Pitching and Negotiation Skills Report: Elizabeth Galton Limited

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Pitching and negotiation skills

TABLE OF CONTENTS
Introduction......................................................................................................................................1
LO3..................................................................................................................................................2
P5 Develop an appropriate pitch applying key principles that achieve a sustainable competitive
edge..............................................................................................................................................3
M3 Examine the pitch process in an organisational context, evaluating ways to maximise the
chances of a successful pitch.......................................................................................................6
LO4..................................................................................................................................................7
P6 Assess the potential outcomes of a pitch................................................................................7
P7/M4 determines how organisations fulfil their obligation from a pitch, identifying potential
issues that can occur..................................................................................................................10
Conclusion.....................................................................................................................................14
References......................................................................................................................................15

Introduction
The negotiation is an approach to meet at some of the settlement points in which no other parties
are involved in a contract that suffers from a loss and the pitching means is to implement the
innovative ideas in order to enhance the huge consumer base for a particular product of an
organization. Also, pitching is the procedure of supervising and executing the accurate thoughts
which help in building the good market image and goodwill. The report will analyse a
negotiation, its stakeholders and steps in a negotiation process that gives an idea to small
business. The report will study the stakeholder need and desires in the negotiation process. At
last, the report will take a competitive advantage and pitching outcome in an account that is
drawn from the negotiation process.
The report is on the Elizabeth Galton Limited which design the custom made jewellery. So the
organization has decided to create the multi stands necklace with attractive materials that help in
attracting the maximum customer as well as also helps in enhancing the sales and profits, which
is beneficial for the business. But due to a limitation of the funds, the organization is facing the
problems. The report will develop the proper pitch that is applying the key principles which help
in achieving the sustainable competitive edge, which maximizing the various chances of a
successful pitch. Also, the report will assess a potential outcome of the pitch as well as also
identifying how will organization fulfil obligation from the pitch and issues which can occur by
this will be shown in the report.
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LO3
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P5 Develop an appropriate pitch applying key principles that achieve a sustainable competitive
edge.
The report is on the Elizabeth Galton Limited, which designs the creative and develops the
product for the jewellery. The Elizabeth Galton Limited is under the series of Dragon Den which
is the TV series who promote their business more rapidly. The project of an organization is to
more expand its business by starting up the custom made jewellery. The main aim of the project
is to secure the funding for the business ideas in contributing further to the process of negotiation
(Jones, et al., 2018). As due to the financial constraints the organization project is not able to
arrange the fund for the project and this they have to approach to the potential financial investor
group for the additional funding. The pitching also offers several benefits in terms of introducing
a new business which gives the brand enhancement with various opportunities of the partnership.
The pitching will also help to get the project expansion and achievement for the new start-up.
Also, it describes clearly the new custom made jewellery business to the owner. This will also
assist in developing good organization image in case of fund scarcity.
Objectives identification: The Elizabeth Galton Limited customer made main jewellery
objectives are to expand its business and accordingly, then the distribution of the resources take
part in different segments. The main pitching purpose is to identify the various points in order to
bring the new start-up of the business. When the objectives and purpose of the organization are
identifying, then the resources in the organization is arranged accordingly by this. For instance,
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to start the custom made jewellery in the organization, this is essential to identify first that what
type of product will be given further to the consumer that will result in increasing the maximum
customer base and satisfaction. Like by offering the multi-strand necklace, which is developed
from stones, diamond, beads etc (Slack and Brandon-Jones, 2018) to give it a creative and
attractive look that will satisfy the consumer ultimately and helps in enhancing the profits and
sales. The identification of the product is done to raise the base and demand of the consumer.
The products of the custom made jewellery are a ring, necklace, bangles, earrings etc.
Focus on problems or issues: In the UK, the organization is concentrating highly towards high
and creative quality products. As the jewellery business needed the higher amount of funds so
the products of the business are also sold at a higher cost and due to no compromise in the
quality by the organization is must be done on its part. Also, cost-effectiveness is managing in
terms of enhancing the equity of customer along with making the improvement in the material,
which is necessary so that something different can be offered to the consumer.
Budget distribution: A minimum bidding budget to get a contract from a consumer is 110,000
for the UK. Also, the budget is essential to be in the hand of having the expansion of the business
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to the next level. Therefore, a different asset is also needed, but all this is borne by the customers,
which are a venue, manpower and other useful resources (Kibert, 2018).
Unique selling proposition (USP): It means that form the distinct kinds of the products are
available in the organization and from that this makes something different from the other existing
product selling. It is what which create the product itself more outstanding as well as also helps
in raising the same products demand. The idea of the uniqueness influences a huge base of the
consumer by offering the maximum consumer satisfaction by making them happier. This change
will apply only when the relevant research is being carried out as per to preferences and taste of
the consumer of having the multi-strand necklace.
