Asked by Jamie Walker on Jun 24, 2024
Verified
Changing the brand's position is called which of the following?
A) Refreshing
B) Re-launching
C) Revitalization
D) Repositioning
Repositioning
The strategy of altering the market position of a product or brand to target new demographics or change consumer perceptions.
Brand's Position
involves the unique place a brand occupies in the minds of consumers, distinguishing it from competitors in terms of attributes, benefits, or values.
- Distinguish between different strategies for changing a brand's position in the market.
Verified Answer
AO
Allie O'LoughlinJun 26, 2024
Final Answer :
D
Explanation :
Repositioning refers to the strategic process of changing the market's perception of a brand or product. This involves altering various elements such as the marketing mix, communication strategies, and sometimes the product itself to better meet the needs of the target market or to reach a new market segment.
Learning Objectives
- Distinguish between different strategies for changing a brand's position in the market.
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