Complete the simulation, Using Perceptual Maps in Marketing, located on the student website.
Write a 1,050- to 1,450-word summary in which you address the following for each of the three major phases in the simulation:
- The situation
- Your recommended solutions, including why
- Your results
Summarize the different marketing components addressed in this simulation by answering the following questions:
- What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Explain why or why not.
- What is the effect of the product life cycle on marketing? What effect did the product life cycle have on the product in the simulation?