You sell popcorn during your school's football games. Knowing that people usually buy more when the price is lower, how would you price your popcorn after halftime?

Say you are selling bags of popcorn for £1.50, and 60 people buy some. That makes £90.
People typically buy snacks at halftime, as well as when the price is low.
If you lower your price to £1 a bag, and double the amount of people buy it, you make £120.
If you cut the price by a third, and more people buy it, you should, in theory, break even or make more profit.

Answered by SneakyPythagoras | 2024-06-10

I would price my popcorn as half the price as they sell at the store I would do this because then you will be making more money then the store because you will get more customers.

Answered by tiana1433 | 2024-06-10

To effectively price your popcorn after halftime, consider lowering the price to attract more customers, as lower prices typically increase demand. For example, if you reduce the price from £1.50 to £1.00, you could potentially double your sales from 60 bags to 120 bags, increasing your revenue. Experimenting with different pricing strategies can help you find the optimal price point that maximizes sales and profits.
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Answered by SneakyPythagoras | 2024-10-02