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Product Repositioning

Please write to me for information regarding this slide at chenon_aneesh@yahoo.co.in

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Product Repositioning

  1. 1. Repositioning of Product By: Aneesh Kumar C 12/9/2008 1
  2. 2. Need for Repositioning Brand • Changing customer needs • Growing Market competition • Meet customer requirements • Loss in companies sales • Stagnant product benefits • Emerging new technologies 12/9/2008 2
  3. 3. • You have done the hard work for developing your product and now its time to act smartly…. 12/9/2008 3
  4. 4. Four phased brand repositioning • Phase I—Determining the Current Status of the Brand • Phase II—What Does the Brand Stand for Today? • Phase III—Developing the Brand Positioning Platforms: Where Can We Take It Tomorrow to Grow the Brand? • Phase IV—Refining The Brand Positioning and Management Presentation 12/9/2008 4
  5. 5. Adding few more to the leafs • Functional base- Solving customer problems, Providing benefits to customer • Symbolic base- Self image enhancement, Ego identification, Belongingness and social meaningfulness. • Experiential- Provide sensory simulation, Provide cognitive simulation. 12/9/2008 5
  6. 6. Steps involved in repositioning • Re-evaluating competing products • Identifying the attributes, “Product Space” • Collecting information from customer and feedbacks. • Determine the share of mind of the product. • Determining current location of product in “Product Space” • Determine the target market’s • Examine the position of the competing product, position of your product and the ideal vector. • Select the optimum position. 12/9/2008 6
  7. 7. “Product Spacing” What? • It’s a geometric representation of customer/ consumer beliefs about current brands in a given product category. • Product spacing is part of “market space”. 12/9/2008 7
  8. 8. Product spacing D Comfort C A B Price • A, B ,C and D are various products/ brands in the market. 12/9/2008 8
  9. 9. Customer/ Consumer Spacing I Comfort Price • I indicates various Customer/ consumer preferences in the market for particular product 12/9/2008 9
  10. 10. Market spacing X I D Comfort C A B Price • Market spacing is the superposition of the two geometric spaces (i.e.-Product and customer/ consumer spacing) • X stands for our new brand/ product in the market • We have to meet I requirements and get as close as possible. 12/9/2008 10
  11. 11. Evaluation of customer feedback after repositioning the brand Acceptability 10-point numerical Thermometer 10- Excellent 100 Extremely acceptable (7) 9 90 Excellent Quite acceptable (6) 8 80 likely very well Slightly acceptable (5) 7 70 quite like well Neither one nor the other (4) 6 60 likely fairly well Slightly acceptable (3) 5 50 Indifferent Quite unacceptable (2) 4 40 not like very well Extremely unacceptable (1) 3 30 Not 'so' good 2 20 Not like at all 1 poor 10 terrible 0 12/9/2008 11
  12. 12. Customer Feed back-Improving the brand • Capitalize on the customer feedback • Findings ways to fill the voids • Match customer requirements. 12/9/2008 12
  13. 13. Standing out in crowd…….. 12/9/2008 13
  14. 14. Thank you…… 12/9/2008 14

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