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Cambridge NATIONALS LEVEL 1/2 ocr.org.uk/enterprise Candidate Style Answers Unit R066: Market and pitch a business proposal ENTERPRISE AND MARKETING

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Page 1: Cambridge NATIONALS LEVEL 1/2 ENTERPRISE AND MARKETING · Cambridge NATIONALS LEVEL 1/2 ocr.org.uk/enterprise Candidate Style Answers Unit R066: Market and pitch a business proposal

Cambridge NATIONALS LEVEL 1/2

ocr.org.uk/enterprise

Candidate Style Answers

Unit R066: Market and pitch a business proposal

ENTERPRISE AND MARKETING

Page 2: Cambridge NATIONALS LEVEL 1/2 ENTERPRISE AND MARKETING · Cambridge NATIONALS LEVEL 1/2 ocr.org.uk/enterprise Candidate Style Answers Unit R066: Market and pitch a business proposal

UNIT R066 CANDIDATE STYLE ANSWERSOCR LEVEL 1/2 CAMBRIDGE NATIONALS IN ENTERPRISE AND MARKETING

2 © OCR 2017

CONTENTSIntroduction 3

MB1

Learning Objective 1 – Be able to develop a brand identity and promotional 4

plan to target a customer profile

Marking commentary on MB1 candidate style answer 7

Suggested improvements to progress candidate style answer to MB2 7

Learning Objective 3 – Be able to pitch a proposal to an audience 8

Marking commentary on MB1 candidate style answer 9

Suggested improvements to progress candidate style answer to MB2 9

Learning Objective 4 – Be able to review the strengths and weaknesses of a 10

proposal and pitch

Marking commentary on MB1 candidate style answer 11

Suggested improvements to progress candidate style answer to MB2 11

MB3

Learning Objective 1 – Be able to develop a brand identity and promotional 12

plan to target a customer profile

Marking commentary on MB3 candidate style answer 17

Why it was awarded MB3 not MB2 17

Learning Objective 3 – Be able to pitch a proposal to an audience 18

Marking commentary on MB3 candidate style answer 21

Why it was awarded MB3 not MB2 21

Learning Objective 4 – Be able to review the strengths and weaknesses of a 22

proposal and pitch

Marking commentary on MB3 candidate style answer 23

Why it was awarded MB3 not MB2 23

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INTRODUCTIONThis resource has been written for teachers to help them mark work accurately and understand OCR’s expectations.

The guide contains candidate style answers for learning outcomes 1, 3 and 4 for this unit, graded at Marking Band 1 (MB1) and Marking Band 3 (MB3).

The accompanying commentary explains why each piece of work was awarded its grade.

For MB1 graded work, additional guidance has been added to suggest improvements that could be made to make it an MB2 graded piece of work.

For MB3 graded work, additional guidance has been added to explain why it was awarded that grade and not the lower grade of MB2.

You MUST NOT allow your learners to copy the samples contained in this guide. OCR moderators have been advised to report any copying, in whole or in part. Misuse of these samples will lead to a malpractice investigation being conducted and would put all submitted learner work at risk of investigation.

Reproduction of Candidate’s Work

The candidates’ work within this document is reproduced for free of charge distribution to teachers in order to help them prepare candidates for examinations. The work has been reproduced as submitted by the candidates. Some of the work may contain third-party material for which we are unaware of the source, the rights owner or the existence of any permission that the learner may have had to use the material. If you are the owner of any third-party material contained within this document, and you wish to question its use, please contact The Resources Team at OCR through [email protected]

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Learning Objective 1 – Be able to develop a brand identity and promotional plan to target a customer profileMB1

Task 1 - Part 1

My product is called Happy Hats. It called Happy Hats because I want people to feel happy when they wear the hat. The hat will be comfortable and therefore make people feel happy to wear the hat. Happy Hats are a summer hat which people will wear at festivals and summer events. They will be fashionable and colourful.

Branding is very important for all businesses. Branding is usually a logo or symbol that a business uses to make it different. Brands are always different to other products. Branding will be used by Happy Hats to encourage people to buy Happy Hats instead of other types of hats. Branding will show customers how Happy Hats is different. The logo or symbol will tell customers that the hat is made by Happy Hats and will help customers choose a Happy Hat product. By using branding well Happy Hats are likely to be successful and profitable. Branding is expensive and can take a long time to create but is very important to product success, e.g. Apple Ipad tablets are successful because of the Apple name and logo.

When developing my brand for Happy Hats there are a lot of different factors that I need to consider which I will now explain:

• Target customers – it is important that my brand appeals to the target customers. It needs to be the colour and design that the potential customers will like.

• Competitor brands – it is important that my brand identity is different to the brand identity of other hat companies. Bands help show how products differ to those offered by competitors so if my logo and brand is the same it will not show how Happy Hats is different.

• Cost – developing my brand identity will cost a lot of money. The methods that I use to develop my brand identity could vary in cost so I need to ensure that the branding techniques that I use are in line with the money that I have available.

The banding techniques and methods that I will use for Happy Hats are:

1. Logo

2. Celebrity endorsement

3. Character.

I need to create a logo for Happy Hats. The logo is one of the branding methods that I will use to create a strong brand for Happy Hats.

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The logo will be simple and in just one green colour. I have chosen green because when I researched it I found that it is a colour associated with peace and nature. Happy Hats will be designed to wear at festivals so peace and nature is in keeping with these colour associations. Green is also a fashionable colour at the moment and Happy Hats will design fashionable style hats.

