What, Why, and How Much?❏The product we chose was an 8oz mason jar of clover honey madein South Dakota.❏The reason we chose a jar of honey is because we are obsessedwith honey. Paula eats it almost everyday by the spoonful.Therefore we know about this product and have passion for it.❏We are going to sell this product for $5 because this price yieldsthe highest total market demand. $5 also yields the highestrevenue price.
Determinants❏Theconsumer’s tasteis one determinant that could affect thedemand of our product. For example, there could be a video thatgoes around explaining the inhuman treatment of bees in thehoney collecting process. Which could influence consumers to stopbuying honey.❏Thenumber of consumersis another determinant that couldaffect the demand of our product. The population in a town whereour honey is sold could increase, thus increasing the marketdemand of our product.