Brand Repositioning Strategy

What is a Brand Repositioning Strategy?

Brand repositioning refers to the process of changing the associations that people have with a brand.

More than a superficial change like a logo redesign, a brand repositioning strategy represents a radical change in a company’s marketing and identity. Rarely do companies reposition themselves without great need.

Why Is It Important to Have a Good Brand Repositioning Strategy?

Companies may undertake a repositioning strategy to revitalize a struggling company or as part of a localization strategy. In most cases, however, companies reposition themselves due to major changes in the market, like mergers, failed product launches, or a new demographic coming of age.

What Internal Data Should I Have for a Good Brand Repositioning Strategy?

Most crucial for a brand repositioning strategy, companies must be clear about their reasons for the repositioning. For example, a company selling their manufacturing line to move into a data science-based service needs a different approach from a company whose new product launch was interrupted by Covid-19.

Additionally, companies should account for their customers, both existing and lost. By identifying what kept customers loyal, companies can pivot to a new direction successfully.

What External Data Is Essential for a Good Brand Repositioning Strategy?

In order to appeal to a new market, companies must have market research, competitor analysis, and demographic data. They can also use natural language processing programs to analyze public opinion on brands and industries. These programs work quickly and with increasing accuracy so companies can conclude this phase of data analysis quickly.

What External Data May Prove Useful for a Good Repositioning Strategy?

Focus groups can help ensure that a company successfully enters a new market or presents a new face to the same market.

Psychology data may also help here: knowing how to appeal to certain demographics, down to the font on a new logo, can genuinely help struggling companies that can’t afford to fail.

What Are the Main Challenges of this Use Case?

Companies needing to reposition their brand must juggle several tasks, each one very difficult. At the least, they must try to keep established customers while changing their identity and attracting new customers. They may also need to quickly overcome negative associations currently dogging the brand; they may also need to go through extensive internal restructuring.

And they must do all this knowing the price of failure is incredibly steep.

Interesting Case Studies and Blogs to Look Into

Kellogg Insight: The Dos and Don’ts of Repositioning Your Brand
Healthy Marketing Team: Brand Repositioning Case Study: Creating a Platform for International Growth

Tangible Examples of Impact

Luxury goods firm LVMH has begun sounding out potential buyers for shirtmaker Thomas Pink, with demand for office and formal wear plummeting during the COVID-19 crisis. The sale is reported not include any stock, essentially amounting to a purchase of the brand. […] However, in its accounts to the year ending December 31 2019, the company reported that sales performance came in below its 2018 levels as the brand’s repositioning saw a loss of some of its existing client base, with the gaining of new clients being slower than expected.

Business Sale Report: Buyer sought for shirtmaker Thomas Pink

Why Is It Important to Have a Good Brand Repositioning Strategy?

Companies may undertake a repositioning strategy to revitalize a struggling company or as part of a localization strategy. In most cases, however, companies reposition themselves due to major changes in the market, like mergers, failed product launches, or a new demographic coming of age.

What Internal Data Should I Have for a Good Brand Repositioning Strategy?

Most crucial for a brand repositioning strategy, companies must be clear about their reasons for the repositioning. For example, a company selling their manufacturing line to move into a data science-based service needs a different approach from a company whose new product launch was interrupted by Covid-19.

Additionally, companies should account for their customers, both existing and lost. By identifying what kept customers loyal, companies can pivot to a new direction successfully.

What External Data Is Essential for a Good Brand Repositioning Strategy?

In order to appeal to a new market, companies must have market research, competitor analysis, and demographic data. They can also use natural language processing programs to analyze public opinion on brands and industries. These programs work quickly and with increasing accuracy so companies can conclude this phase of data analysis quickly.

What External Data May Prove Useful for a Good Repositioning Strategy?

Focus groups can help ensure that a company successfully enters a new market or presents a new face to the same market.

Psychology data may also help here: knowing how to appeal to certain demographics, down to the font on a new logo, can genuinely help struggling companies that can’t afford to fail.

What Are the Main Challenges of this Use Case?

Companies needing to reposition their brand must juggle several tasks, each one very difficult. At the least, they must try to keep established customers while changing their identity and attracting new customers. They may also need to quickly overcome negative associations currently dogging the brand; they may also need to go through extensive internal restructuring.

And they must do all this knowing the price of failure is incredibly steep.

Interesting Case Studies and Blogs to Look Into

Kellogg Insight: The Dos and Don’ts of Repositioning Your Brand
Healthy Marketing Team: Brand Repositioning Case Study: Creating a Platform for International Growth

Tangible Examples of Impact

Luxury goods firm LVMH has begun sounding out potential buyers for shirtmaker Thomas Pink, with demand for office and formal wear plummeting during the COVID-19 crisis. The sale is reported not include any stock, essentially amounting to a purchase of the brand. […] However, in its accounts to the year ending December 31 2019, the company reported that sales performance came in below its 2018 levels as the brand’s repositioning saw a loss of some of its existing client base, with the gaining of new clients being slower than expected.

Business Sale Report: Buyer sought for shirtmaker Thomas Pink