Honestly, I think the idea behind "premium" would be better ingredients, and more artistic, well thought-out favor combinations.
For instance, a vendor that makes their own flavorings, offers premium e-liquid in my book. Also, a vendor that offers well-thought out flavor combinations, that mix perfectly, is premium.
A vendor that uses flavorings from one or more of the major flavor companies, and sells tons of basic e-liquids like peach flavor, blueberry flavor, chocolate flavor, etc, would NOT be premium in my book .
Yes.
Here's my very, very brief opinion. Of course any company can say "premium," but the designation is ultimately made in the mind of the consumer. How about this: Premium is a designation in the mind of the consumer that justifies higher prices. Or, for products, premium is when a product has a higher value than competitors. Not value as in "bang for your buck," but in more desirable, costs more to make, etc. For brands, it's related to their products, but with an additional marketing component.
To me, "I like the taste a lot" is not premium. I happen to enjoy Tombstone frozen pizza quite a bit (why am I embarrassed to admit that?). Tombstone is not a premium frozen pizza. There are local restaurants which I would agree sell a "premium" pizza, but I don't care for their pizza. But whether or not I like the taste is not directly related to my perception of how premium their pizza is. It's about the quality of ingredients and attention to detail. Mass production tends to lessen a product's image as premium as well, though not always, and scarcity tends to increase it. Like the difference between a good craft beer and a Budweiser. Bud doesn't suffer from a lack of QUALITY so to speak, and I drink it plenty. But I'm willing to pay a bit more for the craft beer, which by my definition makes it premium I suppose. But there's nothing wrong with liking a juice and not considering it premium. I consider my ADV non-premium.
For brands or companies, as opposed to specific products, there's a marketing or "branding" factor as well. It's about how the company presents their image, with things like their website, juice descriptions, packaging, and just overall marketing. This is subjective, but I'm put off by flashing or scrolling banners, vivid neon colors, grainy low res logos, and ridiculous vapor clouds everywhere on a company's website. Difficult to navigate doesn't help. How about the stock pictures of people in lab coats in a fake laboratory? Not impressed, in fact it's a negative. It may not matter to many, and that's fine. But it impacts my "feel" of the company. It takes more money to have a fancy package and website, which makes the juice price higher, which then ADDS to the "premium" image. This is pretty basic marketing, and it works on many people, including me, for a reason. For the same reason, many instantly reject "high-end" marketing as just a fancy-pants excuse for overpricing. A brand image as premium REQUIRES premium products though, or it is quickly recognized as fake.
A side point: I remember reading about a "silver spoon" study a year or two ago from a university, in which people were given identical food on various different utensils, and hooked up to a brain-monitoring apparatus. Identical food eaten with the silver spoon actually tasted better to the participants vs. a plastic spoon. This was not a survey after eating, their brains literally perceived the food as tasting better while they were eating it. Worth a Google maybe, don't take my word for it...