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Premium


From Design+Encyclopedia, the free encyclopedia on good design, art, architecture, creativity, engineering and innovation.
257773
Premium

Premium is a term that is widely used in various contexts to describe something of high value, quality, or cost. It is often associated with products or services that offer a superior experience or exclusive appeal to consumers. The concept of premium is not limited to a particular industry, but rather, it is a marketing strategy that is used across various sectors, including finance, insurance, retail, and hospitality. In the world of finance, premium is used to describe the price paid for an option or insurance policy. In this context, the premium is the cost of the option or policy, which is determined by the level of risk involved. Insurance companies charge a premium based on the likelihood of a claim being made, while options traders pay a premium for the right to buy or sell an asset at a predetermined price. In the retail industry, premium is used to describe products that are positioned at a higher price point than their competitors. These products are often marketed as being of superior quality, and they may offer additional features or benefits that are not available in other products. Examples of premium products in the retail industry include luxury fashion brands, high-end electronics, and specialty food items. In the hospitality industry, premium is used to describe services or amenities that are offered to guests for an additional fee. These services may include access to exclusive lounges, personalized concierge services, or upgraded room amenities. Hotels and resorts often use premium services as a way to differentiate themselves from their competitors and to attract high-end clientele. In summary, premium is a term that is used to describe something of high value, quality, or cost. It is a marketing strategy that is used across various industries to position products or services as being superior to their competitors. The concept of premium is not limited to a particular industry, and it can be applied in a variety of contexts to offer an exclusive experience to consumers.

marketing, finance, insurance, retail, hospitality

William Thompson

227017
Premium

Linguistically speaking, Premium is an adjective indicating a higher grade of quality. It is used to describe objects or services having a superior characteristics and distinguished by some special attribute. A wide range of equivalent words are available in other languages to denote this concept:

luxury, superb, select, fineness, tip-top, prime, first-rate, first-class, high-end, top-notch, choice, exclusive, deluxe, superlative, preeminent, sovereign, exquisite, matchless, distinguished, unparalleled, peerless, unbeatable, paramount, incomparable

Harris Awan

223662
Premium

Premium is a noun that refers to something of high value, quality or cost. Synonyms for the word Premium could include words such as 'luxury', 'top-grade', 'elite', 'excellent', 'special', and 'select'. Antonyms for the word Premium may include words such as 'ordinary', 'inferior', 'low-grade', 'ordinary', 'poor'. Cognates of the word Premium include a variety of words in other languages such as the German 'Premium', French 'primo', and Spanish 'primo'. Variants of the word Premium include 'Preemie', 'Premo', 'Preem', 'PREM', and 'Premie'.

Etymology, Roots, Origin, Derivatives, Language, Morphology, Lexicon, Semantics, Semantic Change

George Adrian Postea

223656
Premium

The origin of the word Premium is of Latin roots and is ultimately derived from the Latin word praemium, which translates to prize or reward. It has been in use since the 15th century and has its morphological evolution traced back to the Old French preme. The term has also been strongly linked to Old English preme, which is derived from preomian, which relates to to estimated value. The morphological characteristics of the word premium reflect the fact that it has a rather neutral connotation, as it is often used to describe something that is of high value or quality. In terms of pragmatics, the word is used in various contexts, such as insurance, finance, and various other business contexts. It also has become strongly associated with businesses and advertisements that strive to offer the best services in terms of quality and value.

Etymology, Morphology, Latin, Praemium, Reward, Quality, Value, Insurance, Finance.

Henry Fontaine

203521
Premium

Premium is a marketing concept for products or services that offer a high quality or exclusive appeal to consumers. It involves positioning a product or service in a more desirable category than usual, including through product innovation and marketing campaigns. Premium products are usually positioned higher in pricing, making them accessible to only certain markets. Examples of premium products include high-end electronics, specialty products for home and office, luxury cars and exclusive fashion lines.

Premium branding, luxury goods, high-end lifestyle, upsell.

Anika Patel


Premium Definition
Premium on Design+Encyclopedia

We have 216.545 Topics and 472.615 Entries and Premium has 5 entries on Design+Encyclopedia. Design+Encyclopedia is a free encyclopedia, written collaboratively by designers, creators, artists, innovators and architects. Become a contributor and expand our knowledge on Premium today.