Thursday, June 9, 2011

Price

According to the digital textbook, "Even small differences in price can signal product differences" (294).
This is why I decided to price my product in $29.00 dollars, and not $30.00 dollars. The digital textbook also states that "psychological difference can be much greater. For example, some consumers will see the $299.99 as a price in the $200 range rather than the $300 range. The $299.99 will more likely be seen as a bargain price, whereas the $300 price suggests more quality" (294). Some other good vodka brands sell their bottles around $40.00 dollars, making HellDorado Vodka about ten dollars cheaper, but that does not mean it lacks in quality, but since the caffeine allows the drinker to keep drinking, they will buy more of the product, and that way the company wins.

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