Importance of Positioning and Repositioning for Marketers Assignment

Added on - 04 Oct 2020

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INDIVIDUAL PROJECT
Table of ContentsINTRODUCTION...........................................................................................................................3Importance of positioning and repositioning for marketers along with the implications...........3Positioning map and the positioning of the brand.......................................................................4Methods which can be used by the brands for achieving the repositioning................................4CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
INTRODUCTIONIn UK, various luxury brands has seen strong growth and performance in 2016 and Q1 of2017 due to the increase in the visitors of tourism sector. This improved performance and growthis because of the satisfaction of consumers from the products and services provided by thebusiness firms.Burberry is the taken firm in this assignment report which is a London basedluxury fashion firm. The company is providing a range of coats, outerwear, fashion accessoriesand cosmetics. The firm has over 498 stores worldwide. This report will cover the importance ofpositioning and repositioning for marketers along with the positioning map. This report will alsodiscuss the methods which can be used by the brands for achieving the positioning.Importance of positioning and repositioning for marketers along with the implicationsPositioning refers to the standards of the products and services in the mindset ofconsumers which are provided by the firms. Through this, a firm can determine the position oftheir products in the market. When management of a firm successfully position their products inthe proper market then it leads to the increase in the customers of the product. Whereasrepositioning refers to the process of making changes in the existing positioning of the productswhich is done by analysing the target market of the product. Positioning and repositioning is theimportant strategies for the Burberry which can be implemented in the marketing plan. Throughthese, Burberry can determine the needs and requirements of the customers which can befulfilled by the company through their products(Chungyalpa and Bora, 2015). This needs andrequirement determination is necessary as the trends and styles of the fashion industry isdynamic in nature and keeps on changing. Burberry can easily plan their future course of actionbased on the analysis of needs of customers which is also beneficial in retaining their customersand improving their performance. Due to this, the growth and profit of the Burberry also improvewhich will motivate the employees to perform better in their assigned work.Burberry can also compete with their competitors effectively if they become successful incapturing their target market. Due to retaining their customers and capturing the targettedmarket, the market share of the company can also increases. Due to determining the needs anddemand of customers, Burberry can also effectively handles the changes going on in the marketas the demands can be met by the products of the firm (Mullins and et. al., 2013). The satisfiedcustomers are the sign that the image and performance of the company is improving in the
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