Business transformation is a NASTY thing, not every business is able to do so.
Transforming a product or business itself consumes a lot of MONEY $$, Manpower, Risk etc. and only few gets the success whereas all others fail. Which is why when you start a Business, keep your mind & vision very clear, make sure you know what you are going to do and where you are going to POSITION YOUR PRODUCT.
If your product deserves a premium positioning then put it accordingly in the market and let the market know that your product is of PREMIUM category. It will be a BIG MISTAKE if your product is of premium category and because of some reasons you are positioning it in a lower value market and have plan to raise it to Premium level after a year or two.
For Eg: If you are making a Ferrari then you cannot position it along with low cost Cars because if you do so then CUSTOMER will consider this Ferrari just like another car and it will LOSE its premium status. This is why first you need to identify your product, its value and then Position it accordingly in the market.
For the PREMIUM products, the CUSTOMERS are different & their behavior is different. Premium Products takes time to penetrate the market as compared to regular products.
Remember, CUSTOMER's PERCEIVED VALUE of a Product is from the beginning itself and Customer will see your product how you want it to be seen, feel & consumed.