CHRISTMAS MARKET 2020
Before I talk about our product I would like to inform you on what this project was about and why we did it. This project started with us having a $30 budget and us being told it is for charity. We all were excited to make our products. For our product we made customised Among Us characters. The reason we chose to make Among Us character is because Among Us is currently taking the gaming community so my partner and I thought it would be a good idea to make the character as there is no product in the market like this one and the demand will be very high as we purposely made a small quantity out of them (11). Now that I have told you about the thinking and designing aspect of this project let me tell you on how we got the price. This was a tough decision because to manufacture one of our products it would take ($2.56) and we wanted to make some good profit so we decided to make the product ($5.00). The market share was only 98% but my partner and I had a different approach to this. We knew the demand would be high instantly so we kept the price fairly low but knowing how many people wanted it, we would auction the last few of them so the consumer would be willing paying more than usual so they can get their hands on the product. Our target audience are students from the age of 10 -14 meaning that they do not have a lot of money compared to teachers but assuming that the demand would be high they would pay as much as they can to get their very own. Now knowing the market is over me and my partner knew that the demand was so high because one person was willing to spend $20 on our product but we said $10 max. If we were to do this again i would make more of our products so we can get more sales and change the theme to the latest trend so it will attract a bigger audience. Overall, I would rate this one of the best projects we have done because we end up making money which goes to charity so you feel a sense of goodness.
