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Using Perceptual Maps in Marketing simulation - Essay Example
Author : collinspedro
Pages 4 (1004 words)
Three scenarios will be presented in the simulation and this paper will look at the situation, the selected action plan and its rational and the end results will be explained in brief detail of all the three scenarios…
This will be followed by direct impact/results of these decisions which will be generated by the simulation itself. Following this explanation, the interdependence between differentiation and positioning a product and a service is explained. Besides this, the results of the decision of repositioning the brand of Cruiser Thor or introducing a whole new product line will also be discussed. Besides this, the overall effect of Product Life Cycle on the brand’s performance and the scenarios presented in the simulation is also discussed, which will give a comprehensive summary of selected marketing plans and its impact on the brands’ performance. 1. Scenario 1 1.1 The Situation Cruiser Thorr is the market leader in the motorcycle industry where the consumers symbolize the brand with lifestyle. Lifestyle positioning is the strongest element in the motorcycle industry and Cruiser Thorr enjoys the brand image of a premium product with all the features and deliverables which makes it the first choice of the consumers who can afford it. Situation 1 of the Simulation presents a scenario where the Cruiser is losing Sales because its ideal target market (men in the age-group of 25-50) is growing old and is no longer interested in the lifestyle image of the brand. ...