Using Perceptual Maps in Marketing Simulation Janice JohnsonMKT/421 June 5‚ 2013 Using Perceptual Maps in Marketing Simulation While reading this paper the reader will get a summary of the three major phases from using Perceptual Maps in Marketing Simulation. The phase will be the situation‚ a recommend solution and the reason why it was chosen‚ and the results. The relationship between differentiation and positioning will be discussed and whether or not if the repositioning of the product
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Perceptual Map Presentation Car Industry Intro Popular car companies in the industry: Ford Chevrolet BMW Volkswagen Cadillac Subaru Nissan Jaguar Toyota Porsche Dodge Segmentation: Price and appearance Perceptual Map High-end Conservativ e Sports car Affordabl e Ford Motor Company Headquarters: U.S. Types of vehicles: Cars SUVs/Crossovers Trucks Commercial Hybrids/Electric Diesel Objective: Offer array of vehicles – small‚ medium
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Marketing Principles Innocent Smoothies: STP Segmentation‚ Targeting‚ Positioning Positioning According to Kotler and Keller (2006)‚ placing the product in a position where it is in demand‚ attractive and unique to the customer in relation to the products of its competitors is known as market positioning. Innocent has a reputable stance in the market‚ being known for its image of good will and helpfulness. From the company’s contributions to charity to the fun‚ lighthearted word choice of
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Ranked from most healthy to least healthy. 1a) http://jambajuice.com/ - Jamba Juice 2a) http://www.soupersalad.com/- Souper Salad 3a) http://www.lucianositalian.com/ - Lucianos Italian 4a) http://www.subway.com/subwayroot/default.aspx - Subway 5a) http://www.schlotzskys.com/ - Schlotskys Deli 6a) https://www.tgifridays.com/ - TGI Friday’s 7a) http://www.bjsrestaurants.com/ - BJ’s Restaurant 8a) http://www.rudysbbq.com/page/home - Rudy’s Barbeque 9a) http://www.wienerschnitzel.com/ - Wienerschnitzel
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Perceptual Maps in Marketing The use of perceptual maps is a strong tool in the marketing world. Perceptual maps visually represent what the consumer thinks about a product or brand. To make a perceptual map several attributes of the product are placed on different axis and from that point a grid is made to represent how strong or weak the consumers view each attribute. Making a perceptual map is a good way for mangers to decide on a good marketing strategy for the product‚ and which attributes
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Understanding Perceptual Maps What is a perceptual map? A perceptual map is of the visual technique designed to show how the average target market consumer understands the positioning of the competing products in the marketplace. In other words‚ it is a tool that attempts to map the consumer’s perceptions and understandings in a diagram. The word ‘perceptual’ comes from the word ‘perception’‚ which basically refers to the consumers’ understanding of the competing products and their associated attributes
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Innocent Smoothies Marketing Contents Page Page 2 • Introduction • Chapter 1 Perceptual Map Page 3 • 1.1 Axes of Perceptual Map • 1.2 The Marketplace Page 4 • Chapter 2 The Marketing Mix • 2.1 Product Page 5 • 2.2 Price • 2.3 Promotion • 2.4 Place • Page 6 • Chapter 3 Segmentation • 3.1 Demographic Segmentation Page 7 • 3.2 Geodemographic Segmentation Page 8 • 3.3 Product Diversification • 3.3.1 Families • 3.3.2 Young Children • Conclusion
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Perceptual Maps in Marketing Thorr Motorcycles is a company that manufactures 200‚000 motorcycles a year. It also licenses T-shirts‚ shoes‚ leather goods‚ toys‚ and other consumer items. The company currently has a high-brand image manufacturing high-end motorcycles and owns approximately forty percent of market share. The challenge for Thorr is that the industry is growing‚ but sales of its high-end product are decreasing. The reason for this loss of market share is that the target customers of
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Perceptual Maps in Marketing This paper will provide an overview of the impact on product life cycle in marketing and the impact the product life cycle has on a product based on a simulation provided by the marketing course. For a better understanding of perceptual Maps‚ this concept could be defined as graphic illustrations of data provided by rating scales (Business Dictionary‚ 200). The map on this simulation will be used as valid parameters to develop a marketing strategy. In Marketing
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Perceptual Map explanation In my Perceptual Map construction‚ I chose Fast acting/Slow release for the horizontal axis‚ and General pain relief/Specific pain relief for my vertical axis. Evaluation and placement of the various types of pain relievers is solely based on information given to the consumer by the packaging and description given. Explanations are as follows and in no particular order: Tylenol Extra Strength- I felt this placement was fairly straight forward with the information given
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