance their purchase.

If a buyer decides to purchase an Infinicar they will likely be satisfied when they begin to see their gasoline savings accumulate.  While there is much concern about the cars dependence on weather, stable long term performance would convince a consumer that they made the right choice. Lastly, a smart buyer would evaluate the cars performance over time.  They would decide weather dust and dirt affect the solar panel significantly and whether the windmill begins to build resistance.

Fratire

Fratire- Clothing that is stereotypical of a man in a fraternity. Typically preppy, bright colored clothing.

I found that using this term among my friends got a positive reaction. Depending on the context, people would continue to describe the same outfit as frat or being a fratire. The term did not really hold any long term presence but in the moment people thought it was clever.  Adults are not as familiar with the term frat and failed to find it as amusing.

Halfway Reflection

ENT3003 has challenged me critically and creatively to solve problems and capitalize on opportunities. Once I landed on an idea, the process of conducting interviews forced me to use conversational skills to refine and improve my product.  While these may seem uncomfortable and excessive in the beginning, it is important to hear multiple opinions in order to anticipate societies reception of the product. As long as you remain engaged and determined, keeping up with the assignments is doable.

While the first set of interviews were short, I still found it difficult to meet the allotted time. I was unfamiliar with the process and unsure what questions to ask.  When the recommended length grew to 10+ minutes I did not think it would be possible to sustain such an interview.  I also stepped out of my comfort zone for the Elevator  Pitch which was the first time I actually put myself and my voice on display for any viewers of my blog. I have done my best to complete these assignments, no matter how foreign or challenging they may seem.

I would recommend future students get into the habit of completing all assignments and starting them early.  While it may seem like you can skip assignments because they're only one points, they begin to add up quickly. I also recommend creating a product you truly believe in, surrounding an opportunity you are passionate about. This will make it much easier to talk about when it comes to interviews or pitches.

Idea Napkin 1

1) My name is Zach Schaeffer and I am currently on track to major in finance with a minor in sustainability studies.  I am extremely passionate about environmental conservation and believe that our society is at a critical tipping point. I believe that a car that could power itself would revolutionize the transportation industry. Not only would this be a huge step for the planet, but it would save consumers tons of money on gasoline.  After it's initial purchase, which may be expensive, my car would be able to run on its own without incurring gas costs over time.

2) My product offers customers an escape from their dependence on oil and gas companies. A car that runs on solar and wind energy would allow consumers to reduce their carbon footprint while drastically reducing the financial burden of driving and commuting.

3) This product would meet a significant need for drivers of all ages and backgrounds.  The long term savings would allow me to charge a high initial price making the product more of a luxury good, however, I believe people would see the long term benefits and maintain a significant demand.

4) Often times people dismiss the issue of global warming in the belief that their effort couldn't make a difference in the giant scale of the planet. However, my car provided a financial incentive as well making it likely people will buy the car out  of self interest. In combination with a growing awareness of conservationism, enough people will make the switch to a renewable powered automobile.

5) With a background in sustainability studies I will have a extensive understanding of sustainable practices a ways to preserve money and resources for years to come. In combination with my natural creativity and financial understanding I will be able to innovate and develop my product to meet the demand of as many people as possible.

While this concept may be far reaching and difficult to develop,  I believe a competent team of engineers could make it possible.  With minor tweaks and adjustments that come with the development process I believe this car would be practical and attainable.

Tweaking the Innovation

I have conceived a product known as the InfiniCar that will be able to travel for a theoretically infinite amount of time without having to refuel.  This product will revolutionize modern transportation by allowing consumers to avoid paying high gas prices while giving back to the planet and drastically reducing carbon emissions.  These obvious benefits provide a distinct core or reason for people to buy this product.  This car is completely unique in it's ability to sustain itself.  This also implies that the maintenance and services will be entirely unique as well.  The main revenue driver for this product is the actual car sales.  However, once cars have been purchased, consumers will likely have to return for maintenance and upkeep.  This will provide another, augmented, level of service to drive revenue.  In the future, wind and solar technology may develop, driving the InfiniCar's efficiency. Additionally, this futuristic car will be redesigned as technology improves, allowing it to be slimmer and more visually appealing.  Lastly, I would look into ways to convert my conceived rear wind turbine into a series of smaller fans, ideally allowing me to harness more energy. I would also eventually hope to introduce a windshield wiper-like self cleaning device in order to keep the solar panel clear and running at maximum efficiency at all times.

Elevator Pitch No. 1

Today, the purchase of a car comes with the implication of paying hundreds of dollars every month for gasoline just to keep in functional.  Burning through this much gas has major financial and environmental implications. In order to avoid these expenses, I have developed the InfiniCar.  This car will be able to run indefinitely on the power of the sun and wind. A solar panel on the hood and a wind turbine in the rear will allow my car to not only produce enough electricity to run the car, but also be able to do so with zero greenhouse gas emissions.