This allows the customer to subscribe to the magazine for now only $8.00, I think subscription is a very common choice among most readers, I also found when carrying out my questionnaire that the majority of people wanted a monthly produced magazine, having the option of subscription would appeal to them.
Q magazine
The price of this magazine is £3.70 an issue and you can get a years subscription for £30 which works out at £2.50 an issue. I think this would work well for the company as it would increase more profit for the company as the audience would buy the subscription due to it working out £1.20 cheaper an issue.
NME magazine
The price per issue is £2.20 however the subscription can be bought for £74.99 a year this works out at £1.47 an issue again the strategy is to convince the users to buy more issues by selling them more issues for a cheaper price than a one of purchase.
Vibe
This magazine is the one that's most similar to my target audience and is one I've based a lot of my inspiration from. Vibe subscribers pay £9.95 for 6 issues which works out at £1.60 a magazine, I feel this is a very cheap price for the magazine and I feel I can charge more for the magazine I am going to create, I also when doing my questionnaire asked my audience what price they would be willing to pay and the majority said within the region of £3.50 - £4.00
I feel this research has been really helpful as I have now seen that my magazine could be priced between £1.60 up to roughly £4.00 and I have also seen that offering a cheaper subscription can help to make the magazine more competitive. This means that I should have a price around £2-£3 and offer a subscription so that my magazine can be successful in the current magazine market and eliminates the competition.
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