A company well-known for its easy-to-cook breakfast cereals was facing stiff competition from the many players in the market. The company changed its campaign to focus on dietary needs rather than just convenience, thus targeting a segment of consumers looking for healthy diet.

Question

Heath Olsen

Business

30 June, 15:08

A company well-known for its easy-to-cook breakfast cereals was facing stiff competition from the many players in the market. The company changed its campaign to focus on dietary needs rather than just convenience, thus targeting a segment of consumers looking for healthy diet.

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Answers (1)

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Mcgee · Answer 1

a. repositioned product

Explanation:

A company well-known for its easy-to-cook breakfast cereals was facing stiff competition from the many players in the market. The company changed its campaign to focus on dietary needs rather than just convenience, thus targeting a segment of consumers looking for healthy diet. This is an example of a repositioned product

Product Repositioning refers to a major change in target market's understanding of the product or the brand.

Repositioning a product, means the firm has to change customers view of the product to reflect new benefits.

Usually businesses reposition a product due to declining performance as a result of stiff competition or due to major shifts in the environment.