The marketing Mix - Price

 In business and enterprise, we are looking at selling our product for $2, I will go into an explanation into why I am going to sell it at this price. Basically, we chose the price we did because it seemed cheap and way less than actual yo-yo's which are built out of metal and plastic.

How did you work out what price you were going to sell your product at?

We have agreed on selling it for $2 because of the fact that it is made out of sustainable cardboard, which can be disposed of. From a few sites which we have looked at, they have had been selling at the lowest price of $4.50 and $30 at most. So having at $2 which is half of the cheapest on the sites price's is a good price because it's environmentally sustainable and cheap as chips.

How will you ensure that our product is worth the price you are asking people to pay (quality control)?

 Our price is worth it because its cheap, $2! That is some cash anyone can spare, plus with how you can get rid of it so easily because it's made out of cardboard, something which can be recycled easily. Who wouldn't want something that has a small fee and is disposable?

Some real business's prices for their yo-yo's:

Toyco: cheapest: $8 / Expensive: $57

Duncan's: Cheapest: $4.50 / Expensive: $75

Amazon: Cheapest: $3 / Expensive: $42

What else will you consider when it comes to the price of your product?

The quality and size. These two important things have a relevant role in selling the product, we need it to be strong but since its cardboard then just reinforcing works and the size can be medium, the size of the palm of someone's hand.

I think the price is great and will be attracted to all the people who come to our table. It's a great deal and I think personally, it is an amazing price for something so small and has a bundle of fun that is capable of.