Research - magazines price

In order to ensure I priced my magazine suitably, I carried out some research into the prices of magazines of a similar genre to my magazine (alternative/rock) and found out the prices of the following music magazines:

Kerrang - £2.20
Q - £3.90
NME - £2.30

From researching magazine prices of magazines, I found out that most music magazines of the rock/alternative genre fit into the price range of £2.00 - £4.00.

My decision to price my magazine was also influenced by my audience research questionnaire. From my results, I found that my target audience are more likely to purchase a magazine priced £2.99 - £3.99. This in mind, I have decided to price my magazine at the lower end of the spectrum at £2.99. I have chosen this specific price as I know from my audience research that  people may be more likely to purchase a magazine at this price over more expensive alternatives. Furthermore, existing media products in the same genre are priced at similar values.

My target audience is students, and a lot of students don't really have that much money to spend on things that are not necessities, such as magazines. I also think £2.99 is a good price to sell my magazine at as it is affordable for everyone within my target audience.