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MKT 421 Week 4 Individual Assignment Perceptual Maps in Marketing Simulation

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Perceptual Maps in Marketing Simulation 1
Perceptual Maps in Marketing Simulation
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Perceptual Maps in Marketing Simulation 2
The perceptual maps in marketing simulation involved a company called Thorr dedicated
to the manufacturer of motorcycles. The company’s target market is the high end market
composed of customer between the ages of 35-50 years old. Some of the key strategies the
company has utilized to market its product is focusing on lifestyle and the quality of the product
to provide a superior motorcycle for its clientele. The company currently controls 40% of this
oligopoly marketplace. In an oligopoly market structure there are a limited number of
competitors (Varian, 2003). The purpose of this report is to describe the actions taken by the
student during three phases of the simulation and to discuss important marketing concepts such
as differentiation, positioning and product lifecycle.
Relationship between Differentiation and Positioning of Products or Services
The purpose of the simulation is to develop a positioning strategy for the company. The
first phase of the perceptual map simulation involves selecting the parameters related to the
motorcycle industry that aligned with the product the company is offering. The simulation taught
me that the optimum amount of parameters that should be chosen for a particular product is four.
Choosing more than four does not allow the marketer to highlight the product’s strengths in order
to create effective marketing campaigns. The nine parameters I had to choose from were:
lifestyle image, product design, cool, product uniqueness, service offering, price, engine capacity
safety, and quality engineering. Based on the company’s status as a provider to motorcycle in the
high-end of the marketplace I choose these four parameters: lifestyle image, product design and
styling, price and product uniqueness. The result of my selection was that I ended up choosing
three of the four optimum parameters for this particular product. The parameter that I should not
have selected was product uniqueness. In this case quality engineering covers the important
aspects of product uniqueness. An important parameter that I failed to choose was service
2

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Perceptual Maps in Marketing Simulation Student's Name Course Name Course No University Name Instructor's Name Date The perceptual maps in marketing simulation involved a company called Thorr dedicated to the manufacturer of motorcycles. The company's target market is the high end market composed of customer between the ages of 35-50 years old. Some of the key strategies the company has utilized to market its product is focusing on lifestyle and the quality of the product to provide a superior motorcycle for its clientele. The company currently controls 40% of this oligopoly marketplace. In an oligopoly market structure there are a limited number of competitors (Varian, 2003). The purpose of this report is to describe the actions taken by the student during three phases of the simulation and to discuss important marketing concepts such as differentiation, positioning and product lifecycle. Relationship between Differentiation and Positioning of Products or Services The purpose of the simulation is to develop a positioning strategy for the company. The first phase of the perceptual map simulation involves selecting the parameters related to the motorcycle industry that aligned with the product the company is offering. The simulation taught me that the optimum amount of parameters that should be chosen for a particular product is four. Choosing more than four does not allow the marketer to highlight the product's strengths in order to create effective marketing campaigns ...
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