How to find whether its time to reposition your brand?

Companies need to change their strategies with changing times. The brand repositioning strategies also need to be seen in the same light. The decision for brand repositioning is taken to create fresh

connections or to reframe the connections between the company and its target audience. Brand repositioning could often be arguable as it certainly gives an impression of contradicting one’s own

branding strategies. Still, many a time it is better to stay for a while and reposition the brand and move on rather than move on with the existing brand and meet the end. 

Time to reposition the brand:

Though it is difficult to ascertain if the company would reach heights with repositioning, but it is important to know that if the repositioning is not done at the right time, the company is sure lose the

opportunity forever. Hence one needs to study for the right time for repositioning.

1. Declining sales: Declining sales triggers that bell. The company board must sit back and analyze the dropping sales. What erred and what happened are a few questions that need to be looked into. Declining sales could be because the brand strategies no longer work. It could be because your brand needs repositioning.

2. Change of the target audience: The sooner you realize that the target audience and product combination did not match the better. It could sometimes happen that the target audience selected by us at the time of product launch could go wrong. But repositioning could target a new set of audience for the product. 

3. Change in the original products: With times, the companies also add and improve the originally launched products. Continuous research a lot to improve their products and add new features.This is done to remain fresh in the market. But then your branding strategies become outdated.

The original brand may not represent the improved product being supplied. Repositioning becomes a necessity here. 

4. Competition: With new competitors emerging in your field, the repositioning of brand would become all the more necessary. New competitors may have new technologies and strategies.The existing product may not be able to match the competition. The strategies adopted by the competitors also need to be considered while repositioning of the brand to stay in the market. 

5. Signals of being old and outdated: sticking to the same brand strategies may give signals of you being old and outdated. Though you would be considered established, still the customers would rate you as not being with the trend in the market. The customer loyalties may also change over

time. So brand repositioning sends out the message of being with the times.

6. Reduction in the selling cost: it is also seen that brand repositioning often helps in achieving targets thereby reducing the selling costs. The additional professionals hired earlier for shooting the sales may not be required with repositioning. Proper brand repositioning strategies often increase the sales. The additional selling costs can be reduced by such policies.