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Brand Re-positioning: What is it & Who was Successful at it?

What’s Brand Positioning? 

 

Positioning is the way customers perceive your product. There are 3 variables that effect your positioning: price, quality and benefits. Before you start your business it is very important to understand how these variables can effect your business in the long-term. You need to research and be aware of what your competitors are offering in your industry. According to numerous studies, the more competitors in an industry, the harder it is gain market share. However, you need to find market gaps. By understanding the price, quality and benefits, thus the values a customer has, then you may be able to find to find niche products to provide.  

Think about it. Most people attribute a lower price with lower quality, but the value for that market is the cost.  

There are 7 bases you can position yourself in the market:
  1. By product attributes: Hyundai Excel ( low price) 
  2.  By benefits offered: Colgate toothpaste (cavity control)
  3.  By price/quality: Kmart ( low prices high value) 
  4.  By product class: Budwesier (King of Beers)
  5. By classes of users: Mother care (baby products)
  6. By being aware of your competitors: (Coke vs Pepsi)
  7. By combining the above strategies: J&Js affinity brand combines product class (mother-care) and providing hair conditioner for women over 40. Here they are targeting the mother and baby.  

In order to successfully re-position yourself in the market, you need to understand how consumers currently view you. 

What’s Brand Re-positioning?

 

Brand Re-positioning is changing the image of your company and/or product to target a different or wider market.

     Successful Brand Re-positioning Examples

  • Old Spice Resurrected: I bet you thought of your dad. Due their sleek marketing ad, they have been able to change their market overnight to a younger audience. If you haven’t seen any of these ads, or heard of this-you live in a cave! 



  •  
  • McDonald's: McDonald's teamed up with Weight watchers to provide healthier food choices. Due to the black-lash they received from serving fatty, high carb and oil; they needed to change to maintain a market. Lesson learned- It’s important to understand that society changes, and consumers have become more health conscious.

https://encrypted-tbn0.gstatic.com/images?q=tbn:ANd9GcQQxbXZ6QW5JU9dlxw0wl_KFbl3FQSBH7uxaCENanlRKj7f_N3r9w
  • Virgin Blue becomes Virgin Altantic. Virgin Blue found it hard to survive with the many competitors offering cheaper flight rates. They decided to re-brand and re-position their market to the premium economy class. At that time, Qantas had monopolised the market share. They saw the market gap, and took advantage of the odds.   
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