Friday, March 4, 2016

Price

The price of my Vodka is going to be in the $20-$25 price range because i differently don't want it to be super pricey because it isnt going to be the best vodka on the market but it is a good one.
What i intend people to do when they see my Vodka bottle and think "wow thats a nice bottle." and want to spend the $25 because of how nice it looks.
because it is such a nice looking bottle im hoping that what people will like to see, the aesthetic of the bottle is what im hoping people will really enjoy looking at and will spend the money to see and have it.
 “cutting prices is often not the best answer. Reducing prices unnecessarily can lead to lost profits and damaging price wars. It can cheapen a brand by signaling to customers that the price is more important than the customer value a brand delivers. Instead, no matter what the state of the economy, companies should sell value, not price.”( Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing-Page274) a good price for a good bottle and a good enough vodka, like i said it isnt going to be the best one on the market but it will be a good one.
the taste will be good enough to be the price that it is. “marketing research gives marketers insights into customer motivations, purchase behavior, and satisfaction. It can help them to assess market potential and market share or to measure the effectiveness of pricing, product, distribution, and promotion activities.”( Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing-Page106)

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