Bag premium is the added value of the brand. A brand can sell at a higher price than a competitive brand, which is the so-called premium ability of the brand. In other words, take Pierre Cardin as an example. Compared with Pierre Cardin, the same clothes, the same suit and a suit without a brand name, you may be willing to spend thousands of dollars more in Pierre Cardin, but in fact it is almost the same as wearing a suit without a brand name, but there is an emotional value in it, which is determined by consumers' consumption psychology.

Understand luggage premium information

Premium means that the reward given exceeds its own value. For example, this is what we often call a premium contract. It means that the thing itself was never worth so much money, but the contract gave it so much money, which was higher than its own value. Suppose this is a premium contract. Also, if the price given at the time of transaction exceeds the value of the house itself, it is a premium contract.

Premium refers to the part where the price of a product exceeds its own value. Brand premium refers to the part where the price of a product exceeds the value of the product itself. Because of the blessing of brands, many brand-name products have great premium space. For example, the price of Apple mobile phone is much more expensive than that of domestic mobile phone, but many consumers are still flocking to it, which illustrates this truth.

If your enterprise adopts the business model of profiting from commodity premium, then you should find ways to improve your commodity premium ability. With enough premium space, your enterprise can survive and develop continuously. The bigger the premium space, the better your business can do.