Quantifying premium positioning who is and what does a premium consumer want - ben white and ruby cha cha

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  • 1. *WHAT IS PREMIUM TO THE CONSUMER
  • 2. WHAT IS PREMIUM?pre·mi·um adj.1. Of superior quality or valuepre·mi·um n1. A prize or award2. Something offered free or at a reduced price as an inducement to buy something else3. A sum of money or bonus paid in addition to a regular price, salary, or other amount4. The amount paid, often in addition to the interest, to obtain a loan5. The amount paid or payable, often in installments, for an insurance policy6. The amount at which something is valued above its par or nominal value, as money or securities7. The amount at which a securities option is bought or sold8. Payment for training in a trade or profession9. An unusual or high value: Employers put a premium on honesty and hard work2
  • 3. SUPERIOR TO … ? The Ritz is premium to the Hyatt … is premium to the Holiday Inn …3
  • 4. IN A MARKETERS WORLD TANGIBLE INTANGIBLE4
  • 5. WHAT DEFINES A PREMIUM SENSE OF WORTH5. Sensual 4. Enticing 1. Discerning 3. Genuine 2. Confident5
  • 6. INTERPRETATIONS OF PREMIUM Are subjective; are culturally dependent (including sub-culture)6
  • 7. CREATING A SENSE OF WORTH THROUGH CONSUMERPSYCHOLOGY 4. Assigned meaning 1. Symbols 2. Packaging 5. Rituals and Form 6. Essence 3. Scarcity 7. Endorsement7
  • 8. 1. SYMBOLS Semiotics8
  • 9. 2. PACKAGING Breaking the mould to create value, leadership, difference9
  • 10. 3. SCARCITYPerceptions of limited supply can create the sense of premium and potentially drive uber-demand10
  • 11. 4. ASSIGNED MEANING Meaning can come from marketing provenance or process11
  • 12. 5. RITUALS AND FORM Creation of rituals or new forms12
  • 13. 6. ESSENCE Premiumness through ‘essence’, science or less processing13
  • 14. 7. ENDORSEMENT Perceived specialness can be created through product endorsement14
  • 15. 15 HOW YOUR PRODUCT REPRESENTS WORTH SO WHAT? 5. Sensual 4. Enticing 3. Genuine 2. Confident 1. Discerning 1. Symbols 2. Packaging 3. Scarcity 4. Assigned meaning 5. Rituals and Form 6. Essence LEVERS TO PROMOTE PREMIUMNESS IN MARKET 7. Endorsement
  • 16. Thank You16