Brand equity is the heart of reputation-building for companies and products. The branding strategy is very different for luxury brands and premium brands. The feature "high price", however, is a result of the peak performances and excellence which premium and luxury brands deliver consistently and without compromise. asks Dan Bobby, CEO of creative brand consultancy Dave. How brands are positioning their messages during COVID-19. These are used to further the brand image as being cultured and refined — for example, for their most recent collection they commissioned poetry from several modern poets, which was then shared on social media. For example, if you are in charge of an FMCG brand, you need to make sure that it is not being displayed on the lowest shelf, can be bought at high-end supermarkets, is not heavily discounted and in general is not cheaper than other premium brands. Valentino’s unique brand position is also cemented by the right collaborations. A brand is considered a premium brand when it delivers a consistent set of premium features over a long period of time. With solid equity, the quality of a service or product speaks for itself. You know that even 50 years down the line, these brands will be manufacturing top of the line products. 'Premium' is a hard thing to quantify but whatever it is, car brands want it. Price sends a psychological message related to value: things that cost more are assumed to be of higher value. Ideally, premium brands will reach both luxury and premium consumers. Premium brands on the other hand, are defined by their price-quality ratio – we feel that it is worth paying extra for a premium brand because of the product quality, whereas luxury brands usually have a price which is far beyond their actual functional value. We bring you 9 content marketing examples by luxury brands that use their unique storytelling techniques to create riveting stories. Premium und luxury brands can assert higher prices for their products and services than brands with similar tangible functions. Luxury vs premium brands . The topic becomes really fascinating when considering brands in categories that are much more commoditized, such as grocery items, home furnishings, and even pet care. Lamborghini, Rolls Royce, Cross pens are all premium brands which have remained premium for eternity. Their music room grand could cost as much as $80,000. Here are some examples of brands that are nailing it, and others that should have held back. Will the current economic uncertainty sort out the pretenders from the real deal? For example, take Steinway pianos. ... launching a new line of products with a certain limited association to the parent brand. Pushing out PR and marketing efforts during the time of a crisis isn't always bad. The best way to position a product as a premium brand is with a high price. Gordon had to pay a premium for celebrity chefs and former Olympic coaches and athletes.