LO3: Show understanding of feedback and be able to respond to questions

 This post is a merge document containing the merit criteria 'Show an understanding of feedback and be able to respond to questions'  and the distinction criteria 'Discuss the client considerations for the creation of the product from the pitch' 

After pitching the product to my audience, I was given this feedback/asked these questions:

1. "You talked about how a small business could submit an article, subject to review, to be featured in the magazine. So how do you ensure that the business is viable for the kind of industry you want to promote?"

I responded with- "Our routine regulatory check-up looks at their social medias, so how they present themselves, it also looks at what they do as a business. We want to make sure that the businesses we represent are representative of our core values, which is kindness, trust and reliability. We don't want to promote any businesses that break that and keep good intentions in mind." This question allowed me to build on an important, yet vague area of the pitch to better communicate to the audience how the ins and outs of the magazine work.

2. "Target audience may need to be older, more people leave careers to set up on their own in 40's"

This is very useful feedback for my pitch presentation as it gives me a much better understanding  of who I should be aiming my magazine at from the target audience themselves. By factoring this into my pitch and the production of my magazine, it allows me to better target an audience who are specifically interested in and want to read my magazine. This would increase readership as understanding who our ideal audience is allows us to better target them in the way we advertise and design the magazine.

As a result of this feedback I altered my target audience slide slightly to include this increased age range:

3. "Other than sales, what are your revenue streams going forward for supporting the magazine?" 

 I responded with: "Additional revenue streams come from additional sections in the back of our magazine where people can pay a small fee to have their business displayed in the magazine, with small information they want to present. As well as this I mentioned a supplies section as part of our magazine, that's where advertisers may want to pay to have their advertisements placed in the magazine that fit well within our genre". 

I was then given the feedback based on my pitch- "Finances was good, but you need to be more explicit on revenue streams."

This feedback is very effective as I need to ensure I detail where my magazine will be able to pick up additional revenue streams to the client/my audience so that they are more likely to invest in the magazine. This is because detailing these revenue streams allow my audience to understand how my magazine will create a profit, especially when circulation is low.

So to address this feedback I created an additional slide for my pitch where I detailed my plans for additional revenue streams;

4. "Why do you feel Sheffield is a good place to target a business magazine?"

I responded with: "We felt like Sheffield is quite an under represented city. Its important to look within Sheffield as we think its a great place to grow your own business and we think there is a lot of opportunity here in this city" 

This question was very important and effective as it helped me to ensure that I understood why I would be creating a specifically Sheffield based magazine before production began. It's important to consider this before production as it majorly impacts what the contents are based around. To address this question I created a small additional slide to the begging of my pitch that details why my magazine is Sheffield based. Putting this at the start is important as it's crucial information in understanding and justifying the existence of the magazine. 

 I was then given the feedback- "The market of Sheffield will need you to look at a variety of industries to make the magazine a success."

As a result I will be factoring in to my production plan how I need to explore a wider variety of industries. This is because my magazine aims to be 'THE' business magazine of Sheffield, which means I need to cover all areas of business in Sheffield to be able to achieve my goal and have a magazine that all in the genre can find useful and enjoy.