Marketing refers to process of a business which help in satisfying and creating relationship with customers. An organization face many problems and issues while conducting marketing procedure some of them are identifying appropriate customers and market (Jowitt and Lury, 2012). Organization taken in this report is Burberry which is a establish in 1856 by Thomas Burberry. They are dealing in fashion industry and serve their products at worldwide range. Topics mentioned in this assignment are marketing problems face by respective company related to positioning and repositioning their products.
1. Importance of positioning and repositioning for marketers and identify implications for the performance of business if such a move is successful
Positioning:- It refers to the image which a company made in the mind of customers and explain how their products are different form products of competitors. It is consider as most essential and powerful concept of marketing. In context of Burberry for positioning their product in appropriate manner they use digital technology to selling their products. They introduce new mobile application to enhance experience of application. It will allow customers to overlie digital figure or picture by a artist of Burberry on their image with help of camera lens of Apple mobile.
Importance- Position products in digital formate help Burberry in attracting more and more customer. Some other importance which respective company feel are describe below:
- It help respective company artist and staff to become market oriented, then plan strategies and plan according to need and demand of customers.
- By effective positioning of products company able to meet expectation of customers and satisfy them appropriately.
Repositioning:- It refers to the process when a company conduct major changes in positioning of brand and products (Rettie, Burchell and Riley, 2012). An organization adopt repositioning of product when they face decline in performance or major shift occur in environment or marketplace. This will occur due to wrong brand positioning, selection of poor distribution channel or adopting poor strategies for promotion. In respect of Burberry they plan to reposition themselves in luxury sector. This is done by them by focusing on pricing strategies according to trends and competitors. They also launching new range of luxury leather goods and accessories to attract customers.
Importance- Repositioning of of products in luxury market and introducing new range of product help Burberry in attracting young customer. Some other major importance are:
- It help respective company to develop strong competitive positions in marketplace.
- It also help Burberry in improving their sales and targeting appropriate audiences for their new products.
Identify implications for the performance of business if such a move is successful:-
If such moves repositioning and positioning of Burberry be succeed in their target market they able to attract more and more young customers in appropriate manner (Marina, 2014). By the help of positioning they able to attract customer who are more attracted to digital technology. It is so because they through new application customer able to connect with Burberry artist and ask suggestion from them. When respective company do repositioning of product and launch new range of leather products and move themselves in luxury sector. By this they able to attract young and rich customers.
2 . Demonstrate by means of a positioning map, how positioning of the brand will change as result of this process. In presenting map, also identify where on map following brands would be located: Gucci and Primark
Positioning map- it refers to diagram which illustrate perception of customers regarding to products and services offer by an organization (Saini and Mukul, 2012). Which is based on price, quality or products benefits and perception which a company want to establish against their competitors. Respective company use digital technology for conducting positioning of their products. Burberry done brand positioning according to perception of their customers. Some of major competitors of Burberry are Mulberry, Gucci, Primark, Monsoon Accessorize and many others. Positioning map which is develop by respective company is given below-
3. Two methods Burberry might use to achieve repositioning
According to case study Burberry want to reposition their products into luxury sector for which which they are fixing price of product according to market trends. It also aback the lower end retailer and wholesalers for developing pricing strategies. The respective company is using various methods and strategies for positioning and repositioning of products. Such as they are using Kris Wu as their celebrity face, they develop products according to demand like when sales of bag increase they introduce new range of bridle and buckle bags. After evaluation they identify that bags rang are resulted in high growth potential in very few years. Then new CEO of Burberry decide to reposition themselves in luxury sector. They also want to create new range of luxury leather goods and accessories to attract customers (Shakhshir, 2014). Other two method which respective company can use to achieve effective repositioning are:-
- First method which they can use by Burberry for repositioning and extending their business in luxury market. They can enhance quality of product so it seem worth full for the customers. That seems they are paying more money for valuable product and services.
- Respective company can use weekly scheme method to attract customers such as they can launch Friday scheme. In which Burberry offer new scheme or discount or any other attractive offer on every Friday. This scheme will be applicable to their all products of their stores.
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From above covered topic it can be contribute that identifying appropriate planning strategies help an organization in achieving their goal and objective in appropriate manner. To be successful in a marketplace a company do positioning and repositioning. An organization develop positioning map to compare it self with competitors. Their are also various method company use to do positioning and repositioning.
- Jowitt, H. and Lury, G., 2012. Is it time to reposition positioning?. Journal of Brand Management. 20(2). pp.96-103.
- Marina, K., 2014. Capturing meaning through Brand value and Green marketing.
- Rettie, R., Burchell, K. and Riley, D., 2012. Normalising green behaviours: A new approach to sustainability marketing. Journal of Marketing Management. 28(3-4). pp.420-444.
- Saini, G.K. and Mukul, K., 2012. What do social marketing programmes reveal about social marketing? Evidence from South Asia. International Journal of Nonprofit and Voluntary Sector Marketing. 17(4). pp.303-324.
- Shakhshir, G., 2014. Positioning strategies development. The Annals Of The University Of Oradea. 977. pp.416-437.