As my intended target audience are the age of 16-24 I will need a price which is suitable for this age group. Most teenagers are in education rather than having a highly paid job, therefore do not earn a lot of money so my magazine price needs to be affordable in order for them to buy it. I will publish my magazine every monthly because not only will my magazine provide different and exciting contents every month, my magazine can advertise for the following months and offer coupons which will persuade readers to buy the continuing magazine which will result in more buyers, long term.
However, a competitive price will be needed to compete in the market. Therefore, I will price my magazine at £2.90 as this is a reasonable price for the target market. This should be affordable for my target market as it is published monthly. The date of publish, target audience and competitors have been taken into account when setting a price for my magazine.
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