Price and Profit: Our group determined a price of $3.00 at the very start. We set it at $3.00 because it had finely drawn designs, and it was laser cut. Our cost per unit was only 0.51c in the end, so we knew we would be making a pretty good profit if we set it at $3.00. Another point we took into consideration was our competition price. It was about $4.00. We decided to make it a little cheaper to our competition. However, on the day of the market, I asked around to our possible consumers and they  said they wouldn’t buy our product for $3.00. I knew I was skeptical about changing the price, as I knew $3.00 was a good price, but we all eventually decided we would get more consumers if the price was lower, and we still made an impressive profit from our price.

The Market: The market was a very interesting process for me. It was a bit slow to start with, probably because we were all standing there doing nothing. It helped when I started spruking to nearby consumers. I managed to gain lots of attention. It also helped when our consumers saw that it was $2.00 each, they said, ‘what a great price! I am going to buy this’. When I heard that, I was glad that we decided to change our price. I noticed our main audience was female costumers. We had some male customers, but there were more female. Eventually, our product became more popular. We were running out of stock, because of supply and demand. Our product was scarce. We had very limited stock. In the end, we were only left with 3 products left. One for each of us. We had 44 in total. I was very very pleased! We had made $70.75 profit.

My Personal Refletion and Capabilites: I think during this process, we were very organised most of the time. We were staying on track and doing what we were supposed to.  Although, I think our communication was very lost at one point. At one point, one of our group members had gone off sending emails to people, and I didn’t know about them, or what they were doing or why they were sending the, until I was CC’d in received replies. I would have reinforced the idea of communication a little more, because at one point I didn’t know what was going on, and I had to ask multiple times, ‘what are we doing with this again?’ because I wasn’t informed. I would have also gotten a little more involved with making designs. Unfortunately, it didn’t help that my Adobe Photoshop was faulty and the TSC had to reset everything. But it would’ve been nice to have made some designs to contribute to our product, and have other people trace my designs instead of them just using their own. Most of our designs were one persons designs.

I was really pleased with our stall location. I used the idea of resilience during the market, because it was hard watching people walk past our stall and ignore us. Our stall location probably contributed to that. It was quite far away, but it was through a main walkway and lots of people were walking through.  Our product looked really nice against our white tablecloth, because our product was organic and the white was crisp and fresh. Our stall also looked nice and Christmassy, because of our mini tree, with our products hanging off it. Year 5s and 6s especially enjoyed looking at our tree, and it was eye catching. I wouldn’t change our cost, because I don’t think we would have been as successful as we were. Our competitors were far away from us, which was very helpful. I really enjoyed this experience, and gained lots of knowledge about marketing.