Business Strategy: Pricing Excellent Hard Cider

Please be as concise as possible: You are the marketing manager for Nine Pin Cider, a leading maker of artisanal hard ciders.  The cider maker has just finished creating his masterpiece Nine Pin Special #2.  This is the finest, best-tasting, most complex hard cider ever made.  Unlike Nine Pins other ciders, which are sold in 11 oz. cans, it needs to be bottled in 1-liter (34oz) bottles.  The product and package are ready, and now it is time to settle on a price.  For perspective, the other fizzy alcoholic beverages that come in this form range from malt liquors like Colt 45 and Magnum which sell for $4 per quart (32oz) bottle to sparkling wines and champagnes which sell for between $8 (Andre) and $40,000 (Dom Perignon White Gold) per bottle.  Most sparkling wines sell for between $20 and $50 per bottle. Woodchuck, Angry Orchard and other mainstream ciders sell for $3/12oz bottle while Nine Pin and other premium ciders all sell for about $4/12oz bottle or can.  Nine Pin Special #2 costs about 15% more to make per ounce than regular Nine Pin flavors, but it delivers an entirely different and superior drinking experience.  How would you price this remarkable new product?  Suggest a price and explain your reasoning.  Limit your answer to 800 words

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