When companies change their product design, formulation, or brand image, so as to alter the products competitive position, the same is referred to as:

MARKETING MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

When companies change their product design, formulation, or brand image, so as to alter the product’s competitive position, the same is referred to as:

A	Positioning by Corporate identity
B	Positioning by product category
C	Positioning by competitor
D	Repositioning

Explanation:

Detailed explanation-1: -The term, “repositioning, ” refers to the process of changing a target market’s understanding or perception of a product or service.

Detailed explanation-2: -What is brand repositioning? Brand repositioning is how a business alters a brand’s position in the market while keeping its identity intact. Changes to the marketing strategy, such as product, price, location, or promotion, are frequently made as part of this process.

Detailed explanation-3: -Positioning and Repositioning Positioning is how you differentiate yourself in the mind of the consumer. Repositioning is how you re-adjust the way you differentiate yourself in the mind of the consumer – in the face of competition, change or crisis.

Detailed explanation-4: -Repositioning involves changing the market’s perceptions of an offering so that it can compete more effectively in its present market or in other target segments. Generally it is good to consider repositioning when you see the need or opportunity to improve demand for the offering.

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BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

MARKETING MANAGEMENT