Before positioning companies has to do segmentation and targeting. Segmentation is dividing the market into segments upon some set of criteria and evaluating the profitability of each segment Targeting is selecting one or more segments and going after them
Positioning is how do you want your brand to be considered by consumers when compared to other competing brands. Positioning is based on product features such as color, price, fluffiness, quality of service, innovative approach, etc.
Re-positioning is when you want your brand to be considered/associated with different features. For example, KIA cars has repositioned themselves from being some brand into being a cool brand .. Cadillac has repositioned themselves from being classical car for the rich and old into more affordable elegant car ... Oldsmobile has tried to reposition themselves as "not your father's car" but it was unsuccessful repositioning.
Re-positioning is quite lot more difficult and expensive compared to initial positioning. You know the saying 'only one chance to make first impression' also applies to the world of branding.
Repositioning Strengthens Lifebuoy’s 107-Year Heritage
Lifebuoy is no longer a carbolic soap with cresylic perfume. It is now a milled toilet soap with a new health fragrance. The new formulation has an ingredient, Active-B, which offers protection against germs, which can cause stomach infection, eye infection and infections in cuts and bruises. The new health perfume has been selected after one of the most extensive perfume hunts in the industry. The new milled formulation offers a significantly superior bathing experience and skin feel. The new formulation, new health perfume and superior skin feel, along with the popular red colour, have registered conclusive and clear preference among existing and new users. Lifebuoy is already used by about 600 million consumers, with about 2 million tablets sold every day....