Choice of college, target audience and price

My choice of college to feature in the preliminary task will be Wyke college because not only is it a very appealing building anyway now that it has been redeveloped but also it has many facilities in the college that students will find useful and accommodating. Wyke college is the perfect college to showcase the many achievements of the students and to show students how good the college is.


The target audience for the magazine will be 16-19 year old students within the college. This is because they will be the ones who will benefit from the magazine the most. The magazine will feature a lot of useful articles on how to write an essay or organise your workload. However it will also feature problem pages and advice pages to help with the social aspect of college too. As many students suffer with work if their social lives are affected. This is why the magazine will be a mix of education based articles and social/personal based articles to get a wider reading audience. The magazine is aimed at students at demographic E level and want to realise self actualisation.


The price depends on two things. How frequently is the magazine to be published? weekly, monthly etc and how much can the target audience afford? I have decided that I will publish my magazine weekly which will allow me to incorporate current news in the magazine which will still be current when published. With the magazine being published weekly and my target audience being college students I will have to price the magazine quite low. 
From doing market research into college magazines I have found out:


"College" magazine boasted that they were 100% free
"College Lifestyle" is $5.99 which in pound sterling is £3.79


This is a big difference in price from a magazine being free to one which is £3.79. If i were to offer my magazine free of charge I would not make any profit from it and therefore it would be a diseconomy of scale. However I do not want to sell my magazine at £3 or more because this would seem expensive to the student popular. Therefore I have decided to sell my magazine at £1 because this is not too expensive, every student will have a pound lying around somewhere, and it is not too cheap as to lose money.