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Can a company successfully change its market positioning after being established for a certain amount of time?

Chandra Bevens

Hey there! This is such an interesting and thought-provoking question. Can a company successfully change its market positioning after being established for a certain amount of time? The short answer is YES! But let me tell you why.

Firstly, to understand this question, we need to define what market positioning is. Market positioning is a marketing strategy that aims to make a brand occupy a distinct position in the market. This can be achieved through various factors such as price, quality, brand personality, customer service, and so on. Sometimes companies establish themselves in a market position that they later realize isn't working for them. This can be due to various reasons like changing customer preferences, new competitors, or technological advancements. In such cases, if the company wants to stay relevant and competitive, it needs to change its market positioning.

Now, you might be wondering, isn't it difficult to change a well-established market position? Well, yes, it's challenging, but not impossible. In fact, many companies have successfully undergone rebranding and market positioning changes and come out even stronger. Let's take the example of Apple. When Apple was first established, it positioned itself as a computer company and only targeted the tech-savvy market. However, with the advent of the iPod and then the iPhone, Apple changed its market positioning to become a personal electronics company that targets the masses. Today, Apple is one of the most valuable companies in the world. So yes, changing market positioning can be a daunting task, but it can also be very rewarding.

Another example is McDonald's. When McDonald's was first established, it positioned itself as a fast-food chain that targets families. However, with the rise of health awareness, McDonald's realized that it needed to change its market positioning and offer healthier options. So, McDonald's introduced salads, wraps, and fruit smoothies to its menu and successfully changed its market position. Today, McDonald's targets health-conscious individuals as much as it does families.

In conclusion, can a company successfully change its market positioning after being established for a certain amount of time? The answer is a resounding YES! However, it requires a lot of research, strategizing, and implementation. Companies need to understand their target audience, their competition, and their unique selling proposition to successfully change their market positioning. But hey, if Apple and McDonald's can do it, so can any company! The key is to keep evolving and adapting to changing times and trends. After all, the only constant in life is change.