Diamond Schmitt Architects Studio O+A NBBJ Architekton Exploring Premium Brand Extension Regular readers of Branding Strategy Insider know we welcome and answer marketing questions of all types. Today, Eugene, a marketer in London, England writes… "Dear Derrick and Brad, I really enjoy Branding Strategy Insider, thanks for the resource. My question is how to measure the Halo effect a premium brand extension can have on the rest of the range, and the Halo effect mechanics." Eugene, thanks for the compliment and your question. One cannot add a significantly more premium or inexpensive product within a brand’s range without encountering credibility problems. • One should test the responses of current customers to adding a more premium product to a brand’s range of products before it is actually done. Overall, my advice to you is to move cautiously, informed by customer research. Have a question related to branding? Sponsored By: The Brand Positioning Workshop
SHW Group - education architects, learning, school design, higher education architecture, k-12 architecture, school architecture, educational architecture Kennedy & Violich Architecture How to make a premium brand accessible I was out for a few drinks with some colleagues on the weekend. One of these gentlemen is a martini guy. It is his drink. He insists he can taste the difference. I always have the same three thoughts when we reach the Grey Goose juncture: 1. 2. 3. Grey Goose vodka is a great example of an emerging marketing trend I call accessible premiumization. Starbucks may not have been the first accessible premium brand, but it was among the early entrants, with a unique language and higher price points. In order to better define accessible premiumization, we need a reference point. The ingredients of ultra premium Ultra premium products tend to be pure luxuries. When you dig into what makes a product ultra premium, some patterns emerge: Product: The first pattern is that there is zero question about either product quality or design authenticity. Distribution: Ultra premium products are not widely distributed as their target segment is so small. The fundamentals of accessible premiumization
BBH Design Miller Hull Personal Branding | Personal Branding Expert JW Dicks: Premiumize Your Product or Service While the news talks about falling consumer confidence, there is one area of the economy that is going strong, and that is the affluent end of the market. People in this class have money and they are willing to spend it to get the “best” and to show that they have the money to afford the best. To take advantage of this growing trend and growing number of people in the affluent class, you should consider adding or developing a premium product or service to your business. Here are some examples of premiumized products and services: · Water: No, we are not talking about regular Evian or Perrier; we are talking mega high-end water. o Evian’s limited-release Palace Bottle, which is only available in high-end bars and restaurants sells for $15 to $20 a bottle and has a stainless steel coaster and a cool shape. o Bling H20 is bottled water that comes in limited-edition, corked, 750 ml frosted glass bottles, embellished with Swarovski crystals. o Carlsberg 900 was introduced this summer in Sweden.
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