Marketing Mix: Price

"Companies today face a fierce and fast-changing pricing environment. Value-seeking customers have put increased pricing pressure on many companies." "(Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, Pg. 275) Play Hard Vodka has been thinking carefully of where to put the price on our product. We are a specialty vodka and only the second of it's kind to sold in the United States. After doing some research on the other company and where they sell their product, the price ranges anywhere from 44.99 to 55.99 depending where you buy it from. Since we are new and want to get out into the market, Play Hard Vodka will be selling for 33.99 per 750mL bottle. We feel that this is the perfect price to market this at due to the quality of ingredients and the process it takes to be made. This gives independent wholesalers and independent retailers a chance to set the prices whatever they want it to be as long as it does not exceed our competitors top price. "Customer value-based pricing, setting price based on buyers’ perceptions of value rather than on the seller’s cost.""(Kotler, Gary Armstrong and Philip. Marketing: An Introduction for Education Management Corporation, Pg. 276)