Friday, August 23, 2019

How can a product be repositioned Essay Example | Topics and Well Written Essays - 2500 words

How can a product be repositioned - Essay Example The vitality of the factors and elements such as Segmenting, targeting and positioning can be analyzed form the fact that these can either make or break the future of your product or service that you intend to provide to your consumers. The concept of re positioning of a product or service in the similar way is not a new one. organizations large or small , are faced with the option of repositioning their products , mostly when the market for their current products has matured , the high flux of changing consumer demands , and also the fact that some organizations are faced with severe losses and in some cases end of the life cycle of their products . Thus by re positioning is meant that the organization decided to fabricate basically upon the core product or service. The basic re positioning idea is applied by organizations both to retain the present market share and customers, as well as bag a high number of future customers of the product or service. It is basically a long term plan, which requires detailed market research, product life cycle analysis, market research, competitor analysis etc. Also this provides the organization to renew the marketing mi and change how they deal wit the four P's of the product or the service i.e. Product, Place, Promotion and price. It is an important aspect for you to know also as to how your organization, product and service are perceived in the market place. This helps organizations build positively. Further more, the concepts of Buyer behaviour and marketing communication also come in. The basic buyer behaviour varies from time to time. And marketing communication on the other hand varies but needs the most attention. Here we also need to mull over an imperative reality that re positioning in point of fact also means there is a calamitous need to apportion resources, which in turn means that you need to augment the quantity as well as the quality of communications. Lucid appearance of ideas and policies lend a hand in establishing the brand. Along with this tag along the incurring of extra new costs like in those of: training the employees, Renewing or merely revising a website, purchase of new sales materials, Publicity campaigning, advertising. There is an assortment of ways to re position a brand. The secret to enhanced communication is deemed as high-quality internal communication .It should be a run through to discuss with the staff of the organization and specific departments involved to make them understand why this 'Re Positioning' is taking place , what does the organization aim to achieve with this re positioning etc . Once this internal sharing of ideas is done with. The organization can now focus on external communication. (Pellow, 1) Main Body: Relationship between the three Concepts : Product Re - positioning , Communications , Buyer Behaviour The relationship between consumer buying behaviour and communications, and product repositioning is very straight and quite comprehensible. The fact that he marketing mix is a very vital attribute of a product. The four P's need to be based first, then the consumer buyer behaviour and communication needs to be settled. In regards o communication, is specific external communic

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