2. THE PRODUCT
NAME :THE BOOGLY JAR
Description : The Boogly Jar is a creative receptacle that has many functions such as:
Being a stationary holder(pencils,pens,markers,fine liners etc.)
Being a candy container(choclates,gum,sweets of all sorts)
It can be a jewellery container(earings,necklaces)
This product is very useful as a decoration in the classroom for teachers
The benefits of the Boogly Jar is that it preforms two functions at ones whether in the classroom or in the bedroom it is decorative ,(it is a luxury product-appealing to the eye) and it is a very useful container to put things inside.
3. TARGET MARKET(DEMOGRAPHICS)
This product is aimed mainly at Children , school teachers , creative people.
The preferable age of potential…show more content… All the products I used and put together to get the end result of the Boogly Jar are:
A piece of scrapbooking paper and bits and pieces of the scrap booking paper as decorations
A piece of a pink ribbon
The glass jar costs R5.00
The googly eyes in a packet cost R21,90 the piece of scrap booking paper cost is R1.00 and the bits and pieces cost 50c
The pink ribbon is R1.00
I decided to price the Boogly Jar R10.00 because the strategy and pricing structure I'm utilising is Value Based Pricing which is more concerned, considers and is for the benefit customers.
This is a good way to go about promoting my Boogly Jar as the main potential target market is children and having it over R10.00 is costly for young children.
However as the product starts being recognised the price will increase but will stay in the the income bracket for medium and high income receivers.
6. PLACE(LOCATION ANALYSIS)
The business will not have a determined destination o the potential target market will not have to come to a specific destination. The Boogly Jar will be supplied to wholesalers and retailers and I will be selling it myself at small markets and going door to door in my community selling it.