When the car did not do well in the premium segment, Revolve changed its target segment.It lowered the price and aimed the product at the middle-income bracket.This is called:
A)brand repositioning.
B)undifferentiated positioning.
C)perceptual mapping.
D)mass marketing.
E)micro customization.

Question

Quizplus · Accepted Answer

This scenario describes brand repositioning, which is a strategy used when a company wants to change the target market for their product. In this case, Revolve changed its target market by lowering the price and aiming the product at the middle-income bracket. This change in target market requires a change in brand positioning to successfully communicate the product's value to the new target audience.

When the Car Did Not Do Well in the Premium