...Abstract This paper will address the situation, recommended solutions and the results associated with the three major phases in the simulation process of gallery furniture. This paper will also address the various marketing components addressed in the simulation process. This paper will also details the relationship between positioning and differentiation of the products. This paper will also discuss about the repositioning and whether it is needed in the case of gallery furniture or not. The various effects of product life cycle along with the effect of product life cycle on the product of simulation. Situation The gallery furniture earned great customers from Houston and other store locations. But it is important to note that many people are now turning towards the furniture showrooms who spend great time in interacting with customers and also offering huge discounts. Gallery furniture is in a competitive market area where there are many competitors. Another important thing is, there are certain problems in the payment processing periods for the customers purchased online. These situations should need to be overcome. The delays of the supply of furniture are also making great issues for customers. Recommended Solutions It is important to care more for the welfare of the customers and there should be no way for making the customers to shift to other showrooms. There must be certain different strategies to be developed to overcome various issues associated with Gallery...
Words: 1186 - Pages: 5
...Marketing Simulation Performance (50 points) There will be six required decision periods. Unfortunately with our class size, no extensions can be given to the due date of each simulation decision period. You will have a full week in between decision periods to complete your work. |Simulation Decision Due Dates* | |Quarter 1 |Quarter 2 |Quarter 3 |Quarter 4 |Quarter 5 |Quarter 6 | |Mon, Oct 26th, 11:45pm|Mon, Nov 2nd, 11:45pm |Mon, Nov 9th, 11:45pm |Mon, Nov 16th, 11:45pm|Mon, Nov 23rd, 11:45pm|Mon, Nov 30th, 11:45pm| *Each late decision will automatically result in a 5 point deduction from your total; this will turn into a 10-point deduction if that quarter’s decisions are more than a week late Your simulation performance will be graded based on your actual performance with respect to your cumulative balanced scorecard total (CBS) and your final quarter (Q6) total. I will add your CBS to your Q6 scores to determine your points. I will use the following scale – if you achieve this level of CBS+Q6 points, you will receive at least the following points: CBS+Q6 > 175 50/50 points CBS+Q6 > 163 48/50 points CBS+Q6 > 151 46/50 points CBS+Q6 > 139 44/50 points CBS+Q6 > 127 42/50 points CBS+Q6 > 115 40/50 points CBS+Q6 > 103 38/50 points CBS+Q6 > 91 36/50 points CBS+Q6 > 80...
Words: 767 - Pages: 4
...Perceptual Map Simulation MKT 421 Perceptual Map Simulation Introduction This paper will take a look at a perceptual map simulation of a motorcycle manufacturer which produces a motorcycle called Cruiser Thorr. A perceptual map is a visual representation of the customer’s perception of the brand, which helps in its positioning. A perceptual map can have several parameters which can overlap in their descriptions. These overlapping parameters are the superficial attributes of a product, and several of them often define a product’s fundamental parameter. (Using Perceptual Maps in Marketing, General Marketing, Retrieved from https://ecampus.phoenix.edu). This paper will look at several fundamental parameters, including lifestyle image, product design and styling, product uniqueness, and quality engineering. This paper will look at the three major phases in the simulation, Positioning Strategy, which determines differentiation based on Product, Price, Promotion, Place and Services. SWOT Analysis which looks at strengths, weaknesses, opportunities, and threats to the product brand. Finally, Market Research, which looks at Consumer preferences by age group, income group, and financing requirement. These major phases are all used to form a marketing plan. In this simulation, this writer has joined CruiserThorr as a Marketing Manager. The first step in the marketing manager’s new position is to formulate a positioning strategy by constructing...
Words: 1483 - Pages: 6
...Complete the simulation "Using Perceptual Maps in Marketing" and prepare a summary in which you address the following: Formulate a differentiation strategy for Cruiser Thorr by changing the market mix at the Price, Place, Promotion and Services levels. My Performances: Marketing Mix, Lifestyle, price, service offering and quality engineering. - Repositioning, financial options- price parameter, increasing service My Decisions: Maintaining price- Publicize through Hollywood Films- Internet (manufacturer's Web Site), Financial Service and Customization Options, A. For each of the three major phases in the simulation, describe: 1) The situation 2) Your recommended solution(s), including why 3) Your results 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? Is the repositioning of the product in the simulation as you had expected it to be? Why or why not? Simulation Paper 3 Running head: Simulation Paper 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? A. For the first major phase is to identify the parameters that are relevant to Thorr Cruiser. The first parameter is that of the extent of contemporariness of Thorr Cruiser. Thorr Cruiser is not perceived to be modern, apart from...
Words: 350 - Pages: 2
...FOODCORP REFLECTION PAPER 1. INTRODUCTION In FoodCorp simulation, held on 22 nd of November, my position was VP Marketing Services and I worked under the head of SVP Service Group. Service group consisted of 4 people including one senior vice president and three vice presidents. As VP of Marketing Services, I was responsible for marketing communications in general. I also mention about organizational structure of FoodCorp to establish a basis for my latter discussions. FoodCorp has a matrix structure and also has a number of committees like executive committee, acquisition committee, new business committee and distribution committee. In this paper, I will give brief information about our simulation process and then provide my reflections about some specific moments. 2. SIMULATION PROCESS President’s Decision about Groups: At the beginning of the simulation, our president enabled us to introduce ourselves and give information about our roles. Then each group continued with small meetings with their own groups. After group meetings, we would continue with committee meetings according to the original agenda. However, we were divided into two groups: Those who have operational roles and those who have not and our president decided each group to held meetings according to that division. In the operational group there were 9 people while non-operational group was consisting of 3 people. Service Group Meeting: I think that we held a successful and effective meeting in...
