- Created by: Millie Falconer
- Created on: 28-03-19 17:40
Good morning, my name is Millie Falconer and I would like to warmly welcome you to this pitch for my brand new hat.
I have composed a new brand called Falconer Fashion, which is a hat range aimed at eight to thirteen-year-olds.
I chose this age range as I noticed a growing trend of children refusing to wear caps in the summer because ‘it isn’t cool to wear hats’ so I wanted to create a hat that would entice kids to want to wear my hat in the summer during PE lessons or just when they’re playing outside and they need to protect their head.
During this presentation I am going to refer to these main points shown on the board - branding, target audience, pricing and promotional strategies when talking about my hat and believe that by the end of this pitch you will love it just as much as I do.
Through conducting copious amounts of market research, both primary and secondary, I finalised my hat design.
My hat is a cap style hat as I found this most fitting for the brief that I gave myself of developing a hat for children to use when playing out in the summer.
The design is made entirely of cotton, including the interior - one of the cheapest options out of the available materials and is also appropriate for children to use in the summertime without the worry of the hat falling off their head, as cotton is much less likely to slip off their head
The hat features the colours blue and purple, which were two of the most popular colour choices from my market research HO 1
I have not included any accessories, such as bows or ribbon as I am marketing my hat at both sexes and nearly all of the questionnaire respondents said that they would not like an accessory to be featured on the hat.
Branding is an extremely important thing for a company to invest in as it helps greatly in creating customer loyalty and securing a place on large retailers’ shelves for your product.
To create my own brand identity, I have used a distinctive logo, slogan and unique brand colours. My slogan as you can see is ‘straight up style’ and my brand colours are specific shades of blue and purple.
This is my brand logo. I have used the star as the focal point because it is a simple, easily recognisable shape that can be identified by any age group, especially though, by my target market of eight to thirteen year olds.
The uncluttered image allows my brand to seem straightforward and of good quality, which is an appealing factor to both children and parents, as when looking for a sturdy cap, you want it to be of good standard.
The use of vibrant shades had been used with the intent to attract my target market, as bright colours tend to seem more youthful and appealing to children.
My logo will be displayed on the side of my hat, this is because I believe it to be a more uncommon place to find a logo, as most brands place their logo on the front of the hat - This is another USP for my hat, which, combined with the unique nature of my logo, will contribute greatly to the success of my branding, while still being visible on the hat.
I have chosen, with the help of small primary research, to use the slogan ‘straight up style’ for my brand. This slogan was selected as the majority that I asked during my research said they preferred this slogan out of the possible three that I had lined up.
Many preferred this slogan as it included alliteration, which matched up with my brand name, providing a connection between the two.
It is catchy and has a youthful tone to it, making it a perfect slogan to appeal to my young target market.
I have used the same font for both my brand name and my slogan to create a cohesion between the two.
My brand colours are the shades used in my brand name and slogan. This is to create a cohesive image for my brand and to reinforce the colours as being associated with my brand and hat.
As with the brand name and slogan, I have chosen these colours as they are bright, bold and are most likely to attract my young target market because of how eye-catching they are. I also used these colours with the intent of still attracting the older part of my target market, of twelve and thirteen-year-olds, as they do not want ‘childish’ colours, yet I still needed the colours to be bright in order to appeal to the younger end of my target market, so I felt these colours combined these two needs perfectly.
I have taken into account that my target market has said that their preferable price for the hat is £4 - £6, however after looking at the break-even chart HANDOUT 2, I would have to sell a lot more hats to break even than if I sold my hat at a more expensive price. My intended selling price is £9.99 which resulted in a break-even point of 1016 hats per month
The pricing of my product is one of the most important factors as it can make or break the success of the product and my new brand. In order to make a decision about what price to set for my hat, I had to consider:
The costs the my business has to pay to make the hat
How much profit I am aiming to make in a month/year
If my customers are willing to pay the chosen price
I have chosen the price of £9.99 to sell my hat at as it is relatively inexpensive, however it is still enough to ensure a sufficient amount of profit every month and give me an attainable number of hats to sell every month in order to achieve my break even point in the first place.
DECREASING OR INCREASING
During my decision-making process for my pricing, I developed two other break-even charts, on with a decreased price from my intended selling price and one with an increased price.
This showed me that increasing my price, yes would be favourable as I would have to sell fewer hats in order to break even but I had to take into account that my young target market has a low amount of disposable income, so I chose not to use a higher price.
Then a lower price would mean it would take much longer to break even than if I sold the hat at my intended price, so I didn't choose this lower option either.
When deciding which promotional methods I was going to use to promote my hat, I looked into the two main groupings of promotional strategies: traditional and digital, and asked my target market where they would like to see my hat advertised. HANDOUT 3
I needed to ensure I chose the most suitable methods of promotion for my hat with the intent of being a successful brand. I have chosen to use multiple methods to promote to ensure all of the suitable advertisement platforms are covered to try and maximise my brand’s awareness across the market.
Why I’ve chosen social media advertising:
Reach a wider audience
Can be informative and easy to maintain
Lots of my target market use it
My second promotional method are vlogs.
This is because:
Again relatively inexpensive
Reach a wide audience
Can show off the hat in a personal, engaging way
Lots of my target market watch YouTube
Another form of promotion that I am going to use are posters or billboards.
Still fairly cheap
Can be bright and informative - visually engaging for younger member of target market
Don’t need internet access to view
The final method of promotion I have chosen to use is sponsorships.
I have chosen this because:
Often effective way to get large number of targeted people to see
Doesn’t require internet access
Lots of my target market follow sports teams and events
In conclusion, I believe that my brand, ‘Falconer Fashion’ would be the ideal brand for Progress Ahead to invest in as:
the hat and brand I have created are completely unique and exciting in the hat market - My USPs include the distinctive design on the front and the use of my brand colours and logo on the hat as well.
I have also ensured the individuality of my brand through a unique brand name, logo, slogan and brand colours, which have combined with my cohesive mix of promotional methods to aid me in developing a strong brand identity.
I have tried to make certain that I make informed decisions, using my market research as a guide to what I needed to include in my plan to satisfy my potential customers.
I believe that I have used my research efficiently and have created a hat and brand that is not only suitable for my brief and target market, but excels in its field.
All of these factors come to the conclusion that you should invest in my hat, as I have proven myself to be well-planned and equipped for the market and am ready to get selling!