What is meant by re-positioning? Identify and describe companies that have successfully employed this strategy.
This is for a Advertising and Promotion elective course,
Could you cite and reference the following book:
Advertising and Promotion: An Integrated Marketing Communications Perspective
George E. Belch & Michael A. Belch, 2018
McGraw-Hill Education
ISBN.13: 978-1-259-54814-7
Re-positioning is a marketing tactic that gets its name from a company’s desire to change their current place in the market. A company might need to change its message or product line in order to stay competitive and relevant. It could be due to changing market conditions, such as declining sales, or it could be due in part to a shift in the value chain. For example, if a company makes widgets for mobile devices, but then mobile devices become less popular than laptops and desktops, the firm could re-position itself toward being an Internet hosting service provider for small business owners who want to host their own sites online. You may have heard of companies making this re-positioning change by changing their names or highlighting other aspects of their business in print ads or web pages.”
Re-positioning is a marketing tactic that gets its name from a company’s desire to change their current place in the market. Re-positioning can be done for many reasons, including changing market conditions (declining sales), or it could be due in part to a shift in the value chain.
The definition of re-positioning is simple: It’s an attempt by an organization to reposition themselves as something other than what they have been doing before–and it involves taking steps toward making that change happen quickly and effectively.
A company might need to change its message or product line in order to stay competitive and relevant. If a company does not adapt, it could lose customers and become irrelevant. For example, if a company makes the same product for 20 years but doesn’t change its name or packaging, then someone else will take over this market share by changing their branding and marketing strategies.
The opposite of re-positioning is complacency–the idea that you can coast along on your old ways without making any changes at all. This approach could lead to an eventual fall from grace because there won’t be any room left for innovation in your industry if everyone is doing the same thing as each other (or worse yet–doing nothing).
It could be due to changing market conditions, such as declining sales, or it could be due in part to a shift in the value chain.
Companies that have successfully re-positioned their business include:
For example, if a company makes widgets for mobile devices, but then mobile devices become less popular than laptops and desktops, the firm could re-position itself toward being an Internet hosting service provider for small business owners who want to host their own sites online.
The key is to think about how you can use your existing assets in a way that will help you achieve your goals. For example, if you have employees that are knowledgeable about web development and design skills (such as graphic designers), why not put them to work building out marketing materials on behalf of your organization?
You may have heard of companies making this re-positioning change by changing their names or highlighting other aspects of their business in print ads or web pages.
For example, if your company is called “Panda Mobile” and you want to position it as an enterprise software company, you could make the following changes:
Other companies have changed branding colors or added new product lines altogether – often with great success.
Companies that successfully re-position themselves are able to sell the same final product at a lower price point while gaining loyal customers who want more than one type of merchandise from them. An example of this is Apple, which has been able to maintain its position as the world’s most valuable brand despite having low-priced products such as the iPod.
Companies that have successfully re-positioned themselves include:
As you can see, re-positioning is an important part of marketing that many companies are doing today. It’s not just a tactic – it’s a strategy! A good example is the company known as Starbucks, who began as a coffee shop but then moved into other markets such as tea and baked goods over time. When their original product line failed to capture customers’ interest anymore (because there were so many other options out there), they changed their image from being “just coffee” into something new altogether – this gave them room to grow again in other areas while staying true to themselves at the same time!
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