How to Communicate Premium Quality Products

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Premium aka high-end products are those that sell for (an average of 20%) more than the average category price. If you want to sell your product as a premium or high-end product, your every step must convince customers that your product's value (whatever 'value' means in your industry) is so stellar that the high price is so justifiable that it is a non-issue. 

Before beginning, know how your target market defines product 'value'. For instance, baby boomers are known for valuing quality ingredients in their cosmetics products while younger generations value 'green' brands and solutions for their pain point of acne. Consequently, use and promote the best quality ingredients if you are targeting baby boomers while focusing on your 'green' product formulation and how it tackles each of the component issues related to acne if you are targeting a younger audience. 

Continue in this way for all other aspects of the marketing mix, without cutting corners. 

Some DOs & DON'Ts

• Publicly promote your brand's premium characteristics. Just doing this elevates the perception of your brand relevant to other brands that do not.
• Use high quality photography and other visuals.
• Luxury does not need to follow the mainstream opulence-related perceptions of luxury. Use 'mythological marketing'. Mythology often refers to a collection of myths belonging to a particular religious or cultural tradition. However, in marketing, mythology involves telling your story in a way that engages your customers in a deeply personal and emotional way, ie personal emotional marketing. Brands that do this well, always tell their emotion-triggering story. Examples include showing how you use traditional techniques after having trekked through difficult terrain, talking with indigenous peoples and so on. This is why many handcrafters have YouTube videos showing themselves making their products. If they grow cultivate product inputs, they earn emotional value by showing they care and pick the produce, 'like their ancestors, etc'.  
• Outside of the benefits that relate intrinsically to your product, ensure that your advertising communicates exclusivity, high quality and whatever 'premium' means in your industry. Prestige and other forms of psychological pricing are essential.
• Use only those distribution channels that your target customers value. For instance, if you are wholesale selling natural personal care products, sell to only health stores and organic farmers' markets rather than to supermarkets and gas stations. In short, your product may seem of higher quality by association

CONTENT RELATED TO COMMUNICATING PREMIUM QUALITY PRODUCTS.

• Psychological pricing