Using Perceptual Maps in Marketing Simulation Summary

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Using Perceptual Maps in Marketing Simulation Summary
Nikitta Echols
MKT/421
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 that are fundamental to my product and important to my customers which include: * Lifestyle Image

* Quality Engineering
* Product Design and Styling
* Cool
* Product Uniqueness
* Service Offerings
* Price
* Engine Capacity
* Safety.
I chose:
* Lifestyle Image
* Quality Engineering
* Price
* Product Uniqueness as my recommended solutions because price is usually a deciding factor for customers. Motorcycle companies thrive off the concept Lifestyle
Image. Quality Engineering correlates to the importance of a highly qualified and well-engineered product. Product Uniqueness establishes product differentiation that is needed when competing against other businesses.

However, I should have chosen:
* Price
* Service Offerings
* Lifestyle Image
* Quality Engineering. Therefore I received a 75% rating based on the results pertaining to this portion of the simulation.
I was assigned to decide whether I should maintain my current positioning strategy and enhance it, or changing the position completely. I recommended maintaining my current positioning strategy and enhancing it. My results were satisfactory according to this portion of the simulation. My marketing plan was implemented for over a year, and it is time to ascertain whether or not it has been successful. My results were not favorable for the duration of this portion of the simulation (University of Phoenix., 2004).”

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.

Second, summarizing the different marketing components addressed in the UPMMS does not serve as a minor role. According to Free Online Research Papers, “In regard to the
relationship between...
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