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The process of altering or changing a product's or brand's position is known as Repositioning of the products.
The altering or changing a products or brands position in the market is done to alter the thinking of the customers thoughts about the features of the products and give it a more edge over the other competing products.
Repositioning can be of four types-
1. Same product and target market
2. Product repositioning
3. intangible repositioning
4. Tangible repositioning
This are very crucial steps in the marketing world to increase the sales of the product.
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The process of altering or changing a product's or brand's position is known as repositioning.
The repositioning process evaluates the established position of a product, service, or brand and focuses on how to alter the positioning and, with positioning, market perceptions in order to improve competitiveness.
To change market perceptions, repositioning may involve changes in the tangible product or in its selling price, but this is not always required. Often the new positioning and differentiation are accomplished through changes in the promotional message and approach. It is very common to see companies launch marketing campaigns focused on repositioning a product or service, but few, if any changes, made to the product or service itself.
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