Corporate venture always follow a custom made marketing strategy in terms of market penetration. It may be in the form of product pricing or product differentiationing. But products having an early entry to a certainly unexposed market cannot use the combination of both the pricing and differentiation since the product itself has not reached the people. Thus they have to focus on creating a demand for the product by creating the need. This is where the strategy of repositioning becomes a winning move to acheive not only market penetration but a successful creation of need facilitating demand for the product.
Product like the 'Listerin, Amway, Teeth Whitners, etc' have entered the market with a strategy of luxury component combined with product differenciation, exclusive pricing in a country like India, seeing only failure for a good launch and hence failed in penetrating the market at a time where the elite class and the component of luxury and exclusivity existed only to the unknown. But some of these products opted for repositioning to cater to the known class of the market and thus came the 'Orbit teeth whitner and mouth freshners as chewing gums, the elite pizzareas to yummy common man's lunch out etc'.
But this repositioning demands a entire repackaging and re-presentation of the product in a new dimension. Thus it is very clear that a common market product can be turned into a exclusive elite market product and vice versa by implementing a simple yet a complex strategy of 'Repositioning'
Product like the 'Listerin, Amway, Teeth Whitners, etc' have entered the market with a strategy of luxury component combined with product differenciation, exclusive pricing in a country like India, seeing only failure for a good launch and hence failed in penetrating the market at a time where the elite class and the component of luxury and exclusivity existed only to the unknown. But some of these products opted for repositioning to cater to the known class of the market and thus came the 'Orbit teeth whitner and mouth freshners as chewing gums, the elite pizzareas to yummy common man's lunch out etc'.
But this repositioning demands a entire repackaging and re-presentation of the product in a new dimension. Thus it is very clear that a common market product can be turned into a exclusive elite market product and vice versa by implementing a simple yet a complex strategy of 'Repositioning'