15A - Figuring Out Buyer Behavior No. 2

Alternative Evaluation: Since my idea is a B2B transaction, it is logical that both business’ top priority is price, and that is what I found in my interviews. Companies have a bottom line that is ultimately the most important part of conducting business. On the restaurants’ end, they will be more likely to sell their food to a nonprofit or directly to a food bank if the price is higher and they make more profit off of it. In the case of the nonprofit or food bank, the opposite is true. The lower the price of the food, the more likely they are to take advantage of that opportunity. However, quality is also important but is definitely a secondary factor. Another important factor is simply the restaurant’s willingness to add this component to their business operations. Some restaurants simply do not have the resources or time to dedicate to coordinating with another business even though they know it would provide an overall societal benefit.

How/where they buy: This transaction would be a lot simpler to do in person rather than online. There is an inevitable physical aspect to it since someone must actually put together the food, pick it up, and then drop it off at its final destination. However, there could be an online version to set up the payments and pickup times, but most of the interviewees agreed that handling this in person would be easier. They also said they would likely pay with a check or company credit card but would not set up a financing plan.

Post-purchase evaluation: The factors that help them determine whether the purchase was a good idea is whether they got their “money’s worth” and whether the quality of the food was up to par. The restaurants emphasized that if they made more of a profit from selling the food rather than throwing it away, it would be a good decision.

Report the findings: The information above summarizes most of what I learned in the interviews. The main takeaway was that price is the bottom line. If it is too expensive or simply not profitable, it will be completely out of the question.

Draw conclusions: They behave as I would have expected them to. Price is the most important factor, followed by quality. One interviewee did express that making a positive impact on the local community is also a valuable factor, but this does not hold true for every single restaurant.

14A - Halfway Reflection

1.    Some behaviors I have developed to keep up with the requirements of this course are planning ahead to decide when I am going to complete assignments. I have always been a planner, but this class requires extra effort since there are often interviews to conduct, books to read, or other activities that are important to set time aside for before the due date.

2.    I think most college students can relate to having those moments where all you want to do is give up. However, I always remind myself of the value of the education that we are getting. UF is an incredible university, and our experiences here are shaping us into the competent adults that we all hope to be. I don’t think that tenacity is something that can be learned in two months. It is a skill that must be developed and practiced until it becomes a habit. The experience that has most shown me this at UF is the calculus class I had to take for my economics major. Math has never been my strong suit, so I struggled in this class, and I hated it in the moment. But looking back, I can now see how this class taught me to just keep working at it until I feel confident.

3.    The first tip I would offer is to plan ahead. Use a planner, keep to-do lists, and make sure you look at your assignments ahead of time. I personally like to write daily to-do lists every morning so that I have a clear idea of what I want to accomplish that day. The second tip is to hold yourself accountable. This is easier to do if you know other people in the class. If you tell yourself that you are going to do an assignment or a part of it on a certain day then you end up not completing it, make a point to wake up early the next morning and do it. Accountability develops tenacity. The last tip is to have confidence in your abilities and not let yourself make excuses for yourself. This one is more specific to developing a tenacious mindset. If you hold yourself to a higher standard, you will be less likely to waste time procrastinating on assignments.

13A - Reading Reflection No. 1

For this assignment, I read a biography of Gabrielle Chanel, the fashion designer and icon. It is titled Coco Chanel: An Intimate Life.

1.    The most surprising aspect of Coco Chanel’s life was her almost chronic loneliness. It seems logical that someone as dynamic and talented as Chanel was would find a compatible partner who would challenge and better her. Instead, she bounced from man to man, serving as everything from a mistress to a muse to a collaborator. On a related note, I was also surprised by the array of renowned artists Chanel with which was involved in some way. The list includes some of the most well-known artists of all time, including Picasso and Dalí. I most admired Chanel’s ability to create an “image” or “brand” of her style before the age of social media. She is truly one of the original icons who managed to capture the world’s attention. I also admired her determination not to allow a man to indefinitely support her financially. The second she found out her lover, Arthur Capel, was making payments and phone calls to the bank on her behalf, she immediately found ways for her business to become profitable so that she could rely on herself instead. I respect her desire for independence. I least admired Chanel’s pattern of being a mistress to married men. It is not a respectable pattern of behavior in my opinion. Chanel faced adversity virtually her entire life. She lived in an orphanage for years and had a troubled family life. She also struggled in terms of business later on. At 71 years of age, she decided to reopen her couture house, now facing a younger generation with different tastes. Although it took her some time, she eventually overcame these challenges to create timeless pieces of fashion.

2.    Coco Chanel exhibited various competencies that led her to success. Most importantly, her creativity and sense of fashion allowed her to create classic garments and accessories. Her creative mind truly gave her an essence of who she was. Similarly, her innovation and adaptability kept her relevant even through old age when many fashion icons fade away from the spotlight.

3.    One part of the reading that I found confusing was related to the great love of Chanel’s life. Supposedly, Arthur Capel was the greatest love of Chanel’s life. Her other affairs and engagements paled in comparison to this. However, Capel chose to marry a different woman. It is confusing to me how these two facts can coexist with each other.

4.    The first question I would ask Chanel is if she regrets prioritizing her work over everything – even love. In the book, she is quoted saying, “I liked work. I sacrificed everything to it, even love. Work has consumed my life.” I wonder if she regrets this take on her life or if she would say that it was worth it. The second question I would ask her is if she ever imagined that she would become the icon that she is. It seems difficult to imagine such lofty goals as anything more than a dream, but I wonder if Chanel knew she was always destined for something big.

