Learn what premium pricing strategy (or prestige pricing) is with brand examples and strategy pros and cons.
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By the end of this video, you’ll know what a premium pricing strategy is, why to use it, the advantages and disadvantages as well as prestige pricing examples from Apple and Nespresso.
First, we’ll answer the question “What is promotional pricing strategy?” with an explanation and definition before we explore the different reasons you might want to use this pricing technique.
Next, you’ll discover the psychological impact of pricing and how it effects a brand’s perception in the market.
Then we’ll dive into the premium pricing strategy pros and cons looking in detail at the advantages and disadvantages of each.
You’ll then learn how both Apple and Nespresso have used this strategy to perfection before we look at the final considerations for using this pricing strategy.
0:00 What Is Premium Pricing Strategy? (Pros, Cons & Best Examples)
1:22 What Is Premium Pricing?
1:52 Why Use A Premium Pricing Strategy?
2:21 The Psychological Impact Of Price
3:06 Premium Pricing Strategy Pros & Cons
3:39 Advantage #1: Higher Profit Margins
4:05 Advantage #2: Enhanced Brand Perception
4:27 Advantage #3: Enchanced Competitive Advantage
4:59 Disadvantage #1: Higher Marketing Costs
5:12 Disadvantage #2: Smaller Target Segment
5:31 Disadvantage #3: Open For Undercutting
6:04 Example #1: Apple Premium Pricing Strategy
7:08 Example #2: Nespresso Premium Pricing Strategy
#brandstrategy #premiumpricing #premiumpricingstrategy #Premiumpricingexamples #Premiumpricingstrategyexamples #Prestigepricing #Prestigepricingstrategy #Premiumpricingadvantages #Premiumpricing #brandmasteracademy
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