Who is your customer? K-5th grade students were each provided eight quarters to shop on Market Day. He figured that most kids love playdough, and it was otherwise prohibited at school (he is that devious).
How should you price it? The cost of a can of store-bought playdough was too much, he thought. Since kids would have quarters, he reasoned that was an excellent place to start. And if he made different colors, he could sell each for a quarter. Also, he wouldn’t have to make change – an added advantage to a 2nd grader.
How to package it? If he wanted to sell it for 25 cents, he had to design the product so that his cost to make it allowed for profit (that was one of the grading criteria). The formula is simple: Retail Price - Cost of Goods = Profit. This is where LOADS of critical thinking and strategic math can become fun!