In a 1–2-page paper in your own words, describe the pitch that resonated most with you in this episode (there are four to choose from) and explain why. Then, explain the product concept as presented to the ‘sharks.’ What gap does this product fill? What process does this product make easier? Why should consumers not only want this product, but feel that they NEED it? Based on what you learned in this unit’s textbook chapter, explain how this product could be best positioned (branding, packaging, etc.) to appeal to consumers.
Out of the four pitches, the one that resonated with me the most was the last pitch, “Pretty Rugged,” primarily due to how poorly executed the other pitches were. Another reason that the product/pitch truly resonated with me the most compared to the other previous pitches was because of how the product was presented. Tracy, the founder, has an established idea of where and in what direction the company wants to head. She has an obvious idea of thinking and recognizes what issues need to be resolved for her company to succeed. Her leadership skills were very evident, unlike other pitches that came before. I also want to mention how she smoothly transitioned as she touched on her family lineage and the significance for her passion for creating such a brand, which would make an investor more comfortable and confident in her commitment to the company.
The product doesn’t necessarily bring any super creative invention to the fashion field, though it combines unique characteristics of clothing to create something quite interesting. A waterproof fur coat is a product that would be marketable and in demand by the public, and it’s a product where customers can be maintained. I was keen on choosing the wedding dress as the pitch I liked the most. However, I don’t believe that selling something meant for rare occasions would retain customers, as dresses are valuable and would be kept by a single person for most of their life.
I don’t believe any of the products from the episode are very necessary for one to purchase; however, this pitch, I can see the idea of why it would be in high demand. Fashion completely overwhelms the world no matter the geographic location, and something comfortable and effective against liquid spills, which tends to be why clothing becomes ruined, can be argued as necessary. Other products like the human-dog bed don’t have an audience to profit off, and the idea of a human-dog bed is just not appealing.
The only issue she presents is perfectly fitted for an investor (A shark) to fill and satisfy the hole. The company needs funding as she established that her most significant issue is a proper employment structure and financing. Coming onto the show was ideal for her. With better finance and proper structuring for the business, a solid foundation will boost her recent success and build the company into something much more.
