Brand Repositioning and Taglines Marketing Assignment (Essay Sample)

Brand Repositioning and Taglines
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Brand Repositioning and Taglines
Business organizations operate with the objective of selling products to maximize profitability. A considerable decline in sales will lead to a concomitant decrease in profits. Therefore, any firm must ensure that products are sold throughout the year. When the drop in sales is inevitable, most organizations are forced to implement significant changes in the market mix to fix the situation. Brand repositioning refers to a strategy which allows companies to change the position of their brands in the marketplace. Brand repositioning may affect the whole market mix to improve the performance of a particular brand. This paper seeks to study how brand repositioning and taglines may change the perception of the Volvo Group and its products by potential customers.
The Volvo Group should consider repositioning its brand to make it compete fairly with other motor vehicle companies around the world. Brand repositioning would help the company positively impact the perception of consumers in different parts of the world and increase its sales. In short, repositioning the brand will make more people purchase Volvo vehicles. At the moment, the luxury cars manufacturer is struggling to compete with other companies like Toyota, BMW, Ford, Audi, and Mercedes Benz among others. According to Yin and Merrilees (2007), brand repositioning ensures that customers’ perceptions are changed completely. It is also important to note that the strategy would enable the company to acquire new potential customers.
Brand repositioning involves different strategies. The Volvo Group has been manufacturing, marketing, and selling cars worldwide since 1927 (Svensson, Wood, & Callaghan, 2006). Therefore, the brand is known in every continent. Brand repositioning will only serve the purpose of changing the opinions of potential customers about the brand. Consumer engagement, corporate social responsibility and developing new identity of the company would help the company succeed in brand repositioning.
First, consumer engagement would be the most important step since the main idea is to reposition the brand in the mind of the customers. Most consumers would want to associate themselves with a well-known brand. Additionally, customers would only continue to consume products that satisfy all their needs. Consumer engagement will allow to design and customize the Volvo cars to meet the consumers’ expectations. According to Svensson, Wood, & Callaghan (2006), Volvo has been experiencing problems with marketing its brand in Australia. Through customer engagement the company would be able to understand why the brand is not performing well in the region. Giving the customers an opportunity to purchase affordable customized vehicles would promote the brand in every part of the world.
Second, corporate social responsibility is one of the most effective business strategies that have been used by multinational corporations for marketing. Social responsibility refers to companies’ obligation to serve the society. Volvo may employ the approach to win the trust of customers in other countries besides Sweden. The spirit of giving will help reposition the brand in the mind of the customers (Yakimova & Beverland, 2005).
Finally, changing the identity of the firm and the brand will make it possible to shift the consumers’ perspective regarding the Volvo luxury cars. The logo, taglines, and employees are some of the elements that give companies like t...