Repositioning strategies
- 2. Brand repositioning Brand repositioning is when a company changes the brand's status in the marketplace. This typically includes changes to the marketing mix, the product, place, price and promotion. Repositioning is done to keep up with consumer wants and needs.
- 3. Brand repositioning strategies The generic repositioning strategies discuss the following ways by which organizations can attempt to reposition themselves: (a) Image repositioning (b) Product repositioning (c) Intangible repositioning (d) Tangible repositioning
- 4. Image repositioning When the same product of an organization is launched again in the same market it is termed as repositioning. The idea is to change the image of the organization, so that it is perceived favourably by the target audience.
- 5. Product repositioning Targeting the same market with a different product is called as product repositioning. This is done to make the product more relevant and attractive to the current target market. Most of the organizations come out with product modifications and newer variants to attract customers.
- 6. Intangible repositioning When the same product is launched for a different target market, it is called as intangible repositioning. The company is able to locate a segment which has requirements similar to the requirements of the segments it is serving. The company retains its value proposition and offers it to new segments.
- 7. Tangible repositioning When a new product is launched for a different target market, it is termed as tangible repositioning. Both product and target market are changed. A company may decide to move up or down a market by introducing a new range of products to meet the needs of the new target customer.