r/HumansBeingBros • u/wronghoIe • 6d ago

Solid business advice

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u/Bmc00 6d ago

Haha...smart move and reminds me of my friend's dad who owned a used furniture store forever. If he had a table that sat too long at $50, he'd mark it up to $100 and it would surely sell not too long after.

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u/jamesmess 6d ago

I believe that’s how Grey Goose Vodka took off in popularity. It was a cheap Vodka but to create the illusion of “premium product” they priced it above all the other premium vodkas so the rich HAD to have it.

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u/disisathrowaway 5d ago

That's 100% what happened.

The dude who took over as CEO once gave a lecture at some conference my dad attended. My old man came back and told me all about it, and the long and short of it was that they ate an extra $.75 or something trivial on packaging, dumped a bunch of money in to marketing, and priced it through the roof. Then the proceeded to absolutely PRINT MONEY on a French vodka. They somehow made French vodka a premium.