Price

Pricing is one of the most important elements of the marketing mix, and Vita has thought long and hard about what our price point should be. The cost for production, design, promotion, and distribution all have to be taken into consideration before making a decision. The unique look of the bottle and creativity spent on it will also be something to take into consideration.

We also have to take into account what our competition is doing business-wise. We have seen many product like ours in the United States, there are similar vodkas all over the country and manufacturers that we can compare competitively.  We have used 3 different pricing strategies, combined with our research, to aid in the final decision.  We have used psychological, competitive, and cost based pricing strategies to help achieve our final number.  And, this beautifully designed, colorful glass bottles will be sold at the low retail price of $30 dollars per 22 oz. [650 ml] bottles and six-packs of 12 oz. [355 ml] bottles will be $15.

-Price is the only element in the marketing mix that produces revenue; all other elements represent costs. Price is also one of the most flexible marketing mix elements. Unlike product features and channel commitments, prices can be changed quickly. (275)