“To estimate sales, the company might look at the sales history of similar products and conduct market surveys.” (Marketing: An Intorduction, Armstrong/Kotler, pg 251)
My product and it's history in the market place are known and unknown. There's always been chocolate confections with different ingredients inside but there's also always been a road map of sorts on the box to tell you what was inside those confections. There has yet to be a set of chocolates of identical size and color made with different innards for the purpose of making you enjoy the randomness of your choice. Each box will actually be a "chest" about 6 inches by 6 inches by 4 inches containing a dozen miniature chests.
“In the normal case, demand and price are inversely related; that is, the higher the price, the lower the demand.” (Marketing: An Introduction, Armstrong/Kotler, pg 283)
The price for my product seeing as how it's a commonly purchasable and commonly consumed product would be set at an appropriate 8 dollars a box. There's no need to set my product price too high, and that leaves adequate room for product development and shipping.
“Consumers with limited budgets probably will buy less of something if its price is too high.” (Marketing: An Introduction, Armstrong/Kotler, pg 283)
“Consumer promotions are sales promotion tools used to boost short-term customer buying and involvement or to enhance long-term customer relationships.” (Marketing: An Introduction, Armstrong/Kotler, pg 434)
The promotions for my product will be handled as thus; in all stores selling the product forthright there will be drawing contests for all children ages 18 and under eligible to enter. The drawing will need to include pirates and will be used as the mascot for the product. Whoever wins will get a free years supply of Doubloon Chocolate Treasures and the drawing will then be used as the mascot for the product hence forth. It gets children excited about the product and then it gets attention without sacrificing any profit margin.
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