A celebrity will endorse Happy Hats. It is important that the celebrity chosen is associated with festivals because Happy Hats is a product that is designed for wearing at festivals. The celebrity is likely to play at popular festivals. I have chosen Chris Martin from Coldplay to be my celebrity endorsement. Coldplay headlined at Glastonbury 2016 and Coldplay play at a lot of festivals. This makes Chris Martin from the band ideal to endorse Happy Hats. Chris Martin will appeal to my target customers because my target customers are people who attend festivals. He will be respected by my target market and this respect will make his association with the brand positive and encourage people to buy Happy Hats.

The final part of my brand will involve a character. The character will be fun. Many people who attend festivals are aged 16 to 20 years and will like a fun character. My character is a cartoon monkey wearing a Happy Hat. I can include the character in my adverts for Happy Hats and also run competitions involving the monkey.

I think my brand identity will be very successful. All of the branding methods that I plan to use appeal to people who attend festivals. This is important because people who attend festivals are the target customers for Happy Hats.

Task 1 - Part 2

The promotional objectives for Happy Hats are:

• To raise awareness of Happy Hats

• To differentiate Happy Hats from other hats sold at festivals

• To launch Happy Hats to the market.

The promotional objectives will be for the first year of launch of Happy Hats. New promotional objectives will be set for the second year of trading.

The promotional methods that I recommend to promote Happy Hats are:

• Web page

• Social media, e.g. Twitter and Facebook

• Magazine adverts

• Sponsorship.

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I will use a combination of all of the types of promotional methods to promote Happy Hats. The mix is a mix of digital and offline/traditional promotional methods.

I will create a website for Happy Hats and the information on the pages will promote Happy Hats. I will design the website with a green colour to match the green logo. I have chosen green because when I researched it I found that it is a colour associated with peace and nature. Happy Hats will be designed to wear at festivals so peace and nature is in keeping with these colour associations. Green is also a fashionable colour at the moment and Happy Hats will design fashionable style hats.

Social media such as twitter and Facebook will be used to promote Happy Hats. Festival goers like using social media. Festival goers are often aged 16-20 years and this age group like using social media. This means that a social media promotional campaign will be seen and liked by people in my target customer group.

Adverts in music magazines will be used. The adverts will feature Chris Martin from Coldplay as he is the celebrity endorsement for Happy Hats. People who attend festivals obviously like music and therefore are likely to read music magazines. It is important to place adverts in places that the target market will read and see. The adverts will show the green colour that is included in the logo for Happy Hats.

Finally Happy Hats will sponsor a stage at a music festival. Glastonbury has a number of stages and so Happy Hats will sponsor one of them. In return for the money given by the Happy Hats business there needs to be advertising at the festival so that festival goers and bands know that Happy Hats gave a lot of money. There could be a banner on the front of the festival stage or the stage could be called the Happy Hats stage. At Glastonbury a lot of stages are named after things, for example, there is the John Peel stage who was a famous Radio 1 DJ.

All of the methods will complement each other. They are all different and will be seen by different people. It is important that a range of different promotional methods are used because if you only use one method it will only be seen by people who see that method.

All of the methods that I use for Happy Hats will appeal to my target customer profile. All of the methods appeal to both male and female festival goers. All of the methods are likely to be seen by people aged 16-20 years who like music. All of the methods will help to meet the promotional objectives that I have set for Happy Hats.

Task 2 - Part 1

The pitch that I deliver will be to Progress Ahead witch is looking to expand its accessories range to include a new range of hats. My pitch must be delivered to sell my hat idea to the panel in a way that persuades them that they should stock my hat design.

When planning to deliver a pitch there are several things that I need to consider.

The first consideration is venue. I need to ensure that the venue is big enough to sit all of the members of the panel to listen to the pitch and show my pitch presentation. The venue needs to be easy to access as they may have to travel a long way to attend. I do not want the panel members to be late or stressed when they arrive if they have got lost or stuck in traffic. If they arrive in a bad mood it will not be good for my pitch. The venue needs to be clean and not full of clutter. It needs to have all of the resources that I need to do my pitch, for example a projector and screen to show my pitch presentation.

My audience will be the investors from Progress Ahead to decide whether to stock Happy Hats. They will want to make the largest profit possible for their business so they will be interested in hearing about the potential profit to be made from stocking Happy Hats. They will be serious business people and I will need to use business terms in my pitch to show that I know what I am talking about.

The audience are likely to ask me questions at the end of the pitch so it is important that I allow time at the end for them to ask any questions. Before my pitch I will think about possible questions that they might ask so that I can think about how I might answer any likely questions.

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My objectives from doing the pitch will be able to convince the decision-making panel to stock my hat design. I want to make profit from the hats and will do so if they stock my product. I also want the panel members to enjoy my pitch and I hope that they find it interesting.

I plan to use a PowerPoint presentation during my pitch. The slides will include all key information and images to support what I say. It will give them something to look at and watch whilst I talk. Please see the slides for my practice pitch that I have produced for this assignment.

My personal appearance is important. I am a business person and need to look serious. I will dress smartly in a suit and ensure that I look tidy. I will brush my hair so that it looks neat and tidy. I will also think about my body language and ensure that I stand up straight. If I look business-like the decision making panel from Progress Ahead are more likely to stock my product.

