Limited-time offer! Save up to 50% Off | Solutions starting at $6 each  

MINTEL Fashion Accessorize Report UK - January 2018

Added on - 23 Nov 2020

Trusted by +2 million users,
1000+ happy students everyday
Showing pages 1 to 3 of 6 pages
MINTEL Fashion Accessorizereport - UK - January 2018
Table of Contents1) Explain the relevance and importance of positioning and repositioning for marketers. Whatare the implications for the performance of the business if such a move is successful?.............12) In the case of Burberry, how the positioning of the brand will change as result of thisprocess. In presenting map, also identify where on the map the following brands would belocated: Gucci and Primark.........................................................................................................13) Provide two methods which brands such as Burberry might use to achieve repositioning....2REFERENCES................................................................................................................................3
1) Explain the relevance and importance of positioning and repositioning for marketers. What arethe implications for the performance of the business if such a move is successful?It is very important for company to position their products in such a way that it attractpeople mind automatically (Importance of product positioning.2016). Also, it enables increating a strong brand image in the market. Besides this, it benefit in distinguishing productfrom competitors (Lei and Moon, 2015).Product positioning involves identifying points ofparity and points of differentiation that enable a company’s product to both meet marketstandards while offering consumers additional value on key dimensions such as quality,innovation, price, etc. In addition to this, positioning helps in conveying message that whycompany product should be preferred over others of similar nature. Furthermore, it is useful incommunicating differentiated offering to identify niche market segments. Positioning enables insuccessful implementation of marketing strategies. Similarly, repositioning reflects inmaintaining brand status in the market. It helps in conveying change in product features andmonitoring overall market conditions. Alongside it, delivering of specific message instantly hitminds of people. With this, there occurs a shift in their needs. So, people start buying companyproducts again. It also enables in retaining lost brand equity.It can be analyzed that if positioning is successful customer automatically gets attractedtowards products. It helps in reflecting a stronger brand image in the market which is identifiedeasily by customers. Also, effective brand positioning helps in ease in distinguishing productsfrom competitors (Neirotti, Raguseo and Paolucci, 2016). This results in rise in sales and profits.Moreover, with change in marketing strategy company is able to determine customer’s needs andproduce products accordingly. However, it is easy for company to promote their products ineffective way. They do not have to make frequent changes in strategies or marketing channels. Itimproves their market value and brand image. This results in enhancing business performance. Arise in revenue helps in gaining competitive advantage in the market. The company builds a largeloyal customer base.2) In the case of Burberry, how the positioning of the brand will change as result of this process.In presenting map, also identify where on the map the following brands would be located: Gucciand PrimarkIn positioning map there are basically four factors on basis of which companies arecategorised. They are high quality and price and low quality and price. Now, in present case it1
desklib-logo
You’re reading a preview
Preview Documents

To View Complete Document

Click the button to download
Subscribe to our plans

Download This Document