Assignment 20A- Growing Your Social Capital

Assignment 20A- Growing Your Social Capital

Domain Expert:

1. Who they are and their background: An old friend from high school who is currently trying to pursue his own entrepreneurial endeavors in real estate. He created his own real estate company and has been working in it for three years now
2. Slot: He is engaged in the same type of business activity as I'd like to be, which is selling housing to people from all over
3. How I found and contacted them: Somewhat kept in touch after high school and they invited me to like their real estate page on Facebook. From there, I used Facebook messenger to contact him
4. Nature of the exchange: He agreed to help me with my assignment and I promoted his real estate company page on Facebook as a thank you
5. Advantage of exploitation: I got to learn different techniques about selling in real estate and what different aspects of housing units different market segments look for (space is more significant for families, rent is more significant for single people, etc.)

Market Expert:

1. Who they are and their background: My uncle who has been working in management positions of different apartment complexes all over Florida for over fifteen years
2. Slot: He knows a lot about conducting customer research for this type of business and is also technically targeting the same market as I am
3. How I found and contacted them: I gave him a call since I already have his number and I cannot go physically visit him right now given the current situation
4. Nature of exchange: He did it as a favor for me because he's family :)
5. Advantage of exploitation: He gave me a lot of insight as to what kinds of areas in Florida I can expect to find different populations and where specifically I might want to begin my business and what areas need help that I can expand to. He is also a good reference to have if implementation of this idea ever were to happen so he can guide me on managing it

Supplier:

1. Who they are and their background: Associate from the leasing company that owns my apartment complex. They have been working with the company for six years now
2. Slot: The company they work for sells services to other organizations/firms in my industry
3. How I found and contacted them: I was able to contact the leasing office for my apartment complex and get the contact information for the actual company they work for
4. Nature of exchange: They helped me out as a favor since I'm already in a signed housing contract with them and am a current customer of theirs
5. Advantage of exploitation: They gave me a short review of how they began with the company and how they've managed to expand so much and essentially create a monopoly in the apartment complex industry in my area. They are a good contact to have for if/when I want to start my business venture in the future 

Reflection:

I felt like this assignment and doing the networking was significantly less intimidating than most social networking events I go to. In most that I've had experience with, I have to present myself extremely professional and speak one-on-one with recruiters. However, with this assignment, it was nice to be able to reach out to people I even knew to gain insightful information on how I would begin or manage my business idea. In the future, I think it would be helpful to seek out people I may know first, and then expand my network further after.

Assignment 19A- Idea Napkin No. 2

Assignment 19A- Idea Napkin No. 2

1. You
   My name is Jeannette, and I am a second-year business administration major with an area of specialization in Travel & Tourism Management. I'm really involved with the international business programs and Hispanic Student Association, as well as a job at the UF Computing Help Desk. My involvements have allowed me to gain significant experience in hospitality and event planning, which is what I hope to have an occupation in in the future, and I feel it has allowed me to better understand a client's needs and how to solve that opportunity. Specifically, students that are first-generation and from communities of color, which is why I chose to focus on designing a student-run apartment complex close to campus that is affordable and has excellent living conditions. I know that a living situation, such as the one I'm proposing, would be of great interest to me and most of my friend groups, and can be something that can be implemented for the long run.
2. What Are You Offering To Customers?I am offering a housing system close to the University of Florida's campus (and potentially other campuses across the nation) that allows students to pay discounted rent in exchange for weekly chores/roles of responsibility. This will ultimately result in lower rent costs as students wont need to pay for certain maintenance services, and could possibly even partner with apartment complexes nearby for access to their amenities at a reduced cost for students who would like to purchase it.
3. Who Are You Offering It To?
   I am mainly offering my product to low-income, first-generation students enrolled in both undergraduate and graduate courses, as well as any student interested in living in off-campus housing. This housing establishment will mainly be marketed to students of color, but is open to any student experiencing financial constraints.
4. Why Do They Care?I specifically wanted to highlight students who do not have the luxury of not taking rent price into account when searching for housing. I believe students should not feel they have to resort to on-campus or dirty off-campus housing just because of their family financial situation, and therefore should be able to experience decent living options walking distance to campus in case they also cannot afford transportation to class.
5. What Are Your Core Competencies?I believe my whole idea in general is what sets me apart from other competitors. While I do understand there is much competition in the housing market, especially for the limited housing options available that are close to campus, none of them cater to the demographic group I am marketing this towards, and I have yet to see housing options that incorporate all of the elements I am proposing. Being a student in the position of my target group, I can understand on a personal level what students in different minority groups are looking for and how limited their housing options are due to different financial constraints. Furthermore, students living in this kind of housing can gain experience in many different skill sets, depending on their assigned chore for the week.

Feedback Summary:

While I did receive limited feedback. it was very positive and encouraging! People who have heard of my idea seem to really like it so far and think it's helpful to the community that I'm targeting. Something did come to my attention from one of the comments, that some unexpected and variable costs that may arise and there needs to be a steady way to pay for these cases. To address that, I think it would be helpful if this service requested government funding and could be provided emergency funds in case these arise. Additionally, this alumni/student-run complex could be partnered with other companies and share expenses for maintenance for a reduced rate. There are many options to explore and many things we could look into upon the implementation of this.