Possible questions from the audience that may arise during the pitch and how I might answer them.

1. Why will people want to buy Happy Hats?

People who go to festivals will want to buy Happy Hats because it is a fashionable product. The hats will be of high quality and will be endorsed by Chris Martin from Coldplay who will make people want to buy Happy Hats. Happy Hats will have a green logo and will be different to all other hats available on the market.

2. Will your product make a profit?

Yes, Happy Hats will make a profit during the first year because people will want to buy Happy Hats. Festivals are very popular at the moment and Happy Hats will be available to wear at all of the main Festivals.

3. How will you promote Happy Hats?

Happy Hats will have a website. It will also be promoted by social media, music magazine adverts and sponsorship. We have a large promotional budget for Happy Hats to ensure that it is successful and meets all promotional objectives.

4. What do you know about business?

I am studying for a Cambridge National in Enterprise and Marketing which has taught me a lot about business. I enjoy studying business as it is interesting. I am also good at Maths which will help me to manage the budget for Happy Hats.

Marking commentary on MB1 candidate style answerThe learner provided a limited description of why businesses use different branding methods. They gave one example regarding Apple but the example lacked depth to evidence a detailed knowledge. Joe created a brand identity design for Happy Hats but only made a limited reference to how the brand appeals to the specific customer profile. Basic promotional objectives are listed and the mix of promotional methods is outlined. An attempt is made to describe how the methods relate to the customer profile, but it lacks detail.

Suggested improvements to progress candidate style answer to MB2The learner has only provided a basic description of why businesses use branding methods and techniques. More detail about each of the benefits with 2-3 examples would help move to MB2. Three factors to consider when planning a brand identity were briefly described. More factors and more detail and an explanation of the key factors would help to enhance the work. More reference to how the brand appeals to the specific customer profile would enhance the submission. There is currently only limited reference to the type of customer that the hat is aimed at. More detail regarding how the methods used complement each other would further enhance the work as this section is currently weak and under-developed. Three promotional objectives are identified which are not specific. SMART objectives are required for a higher grade.

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Learning Objective 3 – Be able to pitch a proposal to an audienceMB1

Script

Welcome to my pitch. My name is Joe and I am going to pitch my business proposal for Happy Hats.

My product is called Happy Hats. It is called Happy Hats because I want people to feel happy when they wear the hat. The hat will be comfortable and therefore make people feel happy to wear the hat. Happy Hats are a summer hat which people will wear at festivals and summer events. They will be fashionable and colourful.

Branding is very important for all businesses. Branding will be used by Happy Hats to encourage people to buy Happy Hats instead of other types of hats.

My branding methods will be a logo, celebrity endorsement and a character.

My promotional objectives are to raise awareness of Happy Hats. To differentiate Happy Hats from other hats sold at festivals. To launch Happy Hats to the market.

The promotional methods are Web page, Social media, Magazine adverts and Sponsorship.

I will design the website with a green colour to match the green logo. I have chosen green because when I researched it I found that it is a colour associated with peace and nature. Happy Hats will be designed to wear at festivals so peace and nature is in keeping with these colour associations. Green is also a fashionable colour at the moment and Happy Hats will design fashionable style hats.

Social media such as Twitter and Facebook will be used to promote Happy Hats. Festival goers like using social media. Festival goers are often aged 16-20 years and this age group like using social media.

Adverts in music magazines will be used. The adverts will feature Chris Martin from Coldplay as he is the celebrity endorsement for Happy Hats. People who attend festivals obviously like music and therefore are likely to read music magazines.

Finally Happy Hats will sponsor a stage at a music festival. Glastonbury has a number of stages and so Happy Hats will sponsor one of them. In return for the money given by the Happy Hats business there needs to be advertising at the festival so that festival goers and bands know that Happy Hats gave a lot of money. There could be a banner on the front of the festival stage or the stage could be called the Happy Hats stage.

Happy Hats will be priced at £15 each Happy Hats is only available for adults initially in a small, medium and large size. All hat sizes will be the same price.

All of the methods that I will use for Happy Hats will appeal to my target customers. All of the methods appeal to both male and female festival goers. All of the methods are likely to be seen by people aged 16-20 years who like music. All of the methods will help to meet the promotional objectives that I have set for Happy Hats.

Questions?

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Marking commentary on MB1 candidate style answerThe learner pitched their business proposal to an audience. They carried out a practice pitch and refined their pitch plans and supporting materials after receiving feedback from the supportive audience. They planned their pitch and used basic visual aids to deliver. They outlined their business proposal using elementary presentation skills and attempted to answer all questions asked. At times the learner spoke in a monotone voice and was not attempting to persuade the audience to accept their business proposal. They appeared unsure of some of the content and relied on reading from slides and notes which hampered their eye contact with the audience.

Suggested improvements to progress candidate style answer to MB2The learner could also have used additional materials to support the pitch, e.g. sample hat materials. They focused very much on the branding and promotional aspects of his product which are topics covered in R066, however, they could also have included more information about other aspects of their business proposal which they created in unit R065. The learner delivered with a monotone voice and rushed the content at times. A more confident and passionate delivery style would help increase the grade awarded.

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Learning Objective 4 – Be able to review the strengths and weaknesses of a proposal and pitchMB1

Task 4

For this final task I need to review my pitching skills and business proposal. This is important as I need to show what I have learnt from my experience. Within the reviews I will use a range of sources of evidence including self-assessment, feedback from other people and my personal reflections.

