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Help us create premium offerings for younger generations of consumers
Challenge Type: business
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$1,600
top 25%
139
submissions
DONE
15 months ago

The word "premium" has always been associated with things like a higher cost, better quality, finer ingredients, etc. However, the concept of premium for Millennial & Gen Z generations doesn't necessarily match what their parents or grandparents viewed as premium. 

As these definitions of what is considered "premium" evolve, we are interested in your ideas & insights to help us better define premium for younger consumers, and figure out what this category will look like in the future

Deliverables
  1. What comes to mind when you hear the word "premium"?

    • What's an example of something you already buy that you consider premium?
    • What attributes make it a premium product?
  2. What is something that was NOT considered premium in the past, but now is considered premium? (to the shock of your parents/grandparents)

  3. Choose one of the five categories below, and propose a new way to make a premium offering or experience within that category

    1. Alcoholic beverages
    2. Fine fragrances
    3. Home Fragrances
    4. Body Care
    5. Pet food
    • What are the elements of your idea that make it premium?
    • Why do you think consumers would be attracted to your premium idea?
    Submissions will be graded on the following criteria:
  • 1-10 Scale
Reward Tiers
Top 5%
will share $1,000
Next 7.5%
will share $400
Next 12.5%
will share $200
Actual individual rewards will be based on the total number of eligible solutions.
Leaderboard
$142.90 Peterson Murithi
$142.90 Jennifer Miller Walden University
$142.90 Taylor Kamhong University of Virginia
$142.90 Ryan Russell Norwich University
$142.90 Phillips Staninski University of Chicago
$142.90 Joshua Y. Ansong UMaT
$142.90 Thang Nguyen University of Vermont
$36.40 Jason Dudko Urban
$36.40 Karen Miller West Virginia University
$36.40 Kate Rushton Nottingham
$36.40 Taponitya Samantaray University of Hyderabad
$36.40 Matthew Gaiser Queen's University
$36.40 Lewis Kim University of California, Berkeley
$36.40 Jamal Syed Karlsruhe Institute of Technology
$36.40 Uchegwuoagwu Omereji Rivers State University Of Science And Technology.
$36.40 Tom Nardone Boston University
$36.40 Priscilla Feliciano University of Central Florida
$36.40 L Gelauff Stanford University
$11.80 Tanner Papy UCF
$11.80 Pablo Santos University of Liverpool
$11.80 JOSHUA KILEGA Alabama Agricultural and Mechanical University
$11.80 Shanny K McGill University
$11.80 Anurag Rathore Devi Ahilya Vishwa Vidyalaya
$11.80 Avijit Majumder Manipal University
$11.80 Jerom Palimattom Tom Mar Athanasius College Of Engineering
$11.80 Moulindra Muchumari Rutgers, The State University of New Jersey
$11.80 Prithvi Raj Bhupathi RMIT University
$11.80 Bryan Chen Massachusetts Institute of Technology
$11.80 Prathamesh Mayekar Symbiosis International University
$11.80 Dominic Mukuka University of KwaZulu-Natal
$11.80 Rich Wolnik
$11.80 Jamie Shields New York University
$11.80 ERIKA FERNANDES Mumbai
$11.80 Harshajyoti Das Bangalore University
$11.80 Okpamen Obasogie Landmark University
Submission questions


What comes to mind when you hear the word "premium"?

  • What's an example of something you already buy that you consider premium?
  • What attributes make it a premium product?

What is something that was NOT considered premium in the past, but now is considered premium? (to the shock of your parents/grandparents)

Choose one of the five categories below, and propose a new way to make a premium offering or experience within that category

  1. Alcoholic beverages
  2. Fine fragrances
  3. Home Fragrances
  4. Body Care
  5. Pet food
  • What are the elements of your idea that make it premium?
  • Why do you think consumers would be attracted to your premium idea?

Which category did you choose for your premium product/experience idea?

(Required)
Alcoholic beverages
Fine fragrances
Home fragrances
Body care
Pet food
0 characters Average: 1727 characters
Your solution must be at least 200 characters long
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