21 Feb LESSON 4: Repositioning
LESSON 4: Repositioning
For repositioning brand on a non-price attribute, patience is a virtue
When it comes to managing executives’ expectations on how long repositioning will take and market share will follow, there is no exact science; however, there are some heuristics which we hope you will find helpful.
If you are making a price claim and, in the claim, you are using price points and comparative advertising, the change in relative price competitiveness can be achieved in three to six months. If you are using a non-price cue such as a price beat guarantee, then the change can take longer – up to nine months (assuming sufficient media weight). If the claim relates to non-price drivers such as performance or reputation, the change in relative performance can take 18 months to even two years. This is dependent on how ingrained the market perceptions are. For example, if a bank wanted to be considered relatively benevolent, then a consistent message along with proof points would start breaking down the market’s cynicism after perhaps, 18 months.
These estimates assume the organisation has the discipline to display endurance, tenacity and brutal singularity, and that the singularity (one price claim, one quality claim and eliciting the target emotion) is evident in both communication and experience.
When it comes to quality perceptions, it takes at least twice as long to drive perceptual change than it does price perceptions. The more brutally singular you are in your communications, the sooner the in-market change will occur.