I will firstly review my own pitching skills.

My time management was good for the pitch. The pitch lasted for five minutes which was within the time that we were told. In the practice pitch I was under the required time so I spoke slower and added more detail to what I planned to say in order to fill the time.

I spoke clearly during the pitch. I used my script and slides to prompt and guide the content of what I said. My witness statement states that I lost eye contact with the audience when I read from my script. This is true but I did try to look at the audience but was afraid of missing out some important points.

I made a PowerPoint to show during the pitch. The slides included some of the text that I planned to talk about and also some pictures of my hat design. I think they helped to add interest to my pitch and I would use PowerPoint again.

I was asked questions at the end of the pitch. This was scary as I do not like answering questions. During my lesson we were told to think about possible questions and write answers for them. I was glad that I did this as some of the questions that I had thought about were asked during the pitch and I knew what to say.

Rehearsing my pitch was helpful. I thought that it was a waste of time but soon realised that it made me think about issues that I would have otherwise not considered. For instance, I did not think about offering water for the audience, but during my rehearsal, a member of the audience had a bad cough and had to go out and get a glass of water. For the real pitch I gave all of the audience a jug of water and some glasses so that if anyone had a cough they would not miss my pitch. If a member of the audience is away for any part of the pitch they may miss an important part of my talk.

I made a lot of changes after my practice pitch. For instance I added more photos to my slides and I also added more information about the promotional methods that I plan to use for Happy Hats.

I will now review my business proposal.

Strengths – Areas for development:

• Hat design – fashionable

• Name of product – fits with brand identity designed

• Brand identity ideas – detailed and relevant to Happy Hats

• Promotional plan – lots of ways of promoting the product

• Costs/budget for my product

• Likely success of the product

• Add more information about the pricing strategy for the product

• Relevance to customer profile – could develop additional ranges of hats to appeal to diverse types of customers.

I have reviewed my business proposal contents. I think my business proposal will be successful.

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Marking commentary on MB1 candidate style answerThe learner carried out a basic review of their pitching skills. They covered some key areas and considered what they did well and what did not go so well. A basic review of their business proposal has been completed which identifies strengths and areas for development. The review is limited to only the content produced for unit R066. They considered the feedback received from their assessor within the witness statement, self-assessment and comments from peers.

Suggested improvements to progress candidate style answer to MB2To move to the next mark band the learner needs to add more detail, e.g. the review of the business proposal is presented in a table with key points included, however the statements are little more than bullet points. More detail would be required to explain why the areas are strengths or areas for development. Examples to illustrate why they are strengths or areas for development would enhance the work further.

Feedback from other students in my class confirmed that my business proposal is likely to be successful. The students are of a similar age to the target customer group for the hats and they said that they would buy Happy Hats. They thought that the price proposed was appropriate and the multi-platform promotional will ensure that a high proportion of the target customer group are reached.

After watching the pitches of other members of my class I think that I need to add more information about the pricing strategy for my product. I only allocated one price group for Happy Hats, however, in reality different colours and designs will be offered to suit all tastes. Each style will cost a different amount to produce and therefore the price needs to change in order to make a profit.

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Learning Outcome 1 – Be able to develop a brand identity and promotional plan to target a customer profileMB3

Task 1 – Develop a brand ID and promotional plan to target your customer profile.

Part 1 – develop a brand for your product

My hat is going to be called Headz Start. It is a range of hats for children aged 3 to 11 years. The name includes ‘start’ to indicate that the hat is for younger people. The hats will be designed to wear on cold days and all bobble hat design.

Although all of the hats will include bobbles, there will be a range of colours and patterns. There will also be a special Christmas range. The hats will differ to others on the market because they will all be hand-made and will include a special label to show that they were lovingly made by hand. This label will be part of the hat brand as I will discuss later in this task. The word brand comes from the tradition of farmers marking their animals (such as cows and horses) by putting a symbol on their fur. This symbol is now used by businesses to mark their products.

The target customer profile for Headz Start will be:

• Boys and girls

• Aged 3-11

• Looking for a fashionable hat which is different to others on the market

• Prepared to pay a little more for something that is good quality.

Businesses create brands to differentiate their products from others on the market. This means that the brand helps to identify one product from another and also communicates to people what the product’s USP is. Lots of methods and techniques are used to create a brand including:

• Logo

• Symbol

• Name

• Colour

• Sound/jingle

• Strapline

• Character.

Together the methods and techniques make up the brand. Tesco use a range of branding techniques to show how it is different compared with other supermarkets. It has a logo, the slogan ‘every little helps’, corporate colours (white, red and blue), the name ‘Tesco’ and use of ‘families’ of sub-brands and packaging styles, e.g. Tesco Essential products are packaged similarly and Finest products are also packaged similarly and form part of the Tesco brand. The brand must deliver a clear message to all potential customers.

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Branding can offer a lot of benefits for businesses:

• Trust – you can trust that a brand will always be of a specific quality standard.

• Unique – a brand will show how a particular product is different to others available

• Customer loyalty – many customers are loyal to particular brands, so businesses benefit from repeat custom

• Added value – a brand on a product can add value to a product and allow a business to charge more for it, e.g. Nike trainers typically cost more than unbranded trainers

• Quality – usually branded products are of a higher quality than unbranded products.

