"Competition-based pricing - Setting prices based on competitors’ strategies, prices, costs, and market offerings." (Marketing: An Introduction, Armstrong/Kotler, page 280)
This pricing throws us in the shark tank, competing with all the major vodka brands.
"For most purchases, consumers don’t have all the skill or information they need to figure out whether they are paying a good price. They don’t have the time, ability, or inclination to research different brands or stores, compare prices, and get the best deals." (Marketing: An Introduction, Armstrong/Kotler, page 294)
We want our product to be side by side with the leading competition. We want to show the consumer the grade of alcohol their getting compared to what they're offered for the same price. This will cement into the consumers mind that you can buy exceptional quality, with average money.
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