What is a difference between product positioning and repositioning of products?
. It is ensures that all brand activity has a common aim; is guided, directed and delivered by the brand’s benefits/reasons to buy; and it focusses at all points of contact with the consumer.
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Positioning is a marketing strategy that aims to make a brand occupy a distinct position, relative to competing brands, in the mind of the customer. Companies apply this strategy either by emphasizing the distinguishing features of their brand (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising. Once a brand is positioned, it is very difficult to reposition it without destroying its credibility. It is also called product positioning. PROCESS OF BRAND POSITIONING
STRATEGIES : BRAND POSITIONING 1. Quality Positioning
2. Value or Price Positioning
3. Benefit Positioning
4. Problem and Solution Positioning
5. Competitor-Based Positioning
6. Celebrity-Driven Positioning
IMPORTANCE OF BRAND POSITIONING
BRAND REPOSITIONING Repositioning refers to the major change in positioning for the brand/product. To successfully reposition a product, the firm has to change the target market’s understanding of the product. This is sometimes a challenge, particularly for well-established or strongly branded products. Firms may consider repositioning a product due to declining performance or due to major shifts in the environment. Many firms choose to launch a new product (or brand) instead of repositioning because of the effort and cost required to successfully implement the change. When a company sees a decrease in sales over time and/or major changes coming down the line, they know it is time to implement changes within the company. Brand repositioning is when a company changes a brand's status in the marketplace. This typically includes changes to the marketing mix (product, place, price and promotion). Repositioning is done to keep up with consumer wants and needs.
1.BRAND RELAUNCH
--Change in channel and distribution strategy:
--Revamption of whole marketing-mix:
2. BRAND REJUVENATION:
3. BRAND PROLIFERATION:
Advantages:i. Brand proliferation may help to expand company market as well as the company’s market share ii. It may also increase the company’s clout at the retail level by offering variety iii. New brands may generate excitement for the sales team of the company. Disadvantages:i. More brands from a company’s stable enhances competition in the market ii. Brand proliferation may create brand cannibalisation. 4. BRAND ACQUISITION:
5. BRAND PORTFOLIO RATIONALIZATION:
6. BRAND EXTENSION
a) Brand extension to other items in the same product line:
b) Brand extension to items in a related product line:
c) Brand extension to items in an unrelated product line:
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