The Marketing Mix - Price

In business studies we have been continuing on doing the 4 blog posts for our assesment about market day. This is the second blog post so far which is about the price of our product that we making and selling. After this blog post I have 2 more blog posts to go about the place and promotion and then I am done for this assesment about market day

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

- We were thinking of an reasonable price for the toffee apples and the sausage sizzles because if we were going to see the products at a expensive price then no one will buy the products and we wouldn't make any profit. We decided to make the toffee apples $1.50 and $2.00 for the sausage sizzles because if you see people selling sausages outside of the warehouse or somewhere they are about $2.00 each and there is alot of people buying them.

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

- The toffee apples are worth the product because they are $1.50 each and that is a very cheap price for a big item. They are worth the price because mostly everyone likes to eat a candy covered in a apple because it is delicious and it is fun to eat with. The sausage sizzles are worth the product because they are $2.00 each and that is quiet cheep for a sausage and everyone love sausage sizzle

What price are others (B&E group/real world business) charging for the same good (use a table to show this)?

- There is a another group doing sausage sizzle but I am not sure how much they are selling it for or what their business is called

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

- Our group have not considered doing anything else for the price, it is still the same