Principles of premium branding

Abstract

We began the study with exploring the objective of identifying factors essential for developing premium brands. The research was entirely based on secondary sources, hence we went through lot of journals, research articles, publications, books etc. Price, Perceived Quality, Innovation, Design & CSR come out as the key factors significant from a strategic perspective in creating perceptions of premium brand. These factors are important primarily in the introduction phase of the product life cycle. For post-intro phases, brand loyalty & image developed from the then customer base can be leveraged to further increase price premiums.