Discussion:
Resources: Using Perceptual Maps in Marketing simulation
Complete the simulation, Using Perceptual Maps in Marketing, located on the student website.
Create 1,050-1,450-word summary in which you address the following:
a. For each of the three major phases (1. Perceptual map, 2. Revving up the Market/introduce a new product or reposition the existing product, and 3. Thundering Success/the market research results after a year) in the simulation:
i.Describe the situation for each phase
ii. Discuss your recommended solution(s), including why for each phase
iii. Discuss your results, and, if applicable, what the simulation recommended for each phase.
Therefore, a discussion of each of the three phases will cover these three points. Discuss these three elements together within each phase. Do not discuss the phases under each element. I.e., phase 1 (i, ii, and iii), phase 2 (i, ii, and iii), and phase 3 (i, ii, and iii).
b. Summarize the different marketing components addressed in this simulation by answering the following questions:
1) What is the relationship between differentiation and positioning of products or services as it relates to Thorr Motorcycles? Is the repositioning of the product in the simulation as you had expected it be? Why or why not?
2) What is the impact of the product life cycle on marketing? What impact did the product life-cycle have on the product in the simulation?
Response these questions as they relate to Thorr Motorcycles.
Format your paper consistent with APA guidelines. Citethe University website for the case study for this simulation