Due to all of the benefits of branding businesses are likely to make more profit. Customers are more likely to choose the product initially, make repeat purchases and will be prepared to pay a higher price.

When developing the brand identity for Headz Start, I had to consider various different factors:

• Competition – the brand identity needs to be different to others on the market. This is so that people will know that my brand is different to others. If they are all the same people will not be able to identify any differences.

• Target customers – the brand identity needs to be valued by and appeal to the target customers. Headz Start will be a children’s brand and so the brand needs to appeal to younger people.

• USP – the brand identity needs to reflect the USP of Headz Start. It will need to be associated with the USP so that whenever anyone sees the brand they will associate it with the values that I want to communicate.

• Ease of recognition – the brand identity should be simple so that it is easy for people to recognise and communicate the brand values.

The brand identity for Headz Start will consist of four main branding techniques:

• Logo and label

• Brand name

• Strapline

• Celebrity endorsement.

The logo will be clear so that it is easy to recognise. The colours and font used are designed to appeal to children as they are the target market. The font used will be orange as this is going to the brand colour. Orange is a warm colour and by choosing a warm colour it will help people associate the hat as being warm which people will need on a cold day. Orange is a bright colour which will help the logo to stand out from others available. This is critical if the label on the hat is to work as it is no good to use a colour that will not stand out. The brand is fun because bobble hats are not a serious type of hat to wear and will be associated with having fun in the snow with friends. I did not put any graphics on my logo so that it stays looking fashionable, clean and uncluttered. The logo and brand name needs to stand out and if it is hidden amongst some graphics it will not be effective and not generate the benefits that branding can offer.

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headz startTo create my logo I drew three different versions to consider. I asked a group of ten people for their views and to choose the best one. After carrying out this research I selected my logo. It is important to get other peoples’ views because although I might like the logo my customers may not. If the target customer profile hate the logo and brand it will not be effective and I will not be successful and meet my business objectives.

A key part of the brand will also be the label that will be stitched the front of each hat. It is difficult to put a logo on a hat so that it is visible to everyone; however, this is important if the brand is going to be successful. When you buy a branded product it is important that others can see that you have spent money on the branded product as the status is part of the appeal of buying a branded product. It is no point putting the logo on a label inside of the hat that nobody can see when it is being worn.

The strapline will be ‘Your start in getting aheadz’. This strapline communicates that purchasing the hat will help the child to get ahead in the fashion stakes. It acknowledges that the child is young and that wearing the hat will be one of their first fashion statements. It is a positive strapline and communicates that it is a brand that is worn by ‘winners’. The strapline will be clearly included on all promotional activities that I will describe later in this assignment. The strapline will always be shown in this font in an orange colour to match the logo. The font style is the same as for the logo.

your start in getting aheadz

A celebrity will endorse the hat and their face will be included in all advertising associated with the brand. The celebrity I plan to use is Fozzie Bear. Although Fozzie is not a real person, he will appeal to children in my target customer group. He is fun and will be loved by children. The Muppets are not terribly popular at the moment so my branding efforts will resurrect the Fozzie Bear character. Many parents may have loved Fozzie as a child so again the branding technique will also appeal to the parents who also need to be attracted to buy Headz Start as they are the ones who will pay for the hats. My mum, for example, was a Fozzie Bear fan when she was young and she said that she would be attracted to buy a hat with his endorsement. Although this is only one persons’ view, I think it is likely to be shared by others. Fozzie can be used as a cartoon character in the adverts. I will also run competitions linked to Fozzie Bear which will help to strengthen the brand appeal. Fozzie Bear has the same personality as the brand identity that I have designed. Fozzie also has orange fur to match the colour of the font used for the brand name and strapline.

I could also introduce a Fozzie Bear style hat which also links to the celebrity endorsement and also is a novelty item to strengthen the brand identity. The hat would look like the one below, but my Hatz Ahead one would have a bobble on the top.

Example of label on hat to show the

brand

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Brands often have a brand personality. This is where a brand identity is described in a similar way to a person. The brand personality of Headz Start is fun, friendly, comfortable, fashionable, warm and quality.

The brand identity is likely to be very successful. The UK population has a growing number of children, therefore the target market for the hat is increasing in size which means that the number of people who will purchase it is likely to increase.

The product will also be successful because winters are getting colder and knitted hats are becoming more popular. Children are often excluded from fashion products so the fact that my hat is targeted at children makes it different to others on the market.

Part 2 – develop a promotional plan for your product

I need to create a promotional plan for Headz Start to communicate the brand and product to potential customers. If I do not promote the brand and product well customers will not be aware of it, or have a desire to purchase Headz Start. Therefore successful promotion is critical to the success of my product and brand.

Before planning my promotional plan I need to write some promotional objectives. All of the activities that I carry out to promote Headz Start will support the achievement of the promotional objectives. The promotional objectives are:

• To inform customers of how Headz Start is different as a result of being a high quality, handcrafted product.

• To persuade customers to buy as a result of the unique label on the exterior of the hat.

• To launch Headz Start onto the market.

• To achieve a 5% share of the children’s winter hat market by the end of the second year of trading.

I will use a mix of three different promotional methods to achieve my promotional objectives. The methods that I will use are:

• Television advertising

• Cinema advertising

• Sponsorship.

