What is Repositioning?
Repositioning is sometimes used by organizations when faced with particular problems. To successfully reposition a product, the firm has to change the target market’s understanding of the product. This is sometimes a challenge, particularly for well-established or strongly branded products.
Firms may consider repositioning a product due to declining performance or due to major shifts in the environment. Many firms choose to launch a new product (or brand) instead of repositioning because of the effort and cost required to successfully implement the change.
What to review?
- What is repositioning and why is it used?
- Examples of repositioning
- Should we reposition or launch a new brand?