Magazine prices.

When thinking about what piece to put on my magazine, I thought it would be appropriate to look at a range of similar-genre magazines and see how much they cost. I decided that the best magazines to look at for this would be ‘NME’ ‘Q magazine’ and ‘kerrang’ as these are all similar genres to my magazine.
I found out that NME magazine costs £2.20 per issue. This comes out weekly, every Wednesday. I also found out that a 12 month subscription would cost around £75.99. This is for 51 issues so there is a saving of £36.20. Making each magazine cost £1.49. This magazine is aimed at older teenagers and adults up to the age of around 25. This audience have
Q magazine costs £3.90 and it comes out monthly. A 12 month subscription would cost £34.00 which includes 12 issues so there is a saving of £12.80. Making each magazine cost £2.83.
Kerrang magazine costs £2.20 and comes out weekly, every Wednesday. The 12 month subscription for this magazine is £64.00. This includes 51 issues so it has a saving of £48.20. Making each magazine cost £1.25. This is, evidently, the best subscription offer out of the three magazines.
After looking at this information, I decided that to introduce my magazine I would have to have a lower price than the ones I have just looked at. If I used a higher price, it is likely that people wouldn’t bother spending more on my magazine rather than getting one that they recognise. After thinking about this I decided that it would be best to put my magazine price at £2.00.
I asked 15 people aged 15-25 (my target audience) if they would pay £2.00 for a weekly magazine and 9 of them said they would. I then started lowering the price by 10p and repeating the question for that price. At £1.90 11 people said they would buy it, at £1.80 13 people said they would buy it and at £1.70 14 out of the 15 people said they would buy it.
Due to this I have decided to put my magazine at a price of £1.70 for the first few issues then move it up to £1.90 after it has gained an audience.