Price

For the first year, Lucky Vodka will be priced at $25.95 for a bottle that is 350 mL. “When setting prices, beyond the market and the economy, the company must consider a number of other factors in its external environment” (Marketing: An Introduction, Armstrong/Kotler, Pg. 284)This will make it a good quality vodka but at a lower price than Grey Goose and similar vodkas. After the first year, we will reevaluate our price and see if it should be lowered or altered.  “The company adjusts its prices to reflect changes in costs and demand and to account for variations in buyers and situations. As the competitive environment changes, the company considers when to initiate price changes and when to respond to them” (Marketing: An Introduction, Armstrong/Kotler, Pg. 285).