NEED OF THE STUDY

Sometimes businesses update their brands or products to remain

relevant and reach new audiences. Repositioning is the marketing
term that refers to making significant changes to a brand or product
so that the way customers perceive the brand or product also
changes. Understanding the concept of repositioning is useful if
you work in marketing or would like to develop your career in this
field. In this article, we explore repositioning in more detail.
Needing to compete with other brands. Competition from other
brands is one of the most common reasons for repositioning a
brand or product. As competitors release new products, they may
release something that rivals the existing product or brand and
might reduce its market share.
Reasons for brand repositioning
There are various reasons why a company might want to reposition
its brand. Repositioning involves a significant commitment, but
when it's effective it can revitalize a brand and customers'
perceptions of it. Before committing to this strategy it's important to
think carefully about whether this is a good strategy for the brand's
circumstances and what the alternative solutions are.

Some common reasons for repositioning are:

Wanting to target a different audience Repositioning can help if the
business is trying to target a different audience. This might happen
if the existing audience is changing or buying less of the product
than they did before. Companies might also aim to widen their
appeal by targeting new audiences whilst still retaining existing
ones. This change can help a company to target an audience that
was previously more challenging to access by making themselves
more appealing to that audience.