product repositioning

Examples of product repositioning in the following topics:

• Repositioning

  • Repositioning involves changing the identity of a product relative to competing products.
  • Repositioning involves changing the identity of a product relative to competing products.
  • Many famous companies have saved failing products by repositioning them in the market.
  • An organization can reposition a product line, a brand, or an entire company.
  • The complete dedication of stakeholders and the creation of a product that is in demand can help companies survive a repositioning strategy.

• Adjustments to Products

  • Marketers must often make product adjustments in order to keep the product competitive and continue to provide satisfaction to the buyer.
  • The VW Beetle is an example of a product that has been adjusted and repositioned over the years in response to changes in technology, costs, and customer preferences.
  • A key question the marketer must answer before modifying the product is: "What particular attributes of the product and competing products are perceived as most important by the consumer?
  • Product repositioning involves changing the market's perceptions of a product or brand so that it can compete more effectively in its present market or in other market segments.
  • A product line extension is the use of an established product's brand name for a new item in the same product category.

• Impact of the Product Life Cycle on Marketing Strategy

  • The stages through which individual products develop over time is called commonly known as the "Product Life Cycle".
  • Products typically go through four stages:
  • The product is promoted to create awareness and develop a market for the product.
  • Product features may be enhanced to differentiate the product from that of competitors.
  • By imaginatively repositioning their products, companies can change how customers mentally categorize them.

• GE Approach

  • Other considerations regarding market attractiveness include what if any opportunities there are to differentiate products and services, demand variability, segmentation, distribution structure, and technology development.
  • It is also a good way to assess how a company is doing in a specific market and if repositioning may be necessary to revive a faltering product line, brand, or organization.

• Price Competition

  • Quality in production, better service, creativity in advertising, or some other element of the marketing mix are used to attract customers who are interested in products in a particular price category.
  • If this artisan attempts to compete with mass producers on price, higher production costs will make the business unprofitable.
  • Consumer Reports and other similar publications make objective product comparisons much simpler for the consumer.
  • The key is to prove to customers that your product justifies a premium price.
  • A retailer such as K-mart, known as a discount chain, found it impossible to reposition itself as a provider of designer women's clothes .

• Product Line Breadth

  • The product mix breadth is five.
  • What products will be offered (i.e., the breadth and depth of the product line)?
  • You may also hear the product line breadth referred to as the product width, product assortment width, and merchandize breadth.
  • The product mix (sometimes called "product assortment") is made up of both product lines and individual products.
  • An individual product is a particular product within a product line.

• Organizational Requirements for Product Development and Management

  • Product development combined with product marketing make up the product management function within an organization.
  • Product management is an organizational lifecycle function within a company dealing with the planning, forecasting, or marketing of a product or products at all stages of the product lifecycle.
  • Product development – the process of bringing new products to the marketplace – combined with product marketing, make up the product management function that oversees the launch of a company's new products.
  • A product manager investigates, selects, and develops one or more tangible products for an organization.
  • However, product management also deals with intangible products, such as music, information, and services.

• Product Orientation

  • A firm employing a product orientation is chiefly concerned with the quality of its product.
  • Similar to production orientation, the product orientation of marketing focuses solely on the product a company intends to sell.
  • A firm employing a product orientation is chiefly concerned with the quality of its product.
  • A firm such as this would assume that as long as its product was of a high standard, people would buy and consume the product.
  • Consumers recognize product quality and differences in the performance of alternative products.

• Characteristics of the Product

  • The unique characteristics of a product should be used as inputs in determining the product's marketing mix.
  • The characteristics of the product are the features and elements that differentiate it from other products on the market.
  • Product characteristics help determine the marketing mix, potential target market and the pricing of a product.
  • Characteristics of a product also help to determine the price of a product.
  • The characteristics of a product determine the target market and price of a product.

• When to Modify Products

  • While the decision to modify products happens ideally at the design stage, products can be changed during any phase of the life cycle.
  • The product life cycle (PLC) encompasses the multiple phases products pass through during their 'life' in the market.
  • Stakeholders typically contribute input during product development, demanding something different from the product designer and design process.
  • Other products are never re-introduced and deleted entirely from the product roadmap.
  • While some products are completely new innovations, others are simply minor modifications to existing products.