P4 Pitch ideas to a client
Video of the presentation presented to the clients bellow.
When giving the presentation, I tried to keep facing the audience instead of facing away to the computer as it could show lack of preparation. I focused as well on giving hand gestures to better present my ideas.
M3. Show an understanding of feedback and be able to respond questions
After presenting I received many different questions concerning the distribution, advertising and industry of my product. The following question's are bellow -
- Why have you chosen to go for something lower quality?
The reason for me having selected to market my magazine as a simple and cheap magazine is more of a question of who am I trying to please in the cinema market. The demographics of the people who purchase the most tickets are between the ages of 15- 24. People between these ages prefer to have information handed to them in an instant without thinking of how much they are spending. My magazine would be specific to them as the magazine would have the information the audience would be looking for in an instant while also being cheap and easy to read through.
The price also has a lot to do with the distribution of the magazine, for example, on the season of March and April, big superhero movies will be coming out such as Captain Marvel, Shazam, Avengers: Endgame. In this season, production would need to be high as the demand and attendance will be one of the highest in 2019. Instead, perhaps September won't have many movies to be anticipated so the demand and attendance will be significantly lower than I previously mentioned.
Another reason is due to the change in the audience's attitude towards certain magazines, after doing research on what magazines did people keep for a longer amount of time, usually, the answer would be fashion, celebrity gossip and fitness magazines. These magazines can be found to have a better quality in the production, for example, the paper and colours, this is because the audience is known to keep these magazines stored in their house to continue reading or keep as a collection. Instead, movie magazines are something people look for information about the latest films, and films can be easily forgotten about due to a large amount of content produced every year. Knowing that my product will be most likely thrown out as new movies come out in the future, I will be needing to keep my production on a budget and I will be doing this by reducing the quality of the magazine.
- How would you use social media?
When this question was asked of me, I was not prepared to answer it because I had yet to consider the endless possibilities opened to my marketing strategy. Now that I consider it, I would use social media primarily to promote the brand of the magazine through my company’s social media and through my cinema partner's social media. To catch people's attention I would also include the chance for the audience to win discounts, voucher's and prizes that can be found within the magazine. I would also use social media to publish film magazines after three months in circulation. Another great way to use social media would be to affiliate myself with other companies such as companies that sell discounted tickets online. I would be using social media to advertise the latest announcements in films and drawing the audience into my magazine for more information. By affiliating myself with other companies I can cross advertise my magazine and reach a larger audience.
- Media industry changing?
I don't see the film industry disappearing, instead, I would say competition between films in cinema and films in video on demand are becoming more apparent than ever before. The cinema industry will always be ahead because of the reasons that it holds many different movie franchises such as fast and furious, marvel, dc, mission impossible and so on. As large media companies hold them and continue to hire arguably the best actors in the business, they will stay ahead. While the industry is strong and will remain that way, other companies such as Netflix have used different strategies to compete with these conglomerates. Firstly by buying rights to characters such as Daredevil and the Punisher which then they produce multiple series from it. Secondly by creating new shows such as and acting as a new platform for lower independent companies and purchasing the right's to distribute depending on the rating and credibility of the production.
Although this is a valid concern, so, therefore, my solution if there are any complications that would arise in the future, I would have my product do some market research to learn more about where the market currently stands and where all the previous audience is moving to. After the investigation, I would have my product adapt to the market by either including new content or features or changing the product completely. To do so I would only require the investors to invest for any new projects.
- Cineview name is a potential copy strike ?
If this was a real production, I would ensure the name is not taken and I would purchase the copyright to the name for my company, as far as am aware, there isn't a name like my magazine. This is although a valid concern due to companies sometimes copying each other's names or making them too similar, this is why doing some research for the name of the product first is very important.
D1. Discuss the client considerations for the creating of the product from the pitch
To ensure greater success when selling my product and distributing it, I will need to follow the voluminous amount of data that is at my disposal which presents the numbers of sales and demographics of the consumer. Utilising this information will help reach a better understanding of the competitive market today. In my presentation I already highlighted how the initial target audience made up the largest consumer numbers for the cinema, which therefor making a product in that related area would be a benefit for sales. If this were to be made in to a real product, I would present more data of what the audiences like and dislike and their demographics such as economical class and so on. Having more data is also essential to have as if this was a real product that I wanted to pitch to companies and investors, I would aim to show data to prove everything I am claiming about the audience they have selected. This help give those interested in the idea to feel comfort and security when taking the risk of investing into my magazine idea.
As I also said in my presentation, the distribution of my product relies on when there will be more sales over the year. After doing research, evidence has suggested that there are more sales in summertime and Christmas Eve than other seasonal times in the year. As there are more sales, distributing the product more in correlation to the amount of predicted sales would increase profits as the possibility of over printing when not needed would decrease. My product would be distributed once every two months as the media industry is always making new movies and tv shows, two months is enough time for announcements for movies and news to fit in the magazine. Another method I would now add is using more digital technologies such as social media and a company online website. I could distribute my product online cheaper as I wouldn’t be needing to print the magazine, this method can be good as I can also store any previous magazines I made and charge customers for those. On social media there will be an announcement telling the audience when the new magazine will be distributed on the online store and the cinema for consumers.
Realistically the magazine would have the help of several designers to ensure it appeals to the audience when glanced at. For the beginning I would be doing research on similar products that are currently purchased by the audience, after so I would produce a first draft and then have a reviewer consult on some improvements before the release of the product. Although also producing new designs for the magazine can also be a benefit as the readers may get tired or seeing the same design on every magazine. Once there has been a new design created I can have a focus group check out the design and collect feedback for further improvements. It would be necessary to always keep on changing the design as the competition would be doing the same, to keep competing in the market and stay relevant for the audience.