A premium brand is not a luxury brand (The Brand Auditors)

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.

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