Premium-priced

Premium-priced describes a product or service that is offered at a higher price point than its competitors or comparable alternatives. This elevated cost typically reflects a perceived or actual superior quality, exclusivity, advanced features, brand reputation, superior craftsmanship, increased durability, or exceptional customer service. Companies employ premium pricing strategies to target consumers who prioritize value over cost and are willing to pay more for perceived benefits and often indicate a commitment to a high standard of excellence and prestige. The cost factor often translates to a better overall experience, a more desirable product, or an increased sense of status or luxury. The premium price can be viewed as an investment in superior quality or an embodiment of luxury.

Premium-priced meaning with examples

• The new line of designer handbags is aggressively premium-priced, reflecting their intricate craftsmanship and use of rare, imported leather. The company hopes to attract affluent customers who value exclusivity and are willing to pay a significant premium for a bag that reflects their social standing and refined taste. This pricing strategy caters to a niche market segment.
• Due to the use of premium-priced, organically sourced ingredients, the restaurant's dishes are considerably more expensive than those at competing establishments. The chef believes that this higher cost is justified by the superior quality and flavor of the ingredients, which appeal to health-conscious diners. They also claim the taste is noticeably improved.
• While the standard model is reasonably priced, the premium-priced version of the smartphone includes enhanced features such as a larger display, improved camera, and increased storage capacity, making it a worthwhile investment for users who demand optimal performance and the best technology available. These improvements offer greater ease of use as well.
• The luxury car manufacturer's vehicles are consistently premium-priced, a deliberate strategy to cultivate a brand image of exclusivity and high performance. The brand targets affluent consumers who desire the latest safety features, the most innovative technology, and are willing to invest in a car that reflects their success and prestige. The price matches their quality.
• The subscription service, offering ad-free content and exclusive access to bonus features, uses a premium-priced model to generate revenue. While the basic version is available at a competitive rate, subscribers opt for the premium tier to remove advertisements and gain access to the full extent of the product's content for an elevated experience and convenience.