Though there are some similarities, there are differences between a premium brand and a luxury brand.
By Chris Fulmer, PCM®, The Brand Auditors
A premium brand is an individual, company, product, or service generally perceived to have exceptional value in the target market’s mind.
POST UPDATED: January 3, 2025 – While luxury consumers prioritize the status associated with a particular brand name over the function of the product itself. Premium consumers seek a quality brand that offers the best value and performs at a high level. They expect the product to function at a high level and will pay the additional cost for the quality it provides. However, premium brands can’t become luxury brands simply by raising their prices.
Discover more from Concierge Medicine Today
Subscribe to get the latest posts sent to your email.
Categories: Marketing and Patient Relations
