#78 - Positioning and Repositioning
Back on Episodes #60, 61, and 62 we talked all about how to position a brand, understanding the importance of differentiating yourself in the market. We review the concept and talk about the best ways to go about that, but then turn our attention to the idea of repositioning. Once the market becomes saturated, the questions becomes: How do you find a new way to differentiate yourself?
The key is to change your focus, meaning what you draw the consumer's attention to.
To illustrate the point, I use Subway Sandwich Shops as an example. They are the #1 fast food restaurant in the world by market share, and they have successfully repositioned themselves twice so far. It's an incredible feat and one we can learn from. Of course, the company is struggling these days... sales have slipped in each of the past 5 years, and it begs the question: How might the successfully reposition themselves again?
I try to answer that question with an idea of my own. It's certainly not the only idea out there, and perhaps not even the best. Just a brainstorm if you will. And I hope it'll give you an idea of how you might do this for your restaurant.
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