Importance of Positioning & Repositioning
Added on -2021-02-21
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MINTEL FASHIONACCESSORIES REPORT
Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3TASK 1............................................................................................................................................3Relevance and Importance of positioning and repositioning for marketers. Implications in caseof successful business move........................................................................................................3TASK 2............................................................................................................................................4Map demonstrating position of Burberry and the change in its position if Positioning orrepositioning is carried out..........................................................................................................4TASK 3............................................................................................................................................5Two methods for Burberry to achieve repositioning..................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONPositioning and Repositioning are those strategies which can rejuvenate the presentposition and marketing conditions. These help any organisation in targeting their customers in adifferent way so that they can expand its customer base. Burberry is a British luxury fashionhouse which is having its headquarters in London, England. It serves over a number of countieshaving its store in 498 locations. In this report various strategies of Burberry brand and itsdifferent implications have been highlighted.MAIN BODYTASK 1Relevance and Importance of positioning and repositioning for marketers. Implications in case ofsuccessful business move.Burberry Group Plc is an international company and it regularly needs to uplift its presentpractices and policies to retain the present position and aim higher. For this purpose, it isessential for an organisation to continuously position and reposition itself by formulating regularstrategies.Importance of Positioning and repositioning :- For marketers, it is necessary to regularly updatetheir methods and for this purpose, they adopt positioning and repositioning strategy which hasfollowing importance (Sethi, Kaur and Wadera, 2018).Coping with market changes :- After placing any product in the market, marketer has toregularly monitor the changing trends in the market to observe the significant changes and howthey can accommodate these changes in the product positioning.Promoting consumer goodwill and loyalty :- Regular positioning and repositioning strategieskeeps the company in news continuously and popularizes the brand name. This helps inenhancing the goodwill and increasing customer loyalty.Designing Promotional Strategy :- To promote the product, its strategy depends on the presentpositioning and repositioning of brand. The various advantages and disadvantages of the strategyare also determined (Acharya and Gupta, 2016).Attracting different types of customers :- Positioning strategy helps the consumers inidentifying those markets or products which are best serving their needs and hence helps inattracting the customers for marketers.3
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