5.    I think Chanel’s opinion of hard work is rooted in passion for what you do – whatever that may be. For her, her passion lied in bringing her creative urges to life through every channel she could find. I agree that passion takes a lot of the hard part out of hard work.

12A - Figuring Out Buyer Behavior No. 1

Segment: college students who are interested in volunteering their time for food pickup and drop-off

1.    My first interviewee is a junior at UF who is interested in working in the nonprofit sector once she graduates. She said that she is passionate about serving the needy because of past experiences in her personal life. She pointed out that it would be difficult to make a profit in this business, but that it’s still important to have services like these. She occasionally volunteers at a soup kitchen with her roommate.

2.    My second interview was with an 18-year-old girl who believes that serving one’s local community is extremely important. She wants to run for public office in the future. She said that she tries to find a new cause to help every month. 

3.    The last person I interviewed said that he needs to get volunteer hours for a class, so he would be interested in helping a new foundation get on its feet. Although his class is the reason that he wants to volunteer in the first place, he said it’s important to him that he find a cause he thinks is worthwhile. 

I learned that I will need to target people with an innate passion for helping others and serving underprivileged communities. Many people do not generally make a habit of volunteering their time, so my business would likely have to rely on charity donations for funding rather than the traditional model. While I will also charge a service fee for picking up and delivering the food, most nonprofits cannot afford to pay a lot for this. However, I think that with the help of volunteers this could still be successful and help many people.

11A - Idea Napkin No. 1

1.    Me: My name is Beatriz Galdona and I am a junior at UF studying economics and political science with a minor in Spanish. I am a diligent, disciplined student, and I am hoping to attend law school after graduating from UF. I have experience working in business operations, specifically in the health care field. As a lawyer, I am interested in working with contractual law in the realm of nonprofit organizations, health care, or public policy. I see this business concept playing a role in my life because it would combine my work ethic and drive to improve others’ lives while also allowing me to utilize my analytical skills through the law.

2.    What I’m offering: I am proposing a middle-man business operation to connect restaurants with food kitchens, homeless shelters, and other places that provide services to underserved communities. The concept is to set up a business that would take leftover, uneaten food from restaurants and deliver it to nonprofit organizations that feed our homeless or underprivileged populations. The final customers are the people who would eat the food, but my direct customers would be the restaurants and nonprofits that I would be connecting. My idea helps restaurants meet their social responsibility goals and obviously benefits the nonprofits by providing them food to ease their burden. Additionally, this idea limits waste because restaurants will be producing less garbage overall.

3.    Who I’m offering it to: My business idea is directed toward restaurants looking to better serve their communities as well as nonprofits in need of extra assistance with locating food supplies. The restaurants share a social responsibility to help underprivileged communities as well as produce as little waste as possible. The nonprofits share a constant need for greater resources. 

4.    Why they care: Nonprofit organizations inherently care about the communities they serve. They will utilize any resource available to them to make it easier to get quality food to their customers. The restaurant aspect is a bit more difficult to achieve, but social responsibility has become an increasingly salient topic in today’s sociopolitical climate. 

5.    Core competencies: I have a knack for thinking of various solutions to the same problem and deciding which would be most effective and why. I am also a planner; I love to plan ahead and get tasks done ahead of time so that if (and when) something goes wrong, there is still a chance to fix it.

I believe that these elements fit together well. I previously had a different business idea, and I already think this one is both more viable and more meaningful. I believe this business has the potential to be successful and make true positive change in the communities it serves. However, there are obvious challenges such as finding restaurants willing to donate food and nonprofits willing to pay a decent price for the service. Even so, I think this would benefit everyone involved.

9A - Testing the Hypothesis, Part 2

·     Who: Through these five additional interviews, I learned a few important things. The main one that came up in three of the interviews is that students with a car (i.e. the ones who would have a problem finding parking at this Publix) also have the option of going to one of the various other Publix supermarkets within driving distance. They could also go to Trader Joe’s, Whole Foods, Lucky’s, or a different supermarket to buy their groceries. The presence of so many substitutes for this Publix may present a problem for my valet service idea. One interviewee put it well when she said, “If someone is willing to pay to park their car at this Publix, they are also probably willing to drive a few extra minutes to go to a grocery store that has ample parking.” This limits the “who” of my opportunity by a lot more than I initially realized. One of the other people I interviewed is an employee of this Publix, so he does not have the option of going somewhere else. However, he said that he would consider using valet on a temporary basis, but he would likely bring up the parking problem to his manager and hope for a more permanent solution that did not cost him additional money each time he went to work. The fifth person I interviewed is the parent of a UF student. Her daughter has a car, but she is very busy with school and other commitments so this Publix’s location is much more convenient than any of the other supermarkets in Gainesville since she lives close to it. The parent said that she would give her daughter a few extra dollars for a valet service if her daughter thought it would be helpful. Overall, exploring the “who” on a deeper level has made me reconsider this idea. People with cars who shop at this Publix or frequent this Starbucks are also the ones who have the most substitutes available to them, and they are the only ones who would be in my market.

·     What: Despite the many other options available, the problem remains that there is not enough parking at this Publix location. For whatever reason, people continue to go to this Publix even though finding car parking can take time. 

·     Why: The “why” could just be that there is no employee parking lot, and that would solve the issue. However, that would be difficult for an outsider to capitalize on since Publix management would be in charge of finding or building a separate employee parking lot. People inside the market go to this Publix out of convenience while people outside the market go to other supermarkets because they do not want to deal with parking there.

Click the picture to see it more clearly :)