PMM's Feedback on Jury 1 - 26 Sept 2008

Congratulations!
Clearly all groups (except one) won accolades in yesterday’s presentation. The hardwork of all of you was so evident. The aim of yesterday’s jury was to approve your concepts. All of you got that. So in that sense it was a great achievement.

However …still…we have a long way to go to get that 99.99% perfection. So here is the feedback.

Yesterday’s assessment was done on these parameters :
Concept
Defense of Idea
Market Potential
Competitor Analysis
Value Proposition
Fashion Value Chain analysis
Competitive Advantage
Consumer Need analysis
Overall Presentation

The clear winners were Sneakers and Men’s Intimatewear (MI).
These groups not only fully answered each parameter but also had that “extra” flavour in their presentations. Sneakers had visuals to show fashion value chain. MI had excellent presentation slides and oral communication.

All other groups had answered all parameters, but the “missed” to grab the attention of jury “distinctively”. Let me explain that.When I want to remember yesterday’s presentation, what do I recall? Here it is …

1- Sneakers :
The BATA value chain analysis pictures, the shoes (not sneakers!!!) ,
The female market which jury said is too niche,
Excellent perceptual mapping,
Age vs. income vs. readiness to spend graphs – crowded- confusing- still
informative enough…

2- Intimatewear :
Excellent product photos,
Excellent presentation of pricing of competitors,
The “crowded” fashion value chain table,
The analysis of a graph using chi-test and proposing competitive advantage,
clapping of jury…

3- Eco-friendly Clothing :
The bamboo slide background,
The me-too product visuals,
Excellent calculation of market potential,
Yet again argument eco-friendly natural product vs. eco friendly production,
Argument on who will buy the product- clear demographics of target customer missing….

4- Kidswear
First presentation of the day
Covered all points
Poor explanation of “safety”
Why Mother Care? Why not others…
Somehow loose...

5- Fast Fashion
What-Why-Who-Where ….well structured
Good analysis but crowded visual presentation
Excellent Value chain inputs but poor visual presentation
Good attempt on costing ...



6- Lingerie :
Exciting pictures of product – but wasn’t that bikini??? confused
Teens wear – Funky Trendy : Excellent analysis of gap in market
Dull body language-sleepy,
Dull visual presentation,
Voice of speakers was monotonous

Overall all of you have achieved 10% of the total project.

Leather lifestyle –needs to work much much harder to reach the high standards achieved by other peers.


What is expected now? Here it is :

1) Extremely thorough knowledge of target customer/target family
Can you capture a day’s life of your target customer? How does he/she look like? What does he/she do? Work? Where? Spend? Eat? Hobby? Leisure? Wear now? Watch TV – which channel? Weekends spent - how? Family life cycle? Maslow’s hierarchy motivation? Attitude? Beliefs? Personality? Self-concept? Learning theory – classical conditioning or instrumental or observation? Why will he choose your product over others – avoidance-avoidance or avoidance-acceptance theory? (Priya Mathew)

2) What is your product?
Ingredients in it – are they same as competitors….if yes why? If no, what’s different? How does it look like? Colours, Style, Fit? How will it be produced? Packaged? Cost? How many will be produced? How will you decide that? How will you distribute it? Sell it? (Rekha Dar, Rahul Jain, Anuradha, NS Uppal Industry Mentors)

3) What is your Brand Identity?
Differentiation strategy, Logo, Graphical Identity, Positioning as per customer profile (Tarun Panwar, Sharad, Anjuna, Amit)

4) What is your Promotional Plan?
products to be shown on ramp, models, logo, print media promotion designs -5, video of advertisement in TV, budget, execution plan (Amit, Sharad,Kurien Joseph Industry mentors)

5) Project Plan/Business Plan
The report that has it all: the background, the plan, budget, execution – with numbers…(Rahul Jain, Saurabh, Industry Mentors)

I have given indicators of mentors in brackets so that you have maximum advantage of all the intellectual capital we have made available to you. You are free to take as many opinions/advise as you want – but remember its YOUR decision on what to present finally. Don’t fall into trap of ‘pleasing’ all mentors. Please take ownership of your presentations. Mentors are there to direct. You are the actors. Audience will love you based on your performance- not mentors’.

I hope you will take this feedback in a positive manner. Attend all classes. You will not get this chance later in life. A PR expert will be soon meeting you to discuss promotion. Amit is already doing it by covering advertising. Uppal sir’s inputs are needed to understand cost elements of supply chain. There has been constant feedback that your knowledge on product is low. In fact, this attribute is needed for your placement too. We have lined up Sharmila Katre and Simran to take such workshops for you in coming weeks. The other course team members – Rahul, Tarun, Anjuna, KJ, Anuradha, Sharad, Joshi, Hasan,Aditya, Vishesh……….. ghosh…have I missed anyone ….are there to put the beads of knowledge together for you as and when you intervene.

One last confession. EACH of you has demonstrated extreme hard work. Keep up the work. Don’t loosen up. Remember there is 90% more to be done…no time to relax…

All the best,
Love,
a-proud-Priya Mary Mathew