18 Jun '11, 12am

Wodka And A New Business Model: Cheap, Premium Vodka - Yahoo! News via @yahoosg YAHOO!

Wodka And A New Business Model: Cheap, Premium Vodka - Yahoo! News via @yahoosg YAHOO!

[caption id="attachment_4333" align="alignright" width="302" caption="Billboard at West Broadway and Broome in New York - welovewodka.com"] [/caption] While no one can deny that consumption is a form of social distinction, it sounds even more absurd to think that people will pay more for an equal product. Calling the market bluff on the whole premium liquor industry, Wodka Vodka is trying to revolutionize the market with a new business model: cheap, premium vodka. Grey Goose, along with Ciroc and other premium vodkas, have managed to implant the idea that a higher price tag indicates greater quality, the “Grey Goose effect,” as James Dale, president of Panache Imports and one of the founding members of Wodka calls it. Dale tells the story of Sidney Frank, dubbed “booze baron” by Fox Business . Frank’s genius came in recognizing that while the premium vodka market seemed st...

Full article: http://sg.news.yahoo.com/wodka-business-model-cheap-premi...

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