Define brand positioning.

Brand positioning refers tothe unique value that a brand presents to its customer. It is a marketing strategy brands create to establish their brand identity while conveying their value proposition, which is the reason why a customer would prefer their brand over others (Amazon, 2023).

Explain the reason for positioning and repositioning products.

1. Positioning (Initial):

Differentiation: Setting a product apart from competitors and emphasizing its distinct features or advantages.

Targeting: Aligning the product with a particular customer group's needs and preferences.

Competitive Advantage: Achieving a competitive edge by occupying a distinct and dependable market position.

2. Repositioning (Subsequent):

Changing Market Dynamics: When market conditions shift, or consumer preferences evolve, a product may need to adapt its positioning to stay relevant.

Re-branding: Refreshing a brand's image, particularly in adverse publicity or declining market share.

Expanding Audience: When a product aims to broaden its appeal to new customer segments.

Correcting Misperceptions: Addressing any misconceptions or negative associations that may have developed over time.

Choose a product with which you are familiar, preferably one in your industry, and explain how it might be re-positioned.

Apple iPhone can be more a part of the luxury market so that it will have the capability to be a long-lasting brand. The main point of luxury brands is about reaching the customers' satisfaction which is involved with their expected value. Therefore, if Apple can reposition itself to become involved in this market, it willbe able to generate more sales and create value to achieve as the Iphone is seen more as a status symbol and less a technology status such as a Android product (Skriboonruang, 2019).

Indicate its current position in the market, a desired position, and how you would manage the repositioning effort.

Current market position - According to the latest data on smartphone market shares in the US, as of September 2023, Apple has the biggest piece of the pie, with56.41%. In other words, more than half of all smartphones sold there are manufactured by Apple (Oberlo, 2023).

Repositioning Strategy:

1. Market Analysis: Perform thorough demand research to comprehend evolving consumer needs and preferences related to IPhones. Make the IPhone have more freedom of customization.

2. Product Enhancements: Update the phones capabilities and change the design to incorporate features that are more personalized recommendations by consumers to align with the new positioning.

3. Messaging and Branding: Revamp brand messaging and marketing materials to highlight the IPhones changes to enhance users' daily lives by making them more convenient, personalized, and enjoyable.

4. Target Audience: Shift marketing efforts toward a broader audience and showcase product as luxury to the consumer audience, emphasizing the Phones role as a personal technological companion that is also seen as a status symbol.

5. Partnerships: Collaborate with lifestyle brands or influences to reinforce the new image and showcase the IPhones adaptability to various aspects of daily life.

6. User Education: Develop guides and tutorials to assist users in making the most of theIPhones new features and capabilities.

7. Feedback Loop: Continuously collect user feedback and make ongoing improvements to align with evolving consumer expectations.

References

Amazon, (2023). What is brand positioning and why is it important. https://advertising.amazon.com/library/guides/brand-positioning#:~:text=Brand%20positioning%20refers%20to%20the,prefer%20their%20brand%20over%20others.

Oberlo. (2023). US Smartphone Market Share. https://www.statista.com/statistics/216459/global-market-share-of-apple-iphone/

Sriboonruang, P. (2019). Does Apple use co-branding for brand repositioning to sustain the brand. https://www.linkedin.com/pulse/apple-uses-co-branding-brand-repositioning-sustain-sriboonruang

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