5 Succesful Brand Repositioning Examples
Brand repositioning examples - Repositioning is a marketing approach used by firms to modify the perception of their target audience regarding their products or services. It primarily tackles two aspects of a product or service. That is, what does a target audience think about a product's characteristics and competitors?
As a result, a company considering repositioning focuses on these two factors. Maintaining that relationship with the consumer is one of the most critical things a company should think about while reinventing itself. Here, the company attempts to change or refresh the marketing mix, brand essence, and brand identity.
What Is Brand Positioning? [With Examples]
Survival of a brand with poor placement is difficult for the simple reason that target customers are unable to identify emotions, qualities, feelings, and sentiments with a poorly positioned brand. This emphasizes the need of repositioning.
Furthermore, as the brand, the industry, and the competitors expand over time, repositioning becomes more significant since it allows the brand to occupy a new (and more profitable) place in the thoughts of the customers.
It refreshes clients' perceptions of the brand and offers it a fresh start in the market.
Domino's began to gain a terrible internet reputation for serving "crap pizza," resulting in poor sales results. In an attempt to overcome their bad image, they modified their recipe and launched a new marketing campaign centered on their "new and better" pizza. With this method, they were able to successfully modify consumers' perceptions of their brand.
Their marketing also took a pleasant and somewhat honest approach, as they effectively stated that their pizza was horrible and vowed to change it. The Domino's team recovered their brand image with new brand messaging, a renovated logo, and modifications to their delivery locations and website.
Gucci has always been a hugely profitable luxury brand. Nonetheless, its initial audience was growing older. The characteristics of the brand that made it appealing to its previously targeted demographic did not appeal to newer generations. When Marco Bizarre became CEO in 2015, he and creative director Alessandro Michele implemented a new brand repositioning approach that highlighted their Italian history and opulence while adding a contemporary touch.
Building a new focus on Instagram-style communication, a polished-up logo that was front and center on all items, and an empowering position on gender fluidity were all part of their attempts to update the brand. Within the next few years, this strategy catapulted the brand to unprecedented heights of prosperity.
Spotify was already a well-positioned brand in the market, but a catastrophe like the COVID-19 epidemic has the potential to change business structures and customer requirements across the board. The music streaming service seems to have already created the ideal brand to prosper throughout the epidemic. This is due to the fact that it is digital, distant, and provides a much-needed get away from daily life for stressed or suffering people. However, the epidemic forced many advertisers to reduce their advertising spending. As a result, Spotify's economic model, which is primarily reliant on advertising income, has deteriorated.
To effectively rebrand the brand, they expanded their focus on original material, such as podcasts and original content, and spent a significant amount of time selecting playlists from internal experts, external experts, AI, and celebrities. They employed a strategy that positioned the corporation not merely as a music provider, but also as a tastemaker and content developer.
When Howard Schultz became CEO of Starbucks, he positioned the coffee shop as a location for customers to connect on a regular basis. The brand's unique positioning approach was a huge success, launching a global corporation.
However, the fast rise of rival coffee conglomerates and coffee startups made capitalizing on the advantages of this repositioning extremely challenging. When more than 900 Starbucks locations shuttered as customers sought out more cost-effective options, the company needed to devise an effective brand repositioning plan in order to reclaim its position as an industry giant.
They launched their most intensive marketing effort in business history to restate the quality of their goods and convince consumers that their items were worth the extra expense. The campaign was named "Coffee value and values," and by 2016, the firm had been able to re-establish itself with a record $16 million in yearly revenue.
We are all familiar with their motto, "Yo Quiero Taco Bell." At initially, the tagline was funny and matched their original corporate identity. Regardless of their initial success, they opted to shift their story when they suffered declining sales and more competition from other companies. They began by altering their tagline to "Live Mas," transforming them from a low-cost Mexican food company to a fun meme-centric brand. People's impressions of the brand changed as a result of this rebranding effort.
They updated their logo, tried out new menu items, and created a voice that younger generations could relate to. They also changed its interior design. Taco Bell became a lifestyle brand as a result of this shift. Taco Bell became more approachable, hilarious, and human as a consequence of the real-time engagement.
Rebranding your company may be difficult, especially during a crisis. However, with the help of the above tips, you can confront the problems of rebranding straight on and leave a lasting impact in the business.
I hope these examples help you come up with a concept and a strategy for a successful strategy. Best of luck!
Companies may use repositioning to influence how customers perceive their brands and goods. If designed and implemented properly, the consequence is a revitalized consumer impression, allowing businesses to compete more effectively through differentiation.
In general, it is a good idea to consider repositioning when there is a need or opportunity to increase demand for the service. Perhaps sales have slowed, your target market has shrunk, or you've created a new invention that you'd like to incorporate into the product.