How to reposition your company?

parašė , 2011-12-08 22:13

In volatile markets, it can be urgent to reposition not only the product or brand, but an entire company. Companies do change their interests, markets, go into other sites of interest. When doing so, the entire company structure is introduced to changes: investors, employees, clients and regulators all need to be shifted.

This is especially true of small and medium-sized firms, many of which often lack strong brands for individual product lines. In a prolonged recession, business approaches that were effective during healthy economies often become ineffective and it becomes necessary to change a firm’s positioning. Upscale restaurants, for example, which previously flourished on expense account dinners and corporate events, may for the first time need to stress value as a sale tool.

Repositioning a company involves more than a marketing challenge. It involves making hard decisions about how a market is shifting and how a firm’s competitors will react. Often these decisions must be made without the benefit of sufficient information, simply because the definition of “volatility” is that change becomes cult or impossible to predict.

 

Adapted from wikipedia

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