On Monday 10 September the dynamic duo of Sarah & Lizzie (The Gild’s Creative Director & Strategic Innovation Director) travelled up to Port Sunlight to share with Unilever’s Personal Care team some of our thoughts on Premiumisation.
At The Gild, we simply don’t believe that Premiumisation is as simple as charging consumers more for a product. The consumer must be getting something in return for this premium and we believe it is about creating ‘intrinsic value’ within a brand. This can be done through functional benefits such as product or packaging truths on which we can base justifiable claims, through to emotional benefits which provide the consumers with a sense of delight – trust, reward and status.
What is critical to remember about Premiumisation is that it is relative – one person’s mass product is another person’s premium product and another’s luxury. It all depends upon the judgment criteria being applied, the social & cultural context as well as the economic reach of the consumer. This is all the more important when working on global brands which play in both developed and developing markets.
We provided Unilever with seven areas that we felt they could add intrinsic premium value from a technical perspective (product and packaging). If you’d like to know a little bit more please get in touch…