Marketing Mix
“Using Perceptual Maps in Marketing” was a marketing simulation. According to the simulation, companies must differentiate their marketing from that of competitors and position themselves distinctly. Positioning and differentiation are the most critical components of a marketing strategy. Using a visual representation of the customers’ perception of the brand helps in this positioning. The purpose of the simulation was to construct and use a perceptual map to create a marketing plan for Thorr Motorcycles, Inc. The simulation contained three major phases in this process, which will be discussed in detail throughout the remainder of this paper, along with a brief discussion on the product life cycle and its affect on marketing.
Thorr Motorcycles needed a new marketing plan for one of its products that had declining sales. Before a new plan could be implemented, the company’s position in the market had to be determined. Positioning is the location of a brand or product in the......
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Approximate Pages: 4 (250 words per double-spaced page)
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