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Alex Stansfield-West
Alex Stansfield-West

The document discusses market research conducted on magazine prices for a target R&B magazine audience. A survey of 20 people found they prefer magazines priced between £1-2. Existing R&B magazines like Vibe and XXL have higher prices of £3.11-3.95 targeted at older audiences. Considering the target audience of 15-25 year olds, many of whom are students, the document concludes a price of £1.20 would be reasonable and affordable for the new magazine. It also decides on a weekly publication frequency to maintain reader interest.

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Magazine Price
● I carried out a questionnaire on 20 people within my target audience to see how much they're willing to pay for a typical R&B magazine; ● The results on the graph show that the target audience prefers buying magazines at the price of £1-£2. This shows that this of audience are on a tight budget as many are students and within the D/E category.
Existing R&B Magazines Vibe Initial Cost: £4.99 - £3.11 Genre: R&B/Hip Hop/Rap Circulation: 800,000 Target Audience: Between 18-35 This audience is much more older than mine therefore the cost is higher as this target audience would fit into the B/C category and would be able to afford more expensive magazines being in full time/part time employment.
XXL Initial Cost: $3.95 Genre: R&B/Rap Target Audience: Between 20-35 Mostly attracts males; around 80% This magazine also attracts an older audience therefore the price is moderatively expensive.
In conclusion Although the R&B magazines I have used to aspire me with my own magazine, I am setting the price of my magazine far more cheaper than these as my magazine is more shorter and more straight to the point, The cost for Vibe magazine is $4.99 which is equivalent to £3.11, this is quite expensive for a magazine, however the target audience for Vibe magazine is more varied where as mine is constructed for ages ranging 15-25 therefore I am willing to charge a cheaper price for my magazine for the wellbeing of the audience, as taking into consideration the research I have done over the demographics of my audience being in the D and E category, the price of £1.20 seems a reasonable and affordable price as a fair amount of my audience are students therefore are in full time education and do not recieve an income to purchase a magazine more than this price. I have also decided the frequency of my magazine to be published weekly, as many other magazines are weekly and it help the reader keep interest in the magazine creating a greater profile as they would buy it every week.

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Priceeee

  • 2. ● I carried out a questionnaire on 20 people within my target audience to see how much they're willing to pay for a typical R&B magazine; ● The results on the graph show that the target audience prefers buying magazines at the price of £1-£2. This shows that this of audience are on a tight budget as many are students and within the D/E category.
  • 3. Existing R&B Magazines Vibe Initial Cost: £4.99 - £3.11 Genre: R&B/Hip Hop/Rap Circulation: 800,000 Target Audience: Between 18-35 This audience is much more older than mine therefore the cost is higher as this target audience would fit into the B/C category and would be able to afford more expensive magazines being in full time/part time employment.
  • 4. XXL Initial Cost: $3.95 Genre: R&B/Rap Target Audience: Between 20-35 Mostly attracts males; around 80% This magazine also attracts an older audience therefore the price is moderatively expensive.
  • 5. In conclusion Although the R&B magazines I have used to aspire me with my own magazine, I am setting the price of my magazine far more cheaper than these as my magazine is more shorter and more straight to the point, The cost for Vibe magazine is $4.99 which is equivalent to £3.11, this is quite expensive for a magazine, however the target audience for Vibe magazine is more varied where as mine is constructed for ages ranging 15-25 therefore I am willing to charge a cheaper price for my magazine for the wellbeing of the audience, as taking into consideration the research I have done over the demographics of my audience being in the D and E category, the price of £1.20 seems a reasonable and affordable price as a fair amount of my audience are students therefore are in full time education and do not recieve an income to purchase a magazine more than this price. I have also decided the frequency of my magazine to be published weekly, as many other magazines are weekly and it help the reader keep interest in the magazine creating a greater profile as they would buy it every week.