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I chose television advertising because it is easy to target my target customers by advertising in programmes that this group of people watch. There are lots of childrens’ television programmes that I can use to advertise Headz Start. I will keep the adverts fun, with fashionable looking children playing in the snow whilst wearing a Headz Start hat. The advert will include a close-up of the special Headz Start logo as this is one of the ways that the hat differs to others on the market. The advert will also include as he is my celebrity endorsement. It is important to link all elements of the brand and promotional campaign together to increase the effectiveness.

I will also advertise Headz Start in cinemas. Cinema is popular with children and again I can target movies that children watch to show the advert. There are always more childrens’ movies available during the run-up to the Christmas holidays which will be my peak time for selling Headz Start hats. The content of the cinema advert will be similar to the television advert so that they complement each other.

Finally I will sponsor a Christmas ice rink in five shopping centres in the UK. Many shopping centres open outdoor ice rinks during the run up to Christmas and they are popular with children and families (my target customer group). It would be easy to put the Headz Start brand and logo on the boards around the ice rink. As an outdoor, cold activity many people visiting the ice rink will appreciate a hat to wear so as part of the sponsorship deal the shopping centre will be required to sell Headz Start hats at the side of the rink. Sales are likely to be high due to the goodwill generated by the sponsorship and fact that the visitors will be cold.

All promotional activities (including the ice rink sponsorship) will clearly show the logo, label on the hat, brand name and strapline ‘Your start in getting aheadz’. This strapline communicates that purchasing the hat will help the child to get ahead in the fashion stakes. It acknowledges that the child is young and that wearing the hat will be one of their first fashion statements.

I thought about using social media or a website to promote the hats but feel that these methods will not be effective for my target customer group. Most young children are not allowed to use social media so it will be ineffective to target my customer group in that way. Many of them will not search the internet for a hat so again creating a website will not be terribly effective to target the actual customers, although their parents may use the web.

Although parents will buy the hat for their child, I think it is more important to promote to children direct. Most children nowadays have input into the clothes that they wear and by targeting them they will crave for the hat and then pester their parents to buy it for them.

Clearly it is important that all promotional activities appeal to the target customer group, and the adverts will always show happy children having fun together and looking good.

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Marking commentary on MB3 candidate style answerThe learner offered a detailed description of the benefits of branding and effectively applied examples to demonstrate their points. They explained in detail the factors that need to be considered when planning a brand identity and created a well-considered and justified brand identity which centres on the needs of the customer. The combination of brand methods and promotional mix are complementary with a consistent message portrayed. Specific and realistic promotional objectives are explained and complement the promotional mix suggested.

Why it was awarded MB3 not MB2All elements of the brand and promotional mix complement each other and an holistic approach has been taken with the customer in the centre of all decisions made. All aspects are clearly justified in detail and the justification links back to the customer. All aspects of the branding techniques and promotional methods are consistent and mutually support each other. SMART promotional objectives are proposed.

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Learning Objective 3 – Be able to pitch a proposal to an audienceMB3

Task 2 – Develop a pitch for your proposal.

Part 1 – an explanation of the factors you must consider when planning for a pitch

My pitch will be to some staff from Progress Ahead which is looking to expand its accessories range to include a new range of hats. My pitch must be delivered to sell my hat idea to the panel in a way that persuades them that they should stock my hat design. The panel members will be looking to stock the hat that will deliver the most profit. In order to be profitable the product must be desirable, popular with the target market and different to others on the market. These are the key things that I will communicate in my pitch presentation.

There are a number of factors to consider when planning to deliver a pitch.

Venue – the venue was set by my teacher and will be the Conference Room at my school. The layout of the room is in a horseshoe shape with me presenting at the front. This layout enables all of the audience to see me clearly and I can see all of their faces which is important to help me to persuade them of the success of my product. The venue is business like and comfortable as all of the audience will sit on padded chairs.

Audience - my pitch will be to some staff from Progress Ahead and I need to persuade them to stock my hat. The panel members will be looking to stock the hat that will deliver the most profit. In order to be profitable the product must be desirable, popular with the target market and different to others on the market. These are the key things that I will communicate in my pitch presentation. I need to use business words in my pitch so that the audience knows that I understand business studies theory. They will not want to invest in my product if they think that I do not know anything about business. They will want someone who does not waste their time and so I need to keep everything to the point, whilst giving them all key points to make their decision. As my audience consists of professional business people I can use business terminology in my pitch. If I were to deliver the pitch to an audience of non-business specialists I would need to take more care with my use of business theory.

The audience are likely to ask me questions at the end of the pitch so it is important that I allow time at the end for them to ask any questions. Before my pitch I will think about possible questions that they might ask so that I can think about how I might answer any likely questions.

Objectives – my objective is to persuade the staff to stock my hat. I need to ensure that I give a professional, and well-rehearsed pitch which convinces them of the value of stocking my hat product.

Media – I will use PowerPoint during my pitch to support me. The slides will be produced to a professional standard and include all key information. I will give all members of the audience a handout with a copy of all slides so that they can make notes whilst I am presenting and also so that they have something to take away after my pitch. I have been careful not to use too many PowerPoint slides as there can be a danger of ‘death by PowerPoint’ and I want them to

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also focus on me as I can use my presentation skills and personality to persuade them to stock my product. I plan to keep my PowerPoint quite simple, but professional. I have decided to not use too many special effects in case there are technical problems during the pitch. Although special effects and graphics are good to get attention and make the pitch memorable, there is a risk that they may not work on the day due to technical problems and this could cause problems for me. I want to be confident that my visual aids will not let me down and by keeping everything simple I can have more confidence.

