Repositioning American Public University MKTG201: Fundamentals of Marketing Frank Wood December 22, 2013
My wife has just recently started her own custom hair bow company that she has been doing for the past 5 months business has been good but it could be better. Her business name is Suarez Creations. We currently have a spot in the local flee market which is located towards the rear of the established where the general items are sold. The reason for her to pick the flea market over renting the spot in the mall is because she is targeting the type of customer who is looking for a good deal. The other reason is the difference in cost for the payment for the space, at
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What my wife has done is to switch over from mass marketing to the target marketing technique so that she can design specialized bows to meet the demands of a particular crowd. She has targeted the sports junkies who will go to the extremes and who have the buy almost anything mentality to represent their teams. She has still kept a little of the mass marketing practices by making just basic bows that contain al types of different colors and not just sports teams. What this does is expand her client base a little bit more. My wife has not only repositioned her bows to a different location but just added a new catchy phrase to her business banner that says, “ All star bows”. This technique according to Tanner and Raymond is know as a tagline, which is a catchphrase designed to sum up the essence of a product. Overall the reposition and the retargeting techniques that my wife has used has almost tripled her profit. She has gone form making about 200 dollars a day Saturday and Sunday to making anywhere from 400-600 a day and not only that she has hired one additional person during the week to help her keep up with the orders she has been reserving from school cheerleading teams. The repositioning technique has helped my wife’s small business reach new levels. Now we are looking for some one who can design her a custom web page with pay pal capabilities to keep her business growing.
Tanner, J., & Raymond, M. (2012).