Premium (Luxury) refers to products or services that are of superior quality and often come with a higher price tag. These offerings are typically characterized by exceptional craftsmanship, exclusive materials, and unique designs. Brands like Gucci and Rolls-Royce exemplify this category, appealing to consumers who seek status and prestige. In addition to high-quality materials, premium products often provide enhanced experiences, such as personalized customer service and limited availability. This exclusivity can create a sense of belonging among consumers, making them feel part of an elite group. Overall, premium offerings cater to those who value luxury and are willing to invest in it.