Brands are built to serve the customers their best and become appealing to them. All the brands have to offer in-demand benefits to their customers, and during this process, all the brands suffer a lot of ups and downs.
In the downfall phases of the brands, they have to fight to regain their existing position in the market. They might also lose if they don’t make the right decisions. In such times, smart brands opt for brand repositioning or product repositioning. It depends upon the needs and situations.
In this article, we have clearly defined brand repositioning and product repositioning. If you also want to know more about them and improve your brand’s current situation. Read the article for 2 minutes only.
Let’s begin with the value !!
What Is Brand Repositioning?
Brand Repositioning refers to bringing some significant changes in the brand to maintain the company’s identity. Typically, companies change one of their 4 P’s of marketing – Place, Product, Price, or Promotion to produce better results.
Brand repositioning strategies are mainly used when customers lose their connection with your company and your sales decrease. Thus, your company decides to bring some changes at that time through brand positioning and repositioning.
Evolution is one of the most important if you’re willing to be on the top in the mind of your consumers.
Why Do Companies Need Brand Repositioning?
When brands lose their existing connection with their customers, they should opt for brand repositioning to get their company on a better track.
We have mentioned some usual reasons most companies go for brand positioning and repositioning:
- Face Downfall In Sales: Companies see a significant downfall in their sales. They want to come back on track.
- Industrial Turbulence: When the industry is hit by the latest technologies, more efficient business models, or new competitors in the market. Thus, they have to take a step towards brand repositioning.
- If Your Brand Doesn’t Hit the Younger Generation: When companies find that their products or services need to attract younger generations. There is an acceptable possibility; It might never do. Thus, it becomes a complex situation for the companies. And, they have to reposition their brand to grow in the future with stability.
- Your Products or Services Are Evolved Now: When companies decide to launch new products or services. They have to ensure that the new launches sync with their existing brand promise.
Brand Repositioning Strategies
We have mentioned some of the research-based brand repositioning strategies that could also help you bring positive changes to your brand:
Brand Relaunch
A severe brand goes through various phases of evolution. It has to face a downfall, bringing multiple changes in its sales and market share, repositioning, rejuvenating, and restructuring strategies.
It is not only for brands who are facing downfall but also for the one who wants to level up their business. Thus, we have hand-picked three ways to relaunch the brand:
- Repositioning refers to repositioning your brand in the hearts and minds of the customers. Thus, they would change the current perspective of your brand.
- Change the Channel and Distribution Strategy: Changing the distribution channel is one of the effective ways to relaunch the brand. Thus, it would help if you improved its marketing-related stuff.
- Revampation of Marketing Mix: You can also relaunch the brand by bringing significant changes to the marketing mix. Marketing Mix is the product, price, place, and promotion. It will impact the brand effectively.
Brand Rejuvenation
Brand rejuvenations mean adding new values and attribute to the company. It is to improve the value proposition of the product/service. Most companies reintroduce their existing products with new benefits by adding prefixes like new, super, premium, etc.
Brand rejuvenation can revive a brand or even help the brands that are in profit but facing a lot of competition over an edge.
Brand Proliferation
It refers to the increase of various brands in a product or product category. Thus, the independent brands increase. It helps the companies to expand their market and market share.
Brand Acquisition
Developing a brand is a complicated task that requires a lot of time. Thus, all intelligent companies like to directly adopt the trending/successful brand acquisition process to get effective brand development.
Objective Life Brand Repositioning Examples
Domino’s Pizza
Domino’s has started getting tons of negative feedback at a time. Then, they decided on brand repositioning to get their pizza’s respect back.
Thus, the first improved their pizza recipe and then enhanced consumers’ perceptions. They accepted that their pizza was garbage. Then, they refreshed it by introducing a new logo, which changed the consumer’s mind.
Spotify
Spotify is one of the excellent brand repositioning examples. Because, in the pandemic, every company was out of budget, and thus Spotify ads suffered a lot. Then, Spotify decided to apply brand repositioning. Then, it offered an addition of curated playlists. Around 150k podcasts have been introduced on Spotify.
What Is Product Repositioning?
Product repositioning means changing the perception of your target market regarding the product. In simple words, you enhance the understanding of your target audience regarding your product features.
Product Positioning refers to the customer’s habit of seeing a product and comparing it with the respective competitors. While Product Repositioning is a method for a company to bring some valuable changes in the product to make it more acceptable amongst the target audience.
Companies have to modify the products based on the consumer’s demand. It is a compulsion for the survival and growth of every company.
Product Repositioning Strategy
Improve Your Product/Service
Firstly, it is better to look at your product/service and improve it to the extent you can. Because none of the products is perfect, each has a sense of improvement to become better accepted in the market.
Listen to Your Customers
It is the most relevant product positioning strategy. Companies use all the customers’ valuable feedback to improve the product or service. It helps companies improve their product or service.
Observes the Competitor’s Market
When a company doesn’t find any way to improve its products or services, it can start analyzing its competitors to better understand the audience’s needs, wants, and reactions.
Analyze Social and Trendy Environment
One of the best ways to implement product repositioning strategies is to analyze the social and trendy environment. It helps the companies understand the target audience’s current thought process and where their actual point of interest is.
Real-Life Product Repositioning Examples
Mc Donald
In the early stages of Mc Donald, consumers severely criticized them due to the negative impact of their food and employees’ bad relations with them. Then, McDonald has implemented a product repositioning strategy and changed a lot of things about it:
- Firstly, they have taken a step towards image repositioning. They have changed their philosophy from “billion served” to “billion heard.”
- They launched a mobile application to have a digital experience. Plus, they have also launched the latest program named “create your burger.” It was also included under the product repositioning strategy, where consumers can create their unique burgers with the help of digital kiosks.
Thus, the company regained its valuable image in the market and created much better. It is one of the excellent product repositioning examples.
Difference Between Brand and Product Repositioning
Brand Repositioning and Product Positioning have similar meanings in real life. Still, they are two different phenomena to achieve survival and growth of the business ultimately.
Brand Repositioning consists of all the required changes in the entire business model, customer acquisition model, employee onboarding procedure, or anything essentially related to the business is called brand repositioning.
Product Repositioning means bringing changes in the products/services or closely related factors. Under product repositioning, companies must understand the consumers’ current tastes.
Final Words
We hope you like the article. It helps you understand the accurate meaning of brand repositioning and product repositioning. It might also have helped you to understand the significant difference between both.