Final Project: Price

Splash Vodka will be priced at seventy dollars a bottle. We understand that this is more expensive than many types of vodka, but you’re not just buying the vodka, you’re buying the experience of the luxury that comes with Splash Vodka. Splash Vodka is unique vodka, and we want people to have a unique experience. We don’t want people thinking this is just another brand of vodka and that is why we have priced it at seventy dollars a bottle. By paying this price, people will already be expecting the luxury of Splash Vodka. “Price is the amount of money customers must pay to obtain the product.” (Marketing: An Introduction, p. 53) People will be willing to pay this much for our vodka, because they will know it is worth it. We want people to purchase Splash Vodka, not only knowing that it is worth it, but that they are worth it. We don’t want people to think they are spending a fortune on a bottle of our vodka; we want people to know they are able to afford it. People will buy Splash Vodka knowing they have earned the luxury of it. They will know their money is being well spent when they purchase a bottle. “The many possibilities can be collected into four groups of variables known as “the four Ps”: product, price, place, and promotion.” (Marketing: An Introduction, p. 53) The four Ps of marketing all work hand in hand with Splash Vodka. Since our vodka is all about luxury, every part of it will show how luxurious our vodka is, and why people won’t be afraid to pay this price.