One of the classic and most successful examples of how brand repositioning can change a brand’s fortune is Marlboro in the 1950s. The company used to sell cigarettes and targeted women. With studies linking lung cancer and smoking becoming prevalent, the company was on the decline owing to low sales. What they needed to do was find a new audience. While men were okay with smoking filter cigarettes, they didn’t want to use a women’s brand. Such insights paved the way for Marlboro’s iconic Marlboro Man, and the rest, as they say, is history.
Marlboro wouldn’t enjoy the legacy that it does today, if the brand was not repositioned, and stayed put with their old strategy. The repositioning strategy not only helped in saving the brand, it also helped it gain a cult following. Here, we look at some reasons brands should consider repositioning.
Reasons you need brand repositioning
Declining Sales – It’s an indication that your brand needs some figuring out to do. When you analyse the problems and search for answers, you might find out that your current positioning is no longer relevant. This is when a brand repositioning can get your brand back on track.
Target Audience Evolves – Your target audience may like your brand; but, there might come a point of time when they may no more relate to you. While primarily this might be due to changing trends, the reasons could be very diverse. You need to think which target audience will your brand appeal to most; and brand repositioning will help you achieve that.
Evolution of Products/Services – Let’s consider, you sell fruit juice, and decide to enter the cola market. In such a case, you need to position your brand in a different way; because, you are catering to a different kind of audience.
Better Value Proposition by Competition – Over time, your competitors will eventually do one better over the value your brand is offering. You need to stay updated with the times to stay relevant in an ever changing market.
You’re Outdated – An established brand draws trust from customers, mostly due to its longevity in the market. However, it does not always mean that customers perceive you as a good brand; they could think of you as outdated. For example, a brand like Frooti has kept evolving itself to stay relevant to the times.