Written Pitch Desk for the Start-up "Stylist"


Presentation (Elaboration), 2016
32 Pages, Grade: 17,00/20,00
Anonymous

Excerpt

Table of Contents

The problem

Alternative Solutions

Our solution
Business Value and Architecture

The value proposition

Testing the MVP

Persona Cards
Conclusion

Market existing and evaluation

Competitive Advantages

Key competencies and their relation to the successfulness

Business Model Canvas

Marketing and Sales
Marketing actions and measures to support sales

Financial Structure
Revenue Stream
Customer Segments and corresponding prices
Revenue Streams in detail
Cost Estimation
Financial Requirements

Conclusion and Demand

The problem

Many people do not have a good sense of how to match their clothes for a specific occasion like a date, business meeting or just for going for some drinks after work. For example, when you google “badly dressed people” you will get around 9,000,000 results including discussion forums in which people ask for advice. To illustrate this problem regard the following example.

Case:

A young man opened a chat in which he asked which of his clothes he should wear for his date. But as the picture on the right shows this is not just only a boy‘s problem, it’s also a girl‘s problem (she wanted to go out with her boyfriend).

His suggestion: Her suggestion:

illustration not visible in this excerpt

Illustration 1: Retrieved from http://www.mcconnell.af.mil/News/Article-Display/Article/224892/mcconnell-bids-colonel-weiss

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Illustration 2: Retrieved from https://www.flickr.com/photos/julietbanana/3936020296

Suggestions for improvement:

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Illustration 3: Retrieved from https://www.flickr.com/photos/robellisphotography/6364915361

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Illustration 4: Retrieved from https://www.flickr.com/photos/66755335@N05/8049791568

Alternative Solutions

In the fashion apps market three main market leaders can be identified, that is to say Stylebook, Closet+ and Stylicious. The following graph gives a short overview of their features.

Abbildung in dieser Leseprobe nicht enthalten1 2 3

So, all these apps do have things in common but also have their own USPs.

However, three things are missing in all three applications, which can be regarded as our USPs.

1. No personal stylists, with whom people can also meet and chat in reality about fashion, style and fashion, shopping habits or anything else during a nice coffee break.

2. No fashion events where the community can meet each other in person, no cooperation’s with universities which can bring through student’s kind of a fresh wind in the world of fashion.

3. No cultural advice concerning clothing are given (e.g. Business Meeting in China).

Our solution

Our solution will function quite similar like the alternative solutions. That is to say, we will have an App for all Smartphones and Tablets (Android, iOS) and a webpage as a complementation for those who do not use Smartphones. Our solution will be where the alternatives are lacking. Namely in the points indicated above (contact to personal stylists, cooperation with universities and fashion bloggers, cultural advices concerning clothing).

The Business and Value architecture (p. 7) shows that we have two types of users. Namely the stylists and the users who want to get advice. The stylists will come mainly from leading fashion and design universities. The other source of stylists will be bloggers. Those will receive a small performance depending remuneration while the users pay a fee according to their social class. Another source of revenue will be the advertising rates on both our application and homepage.

The user flow below gives a more detailed view of how exactly the application itself will work.

Primary goal: To allow our users to dress better and gain more self-confidence with the help of personal connected stylists.

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Illustration 5: How clothes can be matched. Own illustration.

I) Uploading Clothes II) Selecting date and time for receiving advice III) Outfit suggestion

The orange line indicates the minimum viable product. As can be seen the must-have features are indicating personal details, making clothing choices and the feedback sections. As nice-to-have features buying of clothes online, style statistics, size trackers, recording of under-utilized clothes and the suggestion to donate them but also the real-life meetings with stylists or the Wi-Fi sharing are features that are not must-haves, they are just nice-to have but important to gain competitive advantage.

Business Value and Architecture

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The value proposition

The value proposition shows the perfect market fit of our product with the customer’s needs.

Customers are overwhelmed of the huge offering of fashion stores and their high amount in big cities. So, what do they do? They buy several pieces from different stores which offer different styles and don’t know how to match them. Furthermore, time to do the right matching is also missing due to work and leisure time and consequently people feel more self-confident. On the other hand, the stylists have the possibility to improve their skill set and advance in their careers.

Our application offers a unique value to our customer base. Namely what all the other apps on the market do not provide and which is exactly part of what causes pain to the customers.

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What and how value is created?

several matches at the same time, no insecurity in styling questions due to personal stylist

-> knows how the client feels because he is a human being and not just a programmed computer + money saving (personal designers are usually pretty expensive), service 7/7 24 hours (direct results -> applicable ideas immediately + help when they are stuck, even in the middle of the night).

→ through styling events, meetings of the community, online exercises like style guides or fashion quizzes, organized community trips to fashion weeks, …)

student bloggers can enhance their knowledge easily besides their studies (practice + skills assessment, be creative ->creating instead of applying like it is common at universities, getting better jobs in the future through reviews)

In conclusion customers are demanding an easy-to-use-app that works with Android and iOS, has stylists which are available 7/7 24 hours and a offer a well-developed social area. That is to say, Q&A section, field trips with other members and possibility to meet the personal stylist also in real life and going on a shopping trip with the stylist. Well, the overall value will therefore be the creation of a stylish, beautiful and self-confident community.

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[...]


[1] http://styliciousapp.tumblr.com/

[2] http://www.stylebookapp.com/about.html

[3] http://closetapp.com/

Excerpt out of 32 pages

Details

Title
Written Pitch Desk for the Start-up "Stylist"
Grade
17,00/20,00
Year
2016
Pages
32
Catalog Number
V366922
ISBN (eBook)
9783668457997
ISBN (Book)
9783668458000
File size
6535 KB
Language
English
Series
Aus der Reihe: e-fellows.net stipendiaten-wissen
Tags
written, pitch, desk, start-up, stylist
Quote paper
Anonymous, 2016, Written Pitch Desk for the Start-up "Stylist", Munich, GRIN Verlag, https://www.grin.com/document/366922

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