Follow Up Response Business Marketing

BUSINESS MARKETING

Business Marketing: Follow-Up Response

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Brand positioning and repositioning are some of the tactics that companies have to adapt to create an image of the brand that would be unforgettable in the minds of their target market. Moreover, repositioning lets the company gain a fresh and energized look for the consumers who might be on the verge of being lured away by the competitors. Innovation plays a strong role in this regard, as product, process, or customer innovation reflects strong differentiation value (Davidson, 2013).

The benefits and reasons to buy a certain brand is inherited in its positioning so that a strong contact with the consumer could certify its popularity against the rivals. However, reposistioning could lead to instances where price changes could also be required that should be fair for the customers, portraying a conformation to standards of the market and their own cognitive idealization of fairness (Xia, Monroe & Cox, 2004).

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Addressing the changing preferences of major segments or geographic market requirements calls for brand repositioning sometimes requires innovation. The vision of the brand should remain the same as the day when it was introduced to the market, just as in the case of Gucci, which did not lose its artistic sense despite changing to its lively image for the millennials.

Gucci is one of the highlighted examples that took notice of its aging customer base as its bold and aesthetic appeal wasn’t attractive enough for the Millennials. In 2018, the brand revamped its image with a teen-friendly and modern feel for its new customers (Kim & Reed, 2021). It linked itself with its presence on Instagram after realizing that it is the most used social networking app used by the segment. A revitalized brand logo and connecting the brand’s image with contemporary music artists like Lil Pump and Kylie Jenner gave empowerment to the rising fame of the brand. Young consumers felt that the brand growth was telling by itself in its updated styles. By the end of the year 2018, 55% of its customers were people aging under 35.