Individual Assignement: Using Perceptual Maps in Marketing Simulation Summary References:
Complete the simulation, Using Perceptual Maps in Marketing, located on the student website. Write a 1,050- to 1,450-word summary in which you address the following for each of the three major phases in the simulation: *
Your recommended solutions, including why
Summarize the different marketing components addressed in this simulation by answering the following questions: What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Explain why or why not.
What is the effect of the product life cycle on marketing? What effect did the product life cycle have on the product in the simulation? *
Format your paper consistent with APA guidelines.
In this simulation, you will construct and use a perceptual map to create a marketing plan for a motorcycle brand, Cruiser Thorr.
Thorr Motorcyles enjoys a high brand image, especially in the 651 + cc heavyweight cruiser segment and controls 40% of the share in an oligopoly market. **What is Cruiser Thorr’s current market position?
(1)Formulate a positioning strategy by constructing a perceptual map and choosing its parameters. Choose parameters that are fundamental to the product and important to Thorr’s customers.
Reverse the trend of decreasing sales for the Cruiser Thorr 1500cc model ($25,800).
Using perceptual maps is a visual representation of a consumer’s perception of a brand to help the company’s positioning within its respective market. A perceptual map describes the parameters of a products attributes. These...
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