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Poster - Priya Dhadhi
Poster - Priya Dhadhi
Poster - Priya Dhadhi
Premium Pricing
The demand for products from luxury brands has grown over time, with
a 7% annual growth rate between 1995 and 2013, and is predicted to
expand by 4% to 5% until 2020.
One of the qualities of luxury goods is price premium, which is thought
to be an essential element for firms to survive in cutthroat markets.
When a brand’s price premium is steady throughout time, it demon-
strates the brand’s strength and power. There is currently a lack of em-
pirical data on the elements that could persuade customers to spend
more in a cutthroat market, despite the fact that price premium has
been identified as a key strategy in brand development.
People often want higher quality at higher prices and are more con-
cerned about getting their money’s worth.