Unit 19 P5

Satisfactory Essays
Unit 19 P5
Team name: Team four (Sean, Danny, Charlotte, Dillon.)
Team Leader: Sean

Market research/ how we decided on product prices and promotion
Product
At the start of the project we all had a meeting together to discuss what would be the most suitable and the most popular products to sell within the college. We wrote down all the possibilities such as fizzy drinks, raffle tickets, cakes etc. In the end we decided we wanted to do something with sweets, as there are many vending machines in college which sell chocolate and fizzy drinks and a cafe which sells cakes. There is not much option when it comes to sweets; also sweets are cheap when sold in big bags so we thought if we reduced the size down into smaller pots we would generate profit.
Although when we looked more into the pricing we came up with the idea of a game, which involved students guessing how heavy a big jar off sweets and chocolate was, and the closes guess won the entire jar of chocolate and sweets. We thought that the jar off sweets would be appealing and get students to come over.
Prices
When deciding on the price we all decided that we had to consider that we are aiming for students who do not carry a lot of money around with them, and will only usually use their change. We decided that 50p was a fair price, cheap enough for students and also enough to make a profit.
Promotion
We knew that we would have a stall are strategy was to get the table looking appealing, we printed of a sign saying what he stall was and we thought that the big jar of sweets would get students over. Going around the college and promoting in staff rooms was another idea which we said we would see if we needed to do on the day.
Costs and sales
The stall was not successful and we did make a loss. We made around £5.70 during the time we had on the stall and we paid £10 for the sweets and chocolate. We made three sales on the game and then £4.20 on selling the sweets individually.
Evidence of planning
Team roles
We

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