Premiumize

To enhance or upgrade a product, service, or experience by adding features, benefits, or elements of higher quality or exclusivity, typically to justify a higher price point. This process aims to differentiate offerings, attract a more affluent customer base, and increase profitability. It involves strategic adjustments to branding, marketing, product design, and customer service to reflect the added value and create a perceived sense of luxury or superiority.

Premiumize meaning with examples

• The company decided to premiumize its existing software by adding advanced AI features and personalized support, hoping to attract corporate clients willing to pay a premium. They focused on refining the user interface and expanding customer service to increase the perceived value of the service in the marketplace.
• To attract a more discerning clientele, the hotel chain decided to premiumize its breakfast buffet. They added organic options, gourmet coffee, and fresh-pressed juices, thus elevating the breakfast experience to compete with nearby luxury hotels. These changes led to an improved customer experience overall.
• The car manufacturer is looking to premiumize its entry-level sedan by incorporating advanced safety features, a more luxurious interior, and a more powerful engine. By strategically adding these premium options, they intend to appeal to customers who seek advanced automotive technology and comfort.
• The marketing team planned to premiumize their subscription service by offering exclusive content, early access to new products, and personalized recommendations. They created an upgraded offering and an experience, which increased customer value and allowed them to justify a higher price point.