Assignment 12A Figuring Out Buyer Behavior No. 1

• Segment:
• I chose the segment of business educated students (current business majors or have taken previous business classes). All three of the people I interviewed had a business knowledge background. One is a current General Business major here at the University of Florida, one is a current Accounting major at the University of Florida, and the last one was the Academy of Finance Ambassador of her high school and a member of the Academy of Finance for all 4 years.
• Interviews:
• The first girl I spoke with who was the General Business Major had the unmet need of preventing credit card fraud through skimming. She noted that this unmet need is most satiable when she is paying at the gas station or other sketchy places. She says that she doesn't really pay attention to the need however, when she is using her card at places she is more comfortable with such as Publix, the mall, on campus, etc. When she is at the gas station though, her concern of being skimmed rises, though she still pays with card anyway and hopes for the best, since she has no other option. She claims that if she carried cash with her, she would use it as an alternative method of payment at times like those. She says she doesn't search for solutions on the Internet, however, she occasionally finds articles in the news that pop up that inform her of credit card frauds through skimming that is happening. Her solution is being aware, yet she admits that she does not take any physical action into solving the problem as she pays with the card anyway, even if she is hesitant. If she is really concerned, she says she would call her parents for help.
• The second person I spoke with is a first year Accounting major student, who also has the unmet need. She says she has this need whenever she uses her card. It is most satiable when the card reader does not have the chip reader, and requires her to slide her card. She states that she feels most comfortable with using her card when she is able to insert her card with the EMV chip. Whenever she comes across a location that does not take chip, such as gas stations, she says she has no other choice but to slide her card and hope she doesn't get skimmed. Though, if she has cash on her she would rather pay with it. Her main source of solutions is her parents, since her account is connected with theirs. She doesn't really look to other sources for a solution, as she relies on her own judgment. She feels that skimming is inevitable, unless you pay with cash, which she doesn't have on her all the time. 
• Lastly, I spoke to a friend who was also in the Academy of Finance. In fact, she was the ambassador of the academy. She says that being in the academy raised her awareness of being more cautious when using her card. The unmet need is most satiable for her whenever she is unsure about the location of where she is paying, like at a gas station. She prefers to not use her card at these sketchy locations, but sometimes does anyway, as it is convenient. She feels that it is difficult to prevent a skimming from happening, as there is no way of telling, so she just uses her card anyway. Her solution is just being aware, and if it comes to the point where she needs to contact someone, she would contact her parents.
• Conclusion
• Based on these three interviews, I learned that the common issue that comes with skimming is uncertainty. Even with the awareness that they are at risk of skimming, consumers are uncertain of whether or not they are facing fraud and come to the conclusion that credit card fraud through skimming is inevitable. In which, I feel that my product would come in high demand due to this common issue among the customers. As for this segment in particular, I found that the ones with a business background and had financial knowledge were more aware and cautious of the problem, but still found the problem to be inevitable. In which, even though they knew that they could be at risk, they still used their cards because it is their preferred method of payment or they have no other option.