Brand premium, that is, the same product in the market, due to different brands, consumers are willing to pay higher**, this additional part of the payment is the brand premium.
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Brand premium is a manifestation of brand value, which not only reflects consumers' recognition and trust in the brand, but also a manifestation of the core competitiveness of the enterprise.
The secret of creating a high value-added brand lies in the following aspects:1Establish a unique brand core value: The core value of the brand is the cornerstone of the brand premium.
Companies need to conduct market research to gain a deeper understanding of the needs and expectations of their target consumers, so as to establish core brand values that distinguish them from competing brands and can touch the hearts of consumers.
For example, if a watch brand is positioned as "ordinary life", it is difficult to form a unique brand impression, while a watch brand positioned as "elegant life" can attract consumers who yearn for an elegant life, thus forming a brand premium.
2.Create a distinctive brand identity system: including visual identity system (such as logo, color, font, etc.), product identity (such as unique design, material or process, etc.), and behavioral identity (such as brand activities, public relations strategy, etc.).
For example, KFC has created a unique quality perception of its products by promoting "fried chicken is discarded within five minutes before it is sold to ensure the freshness of the food", and this differentiation helps to increase the brand value.
3.Integrated marketing communication: disseminate brand information through advertising, public relations, social networking and other channels, strengthen the core value of the brand, and enhance the brand's awareness and reputation.
The content of the communication should be consistent with the core values of the brand to deepen consumers' perception and emotional connection with the brand.
4.Provide excellent quality assurance: High quality is the basis of the brand's premium.
Enterprises must strictly control the quality of every link from product design, production, sales to after-sales service to ensure that products can meet or even exceed consumer expectations.
5.Continuous product and service innovation: The competition in the market is fierce, and companies need to continuously innovate products and services to provide unique value to consumers in order to stand out from the crowd.
7.Dominance: Enterprises with strong brand premium ability can formulate a higher ** to a certain extent, while consumers are still willing to buy.
This is because the brand has a high value recognition in the minds of consumers.
8.Application of digital technology: Use modern digital technology, such as social networking, big data analysis, intelligent customer service, etc., to optimize brand marketing strategies, improve user experience, and enhance consumer stickiness.
Through the systematic implementation of the above strategies, enterprises can gradually shape a brand with high added value, so as to gain a competitive advantage in the market and achieve brand premium.