Using Perceptual Maps In Marketing Simulation Summary

1084 words - 5 pages

Perceptual Maps Simulation
I found this simulation to be very interesting. First of all, it was about motorcycles, and what guy doesn't find that to be an interesting topic? Regarding the lessons it contained for marketing though, it was also interesting while still being entertaining as well. The situations it presented were realistic, while not being so overcomplicated that the material it was trying to present got lost. In the following paper I will discuss the situations from the simulation, the relationship between differentiation and positioning especially with regards to the product in the simulation, and the effect of the product life cycle on marketing again focusing on its ...view middle of the document...

Finally, the services I chose to offer were club membership, customization options, financial services and services to owner groups. The sum total of the cost of this marketing strategy was $12,749,000 of my allotted $13,000,000 budget. All of my decisions were based around focusing on a younger market, hence the Hollywood film placement and celebrity endorsement while still offering a low price and financial services to a market segment with less disposable income. I generally did well with this strategy, but missed a few key points such as placing the product on the Internet, and training dealers, both of which would have enhanced the customer experience overall.
The final situation was to evaluate the success or failure of the marketing strategy I had chosen. Interpreting research data was a focal point of the exercise. Based on the answers to the research questions, I rated Lifestyle Image as high as possible, with Quality Engineering and Service Offerings only slightly below that, with Price still lagging behind due to the high price of the CruiserThorr. For the RRoth motorcycle launch, I chose to create the Perceptual Map using the axes of Cool, Price, Quality Engineering and Service Offerings, and assigned the highest marks to Price and Quality Engineering while marking Service Offerings and Cool slightly lower. I correctly interpreted the data for CruiserThorr, according to the simulation. I also did a good job with the Perceptual Map for RRoth, though the simulation suggested that I could have replaced Service Offerings with Lifestyle Image.
Differentiation vs. Positioning
To the best of my understanding, the main difference between differentiation and positioning lies in who is evaluating the marketing mix. Differentiation is how we, as marketing managers, adjust our marketing strategy to make our brand or product stand out to the customer (Perreault, Cannon, & McCarthy, 2011). Conversely, positioning refers to how the customer perceives a given brand within a market (Perreault, Cannon, & McCarthy, 2011). The repositioning that occurred within the simulation behaved pretty much as I expected it to. Introducing a brand new, and cheaper, motorcycle to the Thorr line up not only created a new product that was successful, but revitalized sales of CruiserThorr as well. ...

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