A product is perceived as premium depending on its exceptional quality and performance

New Ideas in MarketingEssential news for marketers, summarised by YouGov
July 10, 2019, 12:11 PM UTC

Emotional responses to packaging, association and memories shape consumer views of a product being “premium”. 

Developing a “premium” product such that the product appeals both to the rational and emotional response of consumers is important for brands. Joanna Parman, UK Commercial Lead for Consumer Panel at Nielsen says that there is “no one-size fits all” approach but getting premiumisation right can help drive sales and bring differentiation to a product portfolio.

A Nielsen study highlighted that 56% of consumers believe that products are perceived as premium if they are of an exceptional quality. For 51% of consumers, superior performance and function is the deciding factor.

Emotional responses also influence the premium perception. A consumer’s emotional response to product packaging, association and memories can inform their perception of a product being premium. This response can also lead to driving purchases.

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