Personal appearance - I am a business person and need to look serious. I will dress smartly in a dark coloured suit and ensure that I look tidy. I will tie my hair back so as to look professional. All jewellery and make-up will be kept to a minimum. I will also think about my body language and ensure that I stand up straight and not slouch. I will try to maintain eye contact at all times with the audience as this is important to keep their attention as will help me to appear more confident. I think I may be a little nervous, however, I will try to hide my nerves by taking deep breaths before starting the pitch and telling myself that this is only an assessment so if it all goes wrong I will only lose grades and not actual money as would be the case in the real business world.

My pitch will be structured so that there is a clear introduction, content and a final persuasive conclusion. The beginning and end are crucial as some panel members may make a decision in the opening 30 seconds so I need to be good from the start. The end is what they are most likely to remember and it needs to summarise the key points from the pitch.

The audience will ask questions at the end. Clearly I have no way of knowing what those questions are likely to be. However, if I think about possible questions I can then think of possible answers to them. I may also be able to use some answers prepared in response to different questions.

Here are some possible questions that I might be asked:

1. Why should we stock Hatz Ahead?

Hatz Ahead is a new product for children. It is predicted to break-even within one year and will be popular as it will coincide with the new Fozzie Bear movie that will be released in 2017.

2. What makes your product different to others on the market?

It has a clear USP. A handmade, fun bobble hat for children. It will have a label at the front of the hat to show the brand.

3. How much profit do you plan to make in your first year?

We will break even at the end of the first year.

4. What do your customers think of Hatz Ahead?

I carried out primary research via asking 100 people in the target market to complete a questionnaire. 69% of people said that they would buy Hatz Ahead.

5. What knowledge do you have of running your own business?

I have studied business since I was at school and have a Cambridge National qualification in Enterprise and Marketing. I am creative which is important as I will develop exciting and successful promotional campaigns.

6. What skills can you offer?

I am creative so good at designing promotions, and good at maths so will be good at managing the finances.

7. What price do you plan to charge?

A penetration pricing strategy will be used at the start. The hat will be cheaper than others on the market to help to develop brand loyalty. After the first year, i.e. once we have broken even, the price will slowly rise.

8. How many colours and designs of Hatz Ahead do you plan to offer?

Hatz Ahead will be offered in over 40 colours and designs so that there is something to suit all tastes. However, all hats will have the distinctive Hatz Ahead brand label at the front.

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At the end of the pitch I also plan to ask the panel a question or two. This will be quite daunting, but it will show my confidence and keenness to win the contract.

My pitch script

Here is my script for my pitch that I delivered to my formal audience. In the pitch I used colour coded cue cards so I copied this text onto the colour coded cue cards.

Welcome to my talk and thank you for giving me the opportunity to speak with you today. My name is Jo and I am going to pitch Headz Start.

During today’s pitch I plan to cover

My hat is going to be called Headz Start. It is a range of hats for children aged 3 to 11 years. The name includes ‘start’ to indicate that the hat is for younger people. The hats will be designed to wear on cold days and all bobble hat design.

The brand identity for Headz Start will consist of four main branding techniques:

• Logo and label. The logo is orange and will be a simple design to show the brand name only. Orange is a warm colour to symbolise how warm the hats are and is the brand colour. A label with the logo on will be stitched to the front of all hats – this label and position will be unique for Headz Start only.

• Brand name

• Strapline – my strapline is written in the same font as the brand name is on the logo. This will mean that they complement each other.

• Endorsement by Fozzie Bear. I considered real people but chose a fictional character as I thought this would be easier and also appeal to the children in my target market better. Many parents may have loved Fozzie as a child so again the branding technique will also appeal to the parents who also need to be attracted to buy Headz Start as they are the ones who will pay for the hats. Fozzie also has the same personality traits as the Headz Start brand.

Here are my promotional objectives

I will promote Headz Start on the TV on childrens programmes targeted at the target age group for the hats. The adverts will include Fozzie Bear. I will also use cinema advertising during films targeted at children and also sponsor an ice rink in five shopping centres across the UK.

I will use penetration pricing as the lower price will help Headz Start to break onto the market. Once the product has broken even after the first year the price will start to rise.

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To conclude Headz Start is going to be a very successful product. It will break even in a year, has been produced on the back of thorough market research, will be promoted using a range of methods and has a clear and targeted brand identity plan. It also has a clear USP and is targeting children who are growing in numbers in this country.

Thank you once again for listening and I am now very happy to answer any questions that you may have.

Marking commentary on MB3 candidate style answerThe learner carried out a practice pitch and refined their plans and supporting materials after receiving feedback from the supportive audience. They planned their pitch and used professionally presented visual aids to deliver. They outlined their business proposal using proficient presentation skills and answered all questions asked with detailed and expert responses. They presented their work to a professional standard and communicated a professional and competent business image.

Why it was awarded MB3 not MB2The learner supported their peers during the practice pitch effectively. They gave both complementary and developmental feedback to all students in a professional manner. This support is a quality of MB3. The learner planned their pitch to a high standard and developed professional resources that were well tested in advance of the pitch. They outlined their business proposal in detail and answered all questions posed by the audience comprehensively and without hesitation which demonstrated their thorough knowledge of the proposal.

