Marketing Mix: Price

"Pricing may play an important role in helping to accomplish company objectives at many levels. A firm can set prices to attract new customers or to profitably retain existing ones. It can set prices low to prevent competition from entering the market or set prices at competitors’ levels to stabilize the market."(Marketing: An Introduction; Armstrong/Kotler; 9 Pricing Understanding and Capturing Customer ...; pg. 18 of 59 )
On the Rocks is looking to exist in luxury casinos, lounges, bars and restaurants. So we have to set our price to compete with the other luxury vodkas out there. We are also taking into consideration the fact that we are an all natural vodka. Our ingredients are from the purest places. Our bottles are one of a kind. They are not like most bottles. Plus we include the rocks used in place of ice. Taking all of that into consideration, we are looking at a price around $89.99 for a 1.75 liter.
"Some psychologists argue that each digit has symbolic and visual qualities that should be considered in pricing. Thus, 8 is round and even and creates a soothing effect, whereas 7 is angular and creates a jarring effect."(Marketing: An Introduction; Armstrong/Kotler;9 Pricing Understanding and Capturing Customer ... page 42 of 59)    
Since On the Rocks has a lot of round letters and we decided to price our product at $89.99, we feel this psychologist may be right about these creating a soothing effect. So this could make our product as soothing to buy as it is to consume.