Figuring Out Buyer Behavior No. 2

Interview One: In this interview we talked about the alternative of traveler’s insurance. When talking through what this service provides it became apparent that it would possibly be a direct competitor with my service. If this is the case than I would have to compete on price point and possibly on breadth of service.

Interview Two: In this interview we dove deeper into how this service would be brought to our potential customers. After discussion we thought about negotiating with airlines to add an option at the end of their checkout to add this type of “insurance” to their travel itinerary. This would be good for the airlines because they could tell travelers that people who buy the insurance have priority and move some of the liability of traveling off of them if people do not opt into the insurance.

Interview Three: The last interview focused on whether people would think this option is worth their time or money. Truly, the only way for them to know for sure is if they need to use it. As claims keep getting made people will see how much this service could save them in the future. People will now have an option to spare themselves the hassle of being stranded in an airport and worrying about the expenses that come with this inconvenience.

These interviews showed that there could be a lot of obstacles in the way of making this a viable business opportunity. There are competitors in the market already and a lot of variables in the airline industry that raise very high barriers to entry. Looking forward, we will have to differentiate ourselves on multiple fronts to make sure that we can survive in a hostile market.