From the above video you can see that my video pitch covers many points in this written version. The video pitch gives a quick rundown of the idea and the research that has already conducted towards the enterprise. However this written version has more detail that the video pitch and allows more information to be shared so that people can get a better understanding of Retro Pop.
My enterprise Idea
Boyzone's reunion tour poster
My enterprise idea is a pop music magazine focusing on pop music comebacks. Retro Pop will focus on artists who have split up but got back together in a reunion style tour for example 5ive, Boyzone and Take That. The magazine content will feature interviews from these re-joined bands to the gossip that surrounds the latest reunion. The magazine will be a monthly luxury magazine that will target a niche audience within the UK. A cover price will be decided upon nearer to the launch and online platforms will be free to browse and read.
The target audience for Retro Pop is women aged 21-30 who fall into the social grades C1, C2 and B. These working women have a disposable income therefore able to afford the luxury item such as a magazine. These women are interested in catching up on all the gossip about these bands that they grew up with. This is why that they a niche audience as this the only magazine that caters pacifically for reunion bands.
my mind map for the target audience
Even though the magazine is a specialist magazine I am aware that there is competition facing the magazine. One of the competitions actually provided us with inspiration for the content of the magazine. It was ITV 2’s successful show The Big Reunion
which averaged over 1 million viewers a week. This showed me that there was an audience for a magazine based on reunions.
I am also aware that women’s lifestyle magazines pose the biggest threat to the magazine as the editors of these magazines are looking for a pulling factor to sell copies of the magazines. Taking Now
and Heat magazine
as examples stars of the big reunion
show grace the covers as well as their websites. These magazines use news and gossip from these bands to sell their magazines to the target audience that we aim ours at.
Kerry of Atomic Kitten provides a pull factor for the readers
feature of these big reunion bands going make up free
However our magazine has a unique selling point (usp) to these women as Retro Pop only focuses on these bands. This means the magazine can offer our target audience what they want quicker than the competition. In turn people would me more tempted to pick out magazine up of the shelves as it give them what they want.
- Strengths - we are a specialized magazine with a niche audience,
we have USP of the magazine only catering for pop comebacks which makes us stand out from the completion.
- Weakness – that we are catering for the pop music comebacks and we could potentially loose readers who want that little bit more form the magazine,
printing costs are very high and it may be hard to return a profit as many units will need to be sold of the magazine.
- Opportunities – Retro Pop is aware of the rise of social media will use this to help promotes and develop the brand,
Our target audience is social media savvy and this will help the brand to establish a relationship with the readers and allow them to contribute to the readers contribution pages, for advertisers to advertise to a niche audience
- Threats – competition in the women lifestyle magazine genre,
Lack of funding for the magazine will provide difficulties to get the enterprise running of the ground.
The Retro Pop Brand
My research proved that the best and easiest way to target my audience is through social media as well as word of mouth. The brand will have a huge social media presence on various platforms to help promote the magazine to potential readers. Our presence will be known on social media giant Facebook as well as twitter, instagram, tumbler and pinterest all linking back to the website of the magazine.
The logo will appear throughout all social media websites for our readers to easily identify us and to establish the brand. It will also allow the readers to connect to the magazine and have an input into it. I find that engagement from the readers allows them to feel part of the magazine and will make them want to buy it as they will enjoy reading it. Reader engagement will include tweets, emails, comments and photos of them with the bands back in the day. I feel that this could be a very strong pulling factor for the magazine. Social media will also have a strong impact on our brand Retro Pop and will be key to the success of the magazine.