1. Over the years, many famous brands have been repositioned. Some include KFC, Friendly’s, Radio Shack and JC Penny. Using the online library or other scholarly resources, give several examples of brands that have been recently repositioned. How has this been implemented and for what reason? 2. Being up to date with current events is an important part of becoming a business professional. In marketing, it is part of an important responsibility to continuously scan the external environment for opportunities and threats. Visit the library and select a current article (no more than one or two years old) on pricing strategies for a small to medium size business. You can access the Library in the Academic Tools area of the course. Be ready to critique the article and discuss what other small to medium size businesses can learn from these strategies identified.
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Brand Repositioning and Pricing Strategies
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Brand Repositioning and Pricing Strategies
Examples of Brands that underwent Repositioning
Sometimes a product can lose market owing to changes in business environment or a combination of other factors such as presence of perceived high levels of unwanted components in product. In such instances, it requires repositioning, a deliberate strategic process of changing how product (s) is perceived by consumers. Several brands have repositioned and they include Old Spice, Burberry, Apple and McDonald’s.
According to (DeMers, 2016) Old Spice repositioned itself after being perceived as a product for older generations by using an athlete, which spurred new interest in the product. Burberry had long been seen as clothing for gangs. However, through celebrity endorsements, the company was able to create new image, making it a powerful luxury brand. Apple on the other hand faced a dwindling market share in the 90s not until Steve Jobs took over and using a series of advertisements and new product dimensions such as innovative ideas helped make the company one of the leading mobile manufacturers in the world. According to (Aquino, 2011) McDonald’s was regarded as source of American Obesity, however the company employed the documentary “Super Size Me” to change successfully the consumer perceptions.
Pricing Strategies
Pricing used books on Amazon.com: a spatial approach to price dispersion Authored by Wang and published in Journal of Spatial Economics……………………………………………………………………………………………………
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