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Relevance of Positioning and Repositioning - Doc

   

Added on  2021-02-19

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MARKETING PROBLEMSFACING A BUSINESS
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Table of ContentsINTRODUCTION...........................................................................................................................3MAIN BODY...................................................................................................................................3TASK 1............................................................................................................................................3Relevance of positioning and repositioning for marketers.........................................................3TASK 2............................................................................................................................................4Positioning Map of Burberry......................................................................................................4TASK 3............................................................................................................................................5Methods of repositioning............................................................................................................5CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
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INTRODUCTIONBurberry Company was established in the year 1856 and was the first company to introducetrench coat. In this report, a study has been conducted on the various positioning andrepositioning strategies that the company can adopt in order to change their current targetedmarket and the importance and benefits of adopting such strategies. This report also emphasizesupon different repositioning methods that the companies like Burberry can use in order toformulate appropriate policies.MAIN BODYTASK 1Relevance of positioning and repositioning for marketers.Brand Positioning can be defined as a market process demonstrating the method in which themarketers of a company can differentiate themselves from their competitors and target the nichemarket trying to fulfil it. Marketing communication is a very influential technique which thebrands can use so as to improve their marketing techniques. There are two main approaches forpositioning namely functional approach and expressive. Under functional, focus is onemphasizing a products features, benefits etc. and under expressive one, satisfaction ofcustomers, targeted users, preserving culture etc. is important (Pedersen, Gwozdz and Hvass,2018). Repositioning of a brand on the other hand refers to implementation of changes in the status of abrand so that it can compete with the existing brands in the industry. Here, better i.e. improvedproducts are launched in the new targeted customer base. Burberry intends to reposition itself inthe premium market segment by minimizing their sales to retailers and whole sellers on thelower end. Benefits for Burberry :- Burberry intends to develop a better marketing channels like digitalmarketing so that it can communicate the brands qualities in a more efficient manner and sincethey are targeting new market segments, they should properly analyse the competitiveenvironment. Repositioning will help the company in redefining their scope and presence andthus enhancing their sales and quality. Since the company intends to upscale their operations andtarget premium sector competing with luxury brands, Burberry should reduce the easyavailability of their products in the market by controlling the supply to whole sellers and retailersestablished in the lower income segment (Hassan, Nadzim and Shiratuddin, 2015). The company3
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