Brand Repositioning

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Brand Repositioning refers to the modification in behavior and values of a brand to change its perception in the market.
Brand Repositioning is an opportunity to update a product or service and change customers’ understanding of them at the same time.
Brand Repositioning - Advantages
1. Brand Repositioning helps an organization to pick up the best things about the brand and change its weakest points.
2. The process encourages filling the gaps with updated elements that will work for the new product or service.
3. Brand Repositioning gives the brand a new identity and personality that is specially created to suit the consumer market.
4. Repositioning leads to revived and positive customer perception.
5. Gain competitive advantage.
Reasons for Repositioning a Brand
1. For targeting a new audience as the existing one is no longer feasible.
2. Products need an overhaul to meet the changing needs of the consumer market.
3. To meet the challenges posed by the competitors and their better value offerings head on.
4. There has been a steady decline in sales and repositioning will help to steady and boost the sales figures once again.
5. When the strategic direction of an organization is changing.
6. The brand has overextended.
Brand Repositioning - McDonald's
- McDonald’s has added lots of salads and healthy meal options in its menu along with low-price items as part of Brand Repositioning.
Brand Repositioning - Old Spice
- Old Spice repositioned its brand with a campaign featuring Isaiah Mustafa and the immediate increase in sales was 27% growth.
Brand Repositioning - Starbucks
- Starbucks launched a high-end campaign “Coffee values and values” concentrating on the integrity and quality of its coffee. The brand positioning was reflected through 16 billion dollars revenue for that year.
Brand Repositioning - Apple
- Apple launched a campaign as part of its repositioning strategy and declared an annual boost of 39% in sales that year.
This video is on Brand Repositioning and it has the following sub-topics.
Time Stamps
0:00 What is Brand Repositioning?
00:35 Brand Repositioning - Advantages
01:08 Reasons for Repositioning a Brand
01:55 Your Strategic Direction is Changing
02:07 Failed Extensions are Tainting Your Brand
02:40 Brand Repositioning - McDonald's
03:16 Brand Repositioning - Old Spice
04:15 Brand Repositioning - Starbucks
05:30 Brand Repositioning - Apple

[@Skylightatdusk]

Very good and well presented content!

[@Skylightatdusk]

Am I correct in assuming that, once created, a (new) brand positioning statement is converted to a mission statement for customers and or employees?