You are required to develop and set a price for a new product targeted at First Nations youth between the ages of 10 and 21.

You are required to develop and set a price for a new product targeted at First 

Nations youth between the ages of 10 and 21. Identify a new product you think 

could be successful in the market and set an introductory price for it. Use the 

following questions to structure your written analysis.

 What is your product and/or service? (note this should be a for-profit business 

idea)

 Provide a description of the product/service classification type.

 How is your product/service a "new" product/service? Use the definitions 

provide in your textbook to guide you.

 What are its benefits (i.e., needs, wants or demands) that your 

product/service will provide to the target market? That is what value will the 

consumer of your product/service receive?

 At what price will your product be sold at? (support your answer). That is 

identify the primary pricing constraints and objectives that apply to your new 

product/service