How do you reposition a Brand in the Market?

Question

Accepted Answer

Repositioning a brand involves analyzing market trends, identifying target audience, creating a new brand image, and implementing strategic marketing campaigns.

Conduct market research to understand current market trends and consumer preferences.
Identify the target audience and their needs to tailor the brand positioning accordingly.
Create a new brand image or message that resonates with the target audience.
Develop strategic marketing campaigns to communicate the repositioned brand effectively.
Monitor and evaluate the impact of the repositioning strategy to make necessary adjustments.
Examples: Coca-Cola repositioned Diet Coke as a lifestyle brand targeting health-conscious consumers. Apple repositioned itself from a computer company to a lifestyle brand with products like the iPhone and Apple Watch.

Asked in Natco Pharma

How do you reposition a Brand in the Market?

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