Price

"Pricing new products can be especially challenging. Just think about all the things you’d have to consider in pricing a new cell phone, say the first Apple iPhone. What’s more, you’d have to start thinking about the price—along with many other marketing considerations—at the very beginning of the design process."(Armstrong & Kotler (2011). Marketing pg. 285). Like with everything else it will always be hard to find the right prices to put on a product but for the Red Velvet vodka we have decided to sell it for about $23-$28 and will have species for the holidays and New Years to increase sells of our product. We are doing this which is  what "Many companies that invent new products set high initial prices to “skim” revenues layer by layer from the market. Sony frequently uses this strategy, called market-skimming pricing (or price skimming)." (Armstrong & Kotler (2011). Marketing pg. 285). Which we will be able to do with what the bottle design is and with they way it is being packaged as well.