Brand repositioning refers to changing the positioning statement of a brand. Usually done to keep up with consumer wants and needs, repositioning refers to changing a brand’s status in the market – changing the consumer's’ perception of the product’s key benefits with respect to the competitors’ offerings.
For a clearer understanding of the definition, let’s have a look at an interesting example before moving on to why you must consider brand repositioning.
Dettol, one of the most widely-trusted brands, earlier sold its soap positioned as a beauty product, which didn’t go down well with consumers. Dettol was associated with being an antiseptic liquid that healed cuts and wounds, and killed germs. Realising this anomaly, the brand repositioned the soap as a ‘germ-destroyer’. Thereon, it fared extremely well.Moving right back to the reasons, here’s why you may want to reposition your brand:
If your sales are diminishing it’s probably time to step back and assess the situation. Maybe your brand needs to be refreshed. There must be clarity both inside and outside the company. It ensures everyone is moving in the same direction.
Your brand had a confusing positioning statement to begin with. Or maybe you didn’t have one at all. That’s when people are confused about what you stand for, creating a need for repositioning.
Original statement & new products are out of sync
You may add new products to your line over time or revamp existing products to keep up with the changing times. Over a period this may lead to an anomaly between the original positioning statement and newer, refreshed products.
When competition gets ruthless
Competitors will either blow your stand over with something much better or over time make your positioning seem dated and ineffectual. Its times like these that call for repositioning.
The need to stand out
When you need to stand out among competitors and compete on something more than just price repositioning is the way forward. It shows your target audience that you have more to offer and are worthy of the higher price you command.
An old brand needs a new statement
You may have gained the trust of a large consumer base as your brand is old, however, on the flipside you may come across as an outmoded one if you do not refresh your positioning to keep up with the times.
For a better future
You will stand to increase your business opportunities with proper repositioning when prospects recognise your relevance to their needs and how you’re different from the other in the market.
(Pro-tip: Never let your new brand position stray too far away from the original one as consumers already relate your brand with a certain image and qualities. Keeping the essence intact will help maintain good recall value.)
Before we wrap up, let’s read through another shining example of repositioning done right.
Earlier, Old Spice was considered to be a fragrance for older, ageing men and when one associates a brand with something old, it leads one to think of stagnancy.
Realising this, the brand switched to using the young, agile and well-loved NFL Player Isaiah Mustafa as their ambassador. The move helped change the mind-set of youngsters. Old Spice is now considered to be the perfect ‘manly’ fragrance irrespective of age.
Brand repositioning comes with its own set of perks and challenges so carefully consider and weigh your options before making a move!
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