A follow up to Tim's Maker's Mark post. From the inbox:
Dear Ambassador,
Since we announced our decision last week to reduce the alcohol content (ABV) of Maker’s Mark in response to supply constraints, we have heard many concerns and questions from our ambassadors and brand fans. We’re humbled by your overwhelming response and passion for Maker’s Mark. While we thought we were doing what’s right, this is your brand – and you told us in large numbers to change our decision.
You spoke. We listened. And we’re sincerely sorry we let you down.
So effective immediately, we are reversing our decision to lower the ABV of Maker’s Mark, and resuming production at 45% alcohol by volume (90 proof). Just like we’ve made it since the very beginning.
The unanticipated dramatic growth rate of Maker’s Mark is a good problem to have, and we appreciate some of you telling us you’d even put up with occasional shortages. We promise we'll deal with them as best we can, as we work to expand capacity at the distillery. ...
A good economics student (e.g., an MBA or undergraduate who has taken the managerial econ course) might suggest raising the price (note that it there is a 6 year lag from production to market, supply is perfectly inelastic in the short run). That way, only the Maker's Mark customers who are willing (and able) to pay a dollar or so more would stay with the brand, Maker's Mark makes more money (note: alliteration), and loyal customers won't get frustrated with shortages and try another brand.
Further reading: Wonkblog.
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