Assignment 18A- Create a Customer Avatar

Assignment 18A- Create a Customer Avatar

My prototypical customer is a racially diverse (half-black half-Hispanic) female in her early 20's. She attends the University of Florida and is currently a third-year Journalism major from Cuba and has family in South Florida and mainly her home country. My customer also has a very big family, including 2 brothers and 2 sisters, so she must support her expenses by working part-time as an assistant at the Gainesville news station on campus. One day, my customer hopes to work for the Spanish news channel "Telemundo" and loves to sing, write poetry, and cook. She is a registered Democrat, and looks up to Beyonce, Zoe Saldana, and Barack Obama as her idols. She is very family-oriented, responsible and hard working, and is considered a great student.

As far as what I have in common with my customer, I would say we both grew up in traditional Hispanic households and have experienced managing a big family on top of other responsibilities. Our similar hard-working mindset allows me to understand her as a customer and what she would be looking for in a product. Because of that, our similarities are not coincidental because most females I meet that are like me are in search of a product that I hope to create, so I would be targeting a segment that this prototypical customer falls into.

Assignment 16A- What's Your Secret Sauce?

Assignment 16A- What's Your Secret Sauce?

5 ways I have unique human capital:

1. Kind: Kindness is one of my biggest values in life, and I actively try harder everyday to practice it as much as I can. In life, begin kind can get you many places and connections (although you should always be kind just to be kind) and you should always want people to remember you in a positive light. Aside from being short, saying I'm very kind is one of the most common ways people describe me!
2. Open-Minded: I take pride in the fact that I am very open-minded. Although I may get overwhelmed at times, I handle change very well and am willing to accommodate to things as necessary. I'm also a person who makes sure everyone is being heard, and all people's opinions can be taken into consideration before making a decision, and I think this is very helpful in a workplace where there may be a lot of diversity.
3. Fast Learner: As mentioned earlier, I am very open to change and learning new ways to do/improve things. This also takes the ability to learn quickly and be able to accommodate fast, which I have been complimented on many times. I don't like to give up easily, so every time I have to learn something new, I take it as a challenge and try my best to really focus on learning the procedure to things.
4. Collaborative: I believe I have great teamwork skills, and therefore makes it easy for me to be collaborative with my colleagues. I feel this is a very important quality to have nowadays, and it seems to be one of the biggest qualities recruiters look for in candidates. In a work environment especially, this would come in handy.
5. Empathetic: Lastly, I believe I am very empathetic and can handle other people's emotions very well. I have been told on multiple occasions that my emotional intelligence is very high, and I'm very easy to have a conversation with. This leads to a strong, solid relationship with people that involves open communication, which is very important.

Interviews

Interview 1 (Brother): "Your most unique skills I think are empathy, sense of humor, and leadership skills. I'd say they're all at a higher level than the average person."

Interview 2 (Friend/Roommate): "It's hard to say what your best quality is, but probably kind or generous. You're a genuinely good person and would make a great boss someday"

Interview 3 (Coworker): "You always come through for people! You picked up the last part of my shift when I really needed it, and didn't leave me hanging like you-know-who did last time (lol). You're very reliable"

Interview 4 (Classmate): "I would say you're very intelligent on an academic level, but in general, your niceness is what sets you apart. I felt very comfortable being in class with you and you helped me out so many times!"

Interview 5 (Mother): "While I think you're the best person in the world, I'd have to say you're extremely responsible when it comes to your school, work, and self-discipline. You always keep your word with people and get things done without being asked"

Reflection

I found all the answers to be heartwarming, but mainly accurate. It was nice to know I am perceived in such a positive light, but also that these qualities can be used to improve my human capital. I think I definitely view myself in a different way than people on the outside view me, mainly because I know what my weaknesses are and where I can improve on as a person. I don't think I would change my list, because I know those are my main strengths as of now, but I would like to improve on other areas to hopefully continue updating it in the future

Assignment 15A- Figuring Out Buyer Behavior No. 2

Assignment 15A- Figuring Out Buyer Behavior No. 2

Alternative Evaluation:

The first person I interviewed stated that price plays a large role in deciding where they can live in the future, and style/convenience/amenities are almost "luxuries" to them- not really a large deciding factor for their housing. While it would be nice to live in one of the luxury student-housing, two of my interviewees said it definitely cant be their end goal when deciding where to live. My last interviewee had a slightly different answer, saying she was fortunate enough to be granted a large scholarship and could be a little more lenient with the prices of the apartments. The second most popular demand for buying apartments was how well built or gross it was!

How/Where Do They Buy?:
While all three of my interviewees said they prefer to do their shopping online, going in-person to tour apartment complexes and housing units are what seal the deal. Pictures online can be fake or edited to look more luxurious than the place actually is, and if they're already in Gainesville, it makes sense to just go for a tour. My second interviewee said another factor is if they want to live with specific people and what their preferences are. This is important because if their parents play a large-role in the decision, everyone's thoughts have to be taken into consideration before moving on with the next step.

Post-Purchase Evaluation:
For the most part, my interviewees stated a post-purchase decision cannot really be made until about halfway during their time living in the apartment complex. Mainly they have already had time to experience any sort of appliances breaking down, how long the bus rides are, insect infestations, etc. so they can accurately gauge whether their purchase was worth it for the price or not. One thing my first interviewee said they look for is how fast the management team helps take care of their complaints. If the management team doesnt care about their residents, they're not gonna care to stay with them.

Conclusions:
After conducting all my interviews, I found it very helpful to know what's inside the minds of consumers when making a purchase that will affect my product. However, it's good to know they all had very similar answers and felt passionately enough about each of them to know what I should target when creating my product. For the housing market, there isnt too much leniency when deciding a budget or style, so hopefully mine will attract a large portion of the student population I'm targeting.