As we can see from the past and current situation, the marketplace is always changing and not just about purchasing and buying between consumers and sellers. More and more firms begin to concentrate on creating a positive image for a product. A firm can choose several positioning strategies, including strengthening the current position, repositioning or try to reposition the competition. (Hartline,2005) Brand repositioning is one of the most effective ways for a firm to solve tough situation. A firm should reposition its brand under the following four circumstances: when the first position is wrong, when there is strong competition in the marketplace, when the target consumer is to be changed, and to rebuild a brand’s personality. Every …show more content…
There are many factors which can influent consumers make decision whether they purchase the product or not, such as physical environment, perception, personality, lifestyle and culture. Customers will change their mind to not buy a product because of style, color, price or their own idea changed, such as consumers will notice the image of the brand instead of the function of the brand.(Ferrell, 2005).For example, when P&G has just entered in China, its original position of brand “Rejoice” all-in-one shampoo is bring people convenience and flexibility of their hair. Later, P & G in market development found that consumers most need is to establish self-confidence, then from 2000 “Rejoice” reposition its brand to “self-confidence” instead of “convenience and flexibility” for the demand of consumers. (Hartline,2005) Consumers are the focus of the marketplace because whatever merchant do is all attempt to attract their needs and desires. Merchants are not only the people who sell products to consumers, but also should see the investment with a long-term sight. Consumer needs is changeable, maybe sometimes it will affect a firm’s original plan, but firms should always remember that consumers are god. Then a firm probably has a great prospect. Finally, when a firm realized that customers have a vague impression of their its brand, then it is the right time for a
The first P that the paper will address is Product. Professionals, researchers, and students of marketing must understand the importance of crafting the right product to satisfy the needs of the intended consumer. This P has a lot to do with the product, from design to production to distribution. This P also has a great deal to do with the consumer. Professionals and organizations of marketing must know the target consumer very well. When the marketing professional or marketing firms has an extremely clear concept of the intended consumer, they will be in a strategically stronger position to introduce a new product or service. (Ehmke et al, 2005)
One of the many reasons why I love branding and working with our clients is that we get to know a lot of people in a lot of different industries. We spend a lot of time learning intimately about their products and services to help serve them well. And, we enjoy helping them understand what we do as a firm and, more importantly to them, how branding can serve their organizations.
Catherine, W., Tat Pui, L. and Henrik, U. (2011) The Roles of Branding for a Brand Entering
To regain some of its market share in its “growth driven” and “stable profit generators” sectors, Sony can reposition its competition in the minds of consumers. For instance, Sony can use comparative advertising to demonstrate that its brands are superior to its competitors. In this situation, Sony can attempt to alter the portrayed image of its competitor, Nintendo, and position its PlayStation game console as the better-quality product (Positioning(marketing), n.d).
According to Keller(1993) the effective brand positioning gives a brand a competitive advantage or “unique selling proposition” that determines a reason why consumers are buying this product or service (Keller, 1993). Similarly, Kay (2004) argues that brand’s strength depends
The chances of the company’s initiative in regaining its initial image could only be successful if it gives the existing marketing strategy a face-lift. For the company to regenerate the consumers’ interest in the new brands of products, it has to establish a link between the traditional product brand and the current brands.
A brand is an organisation, product or service which has created an emotional connection with their consumers in order for them to favour their brand over their competitors. It is incredibly important for brands to keep up their image and one little thing could change the global perception of a business. It takes a lot to maintain a brand image that has been built up over a long period of time and even more to regain it if that reputation is lost. Brands are created through various different aspects such as their visuals, tone of voice, advertising, actions and reputation. The combination of these will leave their consumers with long lasting emotions and perceptions of a particular brand and will effect whether they support a business or not and whether they would favour or avoid it. When a brand looses their image it can cost a lot of money and time to rebrand to prevent complete failure of the product or service.
The positioning strategy should be driven by the market, rather than by the ambitions of the product champions. The source of the problem is failure to understand how consumers' value product attributes. In all, over-appreciating a breakthrough or new technology that
This gain value and addresses a key decisive achievement factor in the industry (Grant,2010). As position is important to offer convenience and a deep assortment, An extra unique intangible resource would be their brand representation and customer loyalty, this is vital since it can attract or attract consumers and it could be necessary to build the brand image .
our product in consumer’s mind and thus creating such a market mix that consumer readily buy’s
Branding in a business is important as it shows the reputation of the business. The importance in the buyer’s behaviour can affect the businesses sales, as it can increase or decrease their sales. Consumers are responsible factor for the sales of any products or services, so when a new product is being released in the market, understanding consumers buying behaviour becomes very essential. The business has to study and understand the
Earlier companies use to concentrate on making a brand image is to only entice new customers but these days theories have turned around. Maintaining the brand has become one of the prime targets’ for marketing professionals in order to gratify existing customers.
This is a very good marketing strategy to encourage prospective customer to buy the products and ensure customer trust and loyalty.
In recent times, branding has played a pivotal role in some brands’ success. This has been made possible through the ability of some marketers to capture the essence and minds of people (consumers), and put the trends and characteristics into the personality of a brand. Customers have always found ways to identify themselves with certain products, and on several occasions, branding campaigns
Consumer behaviour is complex and a company has to fit their product more closely and satisfy their customer needs more fully than the