An example in today's time would be Apple iPhone as individuals are willing to spend premium costs for mobile phones. People do regard buying this because of quality, features and it has also become a position symbol in today's time.
The key distinction here exists that a luxury brand, to remain luxury, has to include limits on the volume of sales. By its nature, it can't be available to everyone. Premium, on the other hand, can still enjoy big sales sculptures at an over-average rate. Premium brands' target customers exist as those who can push themselves to bear higher than what they pay for an average product.
To learn more about Premium,refer here :
https://brainly.com/question/8972111
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