Analyzing Market: This is the most important that market research is needed to be done for a
price which competitors are charging. Also, to know the customer attention and product demand
towards product purchasing is done through market research. It will also help the business in
order to make the new products which influence the consumer at large scale.
Engaging questions: This is one of the most vital stages to get the innovative products success,
as well as consumer approach, will help by taking a communication more importantly and also
gather the consumer reviews through which further modification shall be done if needed as per
based on the customer level (Viardot, 2017). The main questions will properly manage the
customer interest in the pitching. For instance, use the way of consumer satisfaction for
increasing the market demands and trends. For a project, this is important to interact and
coordinate with the consumer effectively so that feedbacks can be continuously on the
improvements areas. A questions inclusion will give an organization in terms of developing the
consumer interest in the pitching process.
Combining things: As per from above-mentioned stage is executed in 10-15 minutes
communication through which consumer face with little boring and tired. This will also offer the
more competitive benefits in the form of products to remain competitive in the market.
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M3 Examine the pitch process in an organisational context, evaluating ways to maximise the
chances of a successful pitch.
The pitch only will achieve the success and profits when it holds consumer interest, which has
developed it. The product pitch must be too boring and long, which moves away from an interest
of the consumer and not support in any of the way. By taking the several means of the
communication, it will make sure that consumer in the organization will able to understand the
cost, quality and features of the products correctly along with this. The way in which the pitching
can influence shall be enhanced that are:
A pitch can take off at least 10-15 minutes because this can move the consumer interest away,
and this must not be too long as well it must include the short and interesting story. This is also
essential for describing the new organization products and services which they are serving to the
customers and also enhance the cost-effectiveness (Pansari and Kumar, 2017). A pitch can be
managed the cost efficiency and revenue structure of the organization. The pitch effectiveness
can be ensured only when this is in the accurate position of gathering the interest of the intended
audience together. The appropriate strategies of the communication will further support the
organization in order to assess the pricing, uniqueness and quality to understand the product
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features more properly. The pitching must present the location, cost-effectiveness measures and
targeted audience along with it. Also, an interactive model of revenues is presented by pitching.
Pitch process will develop, implement and train staff in the organisation to use customized
tracking tools and processes completely favoured for your business’s needs. This allows you to
navigate the pitch process efficiently, increasing your return on investment while decreasing the
workload.
Pitching will extensively experience the submitting compliant and success the pitching technique
for contracts of all size and scope, across a variety of levels in an organisation. By this way, the
pitch will achieve well-known success for the skill, attention to detail, facilitation, and
organizational techniques and maximise profit in an organisation.
For full customer interest, building a solid foundation for a seamless proposal process is a crucial
factor influencing the success and profits. Pitch services are customizable and scalable, providing
a flexible fit to meet every customer needs and interest. This gives the customer a ‘choose your
own adventure’ style of process management.
Implementation of a fine-tuned pitch is as important as the process itself and will form the
foundation of the pitch. Pitch will work to implement a process that adapts to the particular needs
of your organization and people for achieving the organization goal to set up for success through
clearly defining roles and responsibilities, setting expectations, and implementing best practices.
This result will increase the profit, increase the team’s efficiency, and ensure consistency
throughout the organization.
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LO4
P6 Assess the potential outcomes of a pitch.
To gain the organization set objectives and goals, for which the supportive pitch will help in this.
The pitching is the main procedure for influencing the consumer with dynamic data, which offers
a competitive edge from others. This is also important for the organization to plan the process of
pitching in terms of removing the obstacles for the failed products or lack of consumer interest
accurately (O'Leary and Hunt, 2016). The outcome of pitch is transparent for determining the
success and failure of the products in a market which also shows either the consumer is ready for
accepting the product or divergence of the products is there.
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The best progressive pitch will offer various opportunities to the business in order to enhance the
expansion idea importance and move further towards effective business development and
growth. The profit level and customer satisfaction can be raised by offering them goods of their
own choice. Through creating the work for pitch appropriately, it is done by adding the name to
brand goodwill and values and by this, the revenue is impacted and sales prices are increased.
This will support also in giving a proper understanding of customer desires and needs in terms to
meet with maximum satisfaction (Ciuchta et al., 2018). The strong customer relationship, along
with this, is also being created, which helps in effective business growth and expansion. An
improvement in the pitching is only done when essay replacement is done through completing
the story, which captures the interest and attention of the consumer.
The appropriate pitching also supports the business to expand more rapidly and achieve their set
targets and goals. To get a competitive benefit, the pitching process is offering a unique and
outstanding idea to investors. Also, the outcomes are very much clear and precise and justifiable,
which makes an organization in order to accept the investors offers at affordable cost agreements
(Davis et al., 2017). Also, the good pitch will help the business as well as also provide various
opportunities to rapidly grow and enhance its market share to a great height. An individual must
give the reviews and information about the products of the organization instead of being
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unrealistic so that organization power of convincing can be further raised and profits can also be
gained in some way. Also, there is an increase in brand value, which presents a proper
understanding of a business structure, which results in maximum consumer satisfaction. Pitching
can also be avoided when a long story is there rather that of essay which helps in managing the
customer interest in a systematic manner.
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