1. The segment I am going to write about is the age range of my potential customers. For my business, the age range I would like to target is 21-35.
2/3. Interviews: I talked to three people ages 21, 22, and 25 that live or have lived in Colorado during recent times. All of these people attended college in the state, and all used recreational cannabis. These people used to go to a cannabis store almost once every week. They were regular users, and spent a considerable amount of money on cannabis. These people would use cannabis at their homes, at music festivals, etc. They used cannabis as a way to enjoy themselves, and to have fun. All of these people like the psychoactive effects that cannabis gave them, and went to the stores regularly. When they first got to Colorado, they did not know where to go to find recreational cannabis. That is where the unmet need comes in. They eventually found a store to go, and that is what my business idea is. I would like to place recreational cannabis stores in places that legally allow it. This would attract younger people that enjoy cannabis, and do not want to but it from street corners and sketchy parking lots.
4. When these people became aware of their need, the first thing they would do was to google search for stores in their area. They would search phrases like "cannabis dispensary near me" or "cannabis stores in my area." They would then look at the search results and find stores that were closest to them. They would also read the reviews online, or ask friends if they have ever gone to a cannabis store near them.
5. I have learned that a lot of young people enjoy cannabis, and are very willing to spend money on it in areas that have legalized its use. I also learned that these people are typically regular users/customers. This information has lead me to believe that opening a recreational cannabis store can be a very successful business if done properly. Lastly, I learned that I would need to place a store in an area that is heavily populated by young people, such as a college town.
6. I believe that this segment is very aware of their needs, and are good at finding a place to fill this need. Since my segment is younger, they are always looking to have a good time, and they are very good at using the internet. If my store is searchable on the internet, then I believe that the young people will find it.
Hey David,
ReplyDeleteYou have done a good job to look at your target audience and analyze their behaviors in purchasing cannabis. Prioritizing your online visibility sounds like a smart move because, like you mentioned, your audience is well versed in using the internet. Also, placing your business in a college town will increase demand for your service and boost your sales as well!