What is the definition of a premium brand?

Answer

A premium brand is one which the customer believes is worth the higher price typically charged when compared to other options within the same category. The definition of premium fluctuates a bit, since customers used to lower-cost options may apply the concept of "premium" to, say, a hotel or bottle of vodka that a customer used to spending more money would consider ordinary.

Premium brands are often defined simply as those which are able to charge more than are supplies of other brands. Premium brands are typically high-quality items or services providing a consistently high-level of customer service. Often the items designated as "premium" are comparatively rare, seen as having great value regardless of the item's intrinsic value, and have a mysterious or classy aura.

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