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arketers typically do their research to determine what will best appeal to consumers. Many brands are created with the results of this research in mind. Over the years, many famous brands have been repositioned to reflect changes in customer preferences. Topic: Product Brands Using the Library for your research, provide several examples of brands that have recently repositioned themselves. Then explain how they accomplished this task and discuss the following: Do you think the brands accomplished a successful repositioning strategy? Why or why not? Chapter 10: “Product Concepts” Chapter 11: “Developing and Managing Products” Chapter 12: “Services and Nonprofit Organization Marketing” https://www(dot)cengage(dot)com/dashboard/home ASK SUPPORT What are the 4 P’s of marketing? The 4 P’s are a means of remembering the four categories that are critical for marketers to determine in order to effectively market a product or service to customers. The 4 P’s in the marketing mix are product, place, promotion, and price. Product includes the product or service attributes, such as color and size, as well as packaging and the benefits and value provided to the customer. Place refers to distribution, which is all about making sure the product arrives in the right place or location. To remember this, think of place in terms of the product. How are you going to get the product to the right place? Promotion involves advertising, public relations (through social media especially), sales promotion (such as sweepstakes and contests), and personal selling (using sales representatives, retail counter service personnel, for instance). Price: What will the buyer be relinquishing in order to obtain your product? The latter is the price, which can be the easiest of the 4 P’s to change in response to competition or economic changes in the marketplace.