Naturally, all companies are enticed by the idea of charging more for their products—but too many approach premiumization solely through lens of pricing; they think of premium as ongoing strategy, rather than as the outcome of uniquely satisfying a real consumer struggle. As a result, many premium initiatives struggle to justify their increased cost and, ultimately, fail in market. So what goes into a winning premium launch?
Addressing an unmet consumer need is an absolute necessity, but it’s also just the beginning. For a premium initiative to be successful, it must ensure that the final product genuinely delights the consumer, as well as create a rich story that elevates the product to a more holistic “experience,” by leveraging the right messaging, package design and in-market activation strategies.
The webinar materials are available for download at the end of the video.