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Learning Objective 4 – Be able to review the strengths and weaknesses of a proposal and pitchMB3

Task 4 – Review

After completing the pitch my next task is to reflect on the whole experience. I plan to divide my reflection into two areas – my skills and the content of my business proposal. This is important as I need to show what I have learnt from my experience. Within the reviews I will use a range of sources of evidence including self-assessment, feedback from other people and my personal reflections.

Part 1 – review of my personal skills.

I will firstly review my own pitching skills and plan to go through all of the headings of the witness statement in turn.

My personal appearance was professional. I wore a smart black trouser suit for the pitch and kept my hair tied back with minimal jewellery and make-up. I did not wear any bright colours as I felt that my appearance helps to give a positive/negative image.

I practiced speaking louder before the pitch and think that I managed this. Nobody commented that they could not hear me during the pitch which is pleasing. I used business terminology during the pitch to demonstrate my knowledge and understanding as that it crucial to convince the audience that I know what I am talking about. I also tried to vary my tone during my talk but I think that I still need to do some more work on developing this. I was nervous and I think I sounded a little monotone at times. I needed to sound a little more enthusiastic during a pitch to convince the audience to accept my product.

The cue cards helped me to maintain eye contact without losing my place. I highlighted the key points on the cue cards which again helped to make them easy to read. I would like to be able to do a future pitch without cue cards and memorise what I need to say but unfortunately did not feel confident enough to do this on this occasion.

The PowerPoint slides were helpful and all members of the audience received a full printout of the slides to take away. The slides were clear with only key points included. I then talked and explained all of the points in detail which worked well. It would have not been very effective read directly from the slides.

I did not feel very confident when presenting the pitch but on the witness statement the assessor said that this was well-developed. I think I must of hid my nerves well as I was very nervous. However, I do think that some nerves helped me to perform well as it is not effective to be too comfortable and complacent.

I tried to meet the needs of the audience during the talk. Before starting the pitch I reminded myself of the audience’s objectives so they kept in my mind during my pitch which I found effective. The needs of the audience were also satisfied when I answered their questions at the end. I was pleased that I was able to answer all questions in detail and did not need to use my holding strategy.

I was delighted with my time management as my pitch lasted 9 minutes. I felt that I covered all key points required by the assignment in full and was not rushed. I think the questions lasted for almost five minutes so the full allocation of time was used. I was pleased not to overrun as the audience may have cut me off as they are very busy people working to a tight timescale.

Overall I was very pleased with how the pitch went. I think that I have learnt a lot from the process and it has helped to develop my presentation skills. Few people like doing presentations but probably the more that you do the better you become.

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Part 2 – review of my business proposal

I have developed my business proposal over a long length of time as it started in unit R065.

I think the nature and design of my product is good. However, I think that I am being a little ambitious by having so many designs to start with. I have about thirty different variations of the hat available which is good for choice but may create diseconomies of scale. I think that I should limit the colour/designs to eight options to start with and then after six months, if successful, launch some additional ones. This will help to manage the financial side of the business (economies of scale) and also focus the product line.

The product is likely to be successful because bobble hats are very fashionable at the moment. The UK appears to be getting colder and there are growing numbers of children due to social change.

My product is unique due to the branding/label used and also that it is a hand-made quality product.

I think that the target customers will like my bobble hats. They are fun and will be promoted in a way that will appeal to my target customers. I need to target both parents and children, but as the children are young, the parents are likely to also be with the children whilst watching television or visiting the cinema so will see it too.

My brand identity ideas are good, but are still in draft format. I would need to develop some mock-ups of the hat and brand label to show and use for market research. The brand is developed with the target customer group in mind to meet their needs and appeal to their tastes.

My promotional plan uses a range of different medias which all appeal to the target customer group. I would use a consistent message across all of the promotional medias to ensure that they complement each other.

My pricing strategy involves penetration pricing initially. My brand will be unknown and so by starting off a little cheaper than similar products customers will be encouraged to buy from my business. Over time I should develop a group of loyal customers and the price can rise accordingly. After a couple of years I would imagine that the price will be slightly higher than similar hats but the market will accept this as they will be prepared to pay more to benefit from the brand name (added value).

The main costs for my product will involve promotion. The promotion mix suggested is not cheap as television and cinema are both expensive options. However, the two options will give the product a lot of exposure and will effectively target the customers that I am aiming for. This will stop too much wastage so despite it being expensive it is likely to be effective and efficient use of resources.

Overall I think that the product will be successful. I really believe in the product as it has a clear USP and by targeting children it is aiming for a customer group that is rarely considered for fashion products. The hat is both practical and fun which means that it will appeal to children and their parents.

Marking commentary on MB3 candidate style answerThe learner completed a comprehensive and detailed review of their own pitching skills and business proposal. They approached the task in a logical manner and used the headings of the witness statement to work through all of the main areas to consider relating to personal skills. The learner also reviewed the content of the business proposal and considered all aspects including those covered in unit R065 to produce a holistic review. They used feedback from the witness statement, peers and self-reflection to inform their reviews.

Why it was awarded MB3 not MB2The learner’s work fits into MB3 because it is detailed with examples to illustrate points. They considered all areas and produced an honest review of their strengths and areas for development. Their work is constructed in a logical manner and written in a coherent style.

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