Price

“When setting prices, beyond the market and the economy, the company must consider a number of other factors in its external environment” (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10^th Edition. Pg. 284. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online). If sold in liquor stores Unicorn Vodka will be priced at thirty-four dollars and ninety-five cents for a 750ml bottle, making it a competitor of Grey Goose, Belvedere, and on the heels of Ketel One. “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” (Armstrong, Gary, Philip Kotler. Marketing: An Introduction, 10^th Edition. Pg. 285. Pearson Learning Solutions, 01/2010. VitalSource Bookshelf Online). Depending on how well Unicorn Vodka is selling in stores during the first year the price mat increase or decrease depending on the demand.