Price

“Price and service are the major marketing factors; branding and advertising tend to be less important.” (Pg. 212, Marketing: an Introduction, Armstrong & Kolter). If the price is too high for a product you could lose a customer base being price out. On the other hand if your prices are too low you put a stigma of low quality around your product, but gain the buyers who would buy this at its lower price. An idea for a price of this drink would be at $30 for a 1.75L bottle. This would put it as a fairly quality vodka on par with other brands, but with just enough headroom in the price compared to those brands to entice possible buyers who want a quality drink for a fairly reasonable price. “A small percentage improvement in price can generate a large percentage in profitability.” (Pg. 275, Marketing: an Introduction, Armstrong & Kolter). By offering the drink at a slightly reduced price to the competition, there is the possibility that, while still having an aura of quality, it would be perceived as slightly more affordable than other brands. Having the price at this amount puts it in a realm of quality, but it is still a fairly reasonable price not excluding too many people who might be interested in purchasing it.