June 13, 2011
Instructor Chrisann Merriman
Using Perceptual Maps in Marketing Simulation Summary
The Business world is constantly thinking of innovative ideas to accomplish the goal of having an ample amount of information for current and future marketers. Subsequently marketing students were specifically instructed to complete the simulation, Using Perceptual Maps in Marketing, located on University of Phoenix’s student website. I prepare to address the three major phases: the situation; my recommended regarding why I recommended those solutions; and my results and describe them. I summarize the different marketing components addressed in the 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. I also summarize the different marketing components addressed in the simulation by answering the following questions: * 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? Using the information obtained from the Using Perceptual Maps in Marketing Simulation (UPMMS) results in a thriving business.
Address and describe the three major phases: The situation; Your recommended solutions, including why; and Your results
First, obviously addressing the major phase the situation related to the UPMMS is a major ordeal. “CruiserThorr hired me, Nikitta Echols, as the new Marketing Manager. I teamed up with the Chief Executive Officer (CEO) Benjamin Bao and my colleagues Chief Engineer Chris Winter and Market Research Manager Meredith Killgore to formulate my positioning strategy used by constructing a perceptual map. In the meantime I was assigned to choose four different parameters out of a possible nine...