Words: 1166 - Pages: 5
...Thorr Cruisers Paper Student MKT/421 October 11, 2010 Instructor: Name Thorr Cruisers Paper In the Thorr Cruiser simulation, the sales of Thorr Cruiser have been decreasing steadily. This forced the need to redevelop the company’s marketing plan, which includes the determination of whether to introduce a new line of motorcycles. The simulation educates the student with the interpretation of the market research data using a perceptual map. “Perceptual mapping can be used to give you that additional insight into the current position of your product and its potential in the face of competition” (Outsourcing2India, 2010). The simulation uses this technique to analyze the perception of the Thorr Cruiser to ascertain the reasons for declining sales and to formulate a strategy for improvement in the positioning of Thorr Cruiser. The improvement of the positioning of Thorr Cruiser will rely on implementing changes in the company’s marketing mix. The marketing mix refers to the combination of product, place, promotion, and pricing strategies. The final marketing mix that will help reposition Thorr Cruiser. While running the simulation the marketing mix used was price, services, engineering, and financial options. Price is important to position Thorr Cruiser as a premium product. Pricing affects the perceptions of customers and so lifestyle pricing has been used. In addition, lifestyle pricing will support quality engineering so that the Thorr Cruiser that rolls out...
Words: 1440 - Pages: 6
...Perceptual Maps Simulation I found this simulation to be very interesting. First of all, it was about motorcycles, and what guy doesn't find that to be an interesting topic? Regarding the lessons it contained for marketing though, it was also interesting while still being entertaining as well. The situations it presented were realistic, while not being so overcomplicated that the material it was trying to present got lost. In the following paper I will discuss the situations from the simulation, the relationship between differentiation and positioning especially with regards to the product in the simulation, and the effect of the product life cycle on marketing again focusing on its relationship to the simulation product. Situations The first situation the simulation provided me with was a successful brand that is facing declining sales. My recommendation was to focus on Lifestyle, Quality Engineering, Coolness and Price. My results from this were good, but could have been better if instead of focusing on coolness, I'd chosen to focus on service instead. This would have allowed me to optimally position the product. The second situation was to decide on a marketing plan moving forward for Thorr motorcycles. I chose to launch a new motorcycle, the RRoth, rather that reposition CruiserThorr. I chose this because CruiserThorr is already well positioned, and to change its price or other attributes would more likely confuse customers than help to grow the brand. Furthermore...
Words: 1067 - Pages: 5
...Ethical Perspectives The Ethics Game simulations consisted of two ethical dilemmas. The first was called The Mysterious Roses and second dilemma was called Cold Feet. Each dilemma offered difficult ethical issues that needed to be addressed. Like the previous role playing simulation, the reader is in a manager type position and must make decisions that could have an effect on a lot of people. The Mysterious Roses starts by placing the reader in charge as the Marketing Director. As the Marketing Director, you receive a few emails. One email is from an employee who is worried about a co-worker who is having trouble at work. The next email is regarding anti-harassment classes followed by an email from the female who is receiving the roses. This female is stating that the roses are making her uncomfortable and she wishes that she would stop receiving them. There are a few decision making steps that are taken to ethically address these issues. As the Marketing Director it is your responsibility to identify the problem, identify who the problem effects, identify your duties to the people involved and how to solve the problem. The problem with this incident is identified as is the people involved. To solve the problem, the ethical lenses used in this part of the simulation are the Rights and Responsibility Lens and the Results Lens. When looking at the Rights and Responsibility Lens, there are a few tools that are available to assist in the decision making. The Rights and Responsibility...
Words: 836 - Pages: 4
..."Using Perceptual Maps in Marketing" Simulation The way industries, consumers, and society in general define marketing is often very different. The definition of marketing will often very by what aspect of marketing the individual has been knowledge. For example, a customer service representative is aware of the mantaince and quality of service provide after the creation of the product. On the other hand, a marketing agent is exposed to the quality of the product, promotion, sales, prices, and advertising of a product. A person that receives a survey to obtain the indivdual’s views on a product has knowledge that the organization is seeking information to find out the views of the consumer. This essay will address some of the various definitions of marketing and the importance of marketing in organizational success. Two of the definitions will come from two different sources. The third definition will come from my own viewpoint. Marketing is the evolution of a product and service. Marketing starts with the creation of a product and goes all the way through to the continued growth, production, and success of a product. First Definition of Marketing According to the Dictionary of American History (2003) marketing is the multifaceted, systematic approach to selling goods, adopted by every business and not for-profit agency and group with a message. It attempts to optimize an organization's ability to make a profit, whether monetary (profits or donations) or electoral. Some of...
Words: 2472 - Pages: 10
...Using Perceptual Maps in Marketing Simulation Summary Jody Dentiter MRK/421 April 16, 2012 Kelly Duman Using Perceptual Maps in Marketing Simulation Summary Perceptual maps in marketing help a company to know the expectations of a customer in relation to a product that company is marketing. This is true of existing and possible future products. In the simulation, the discussion reflects whether the company Cruiser Thorr will revamp the marketing on the existing motorcycle Thorr, or start a new marketing plan for the new motorcycle RRoth. Although the motorcycle Thorr was once in demand, sales are dropping mainly because of the high price and age range of motorcycle riders at this time. Cruiser Thorr Incorporated must make a decision regarding which motorcycle to concentrate marketing money. The simulation’s purpose is to let Cruiser Thorr Incorporated know which to choose. In addition, the discussion’s focus includes the situation in the simulation, recommended solutions, and the result of the simulation. Further, the paper compares the relationship between differentiation and repositioning of products, if the repositioning conclusions in the simulation were as expected, and the effect on the product life cycle had on marketing and if product life cycle had effect on the product in the simulation. As one can see choosing which product to market is as important as the product itself. The perceptual map proved informative regarding what a consumer...
Words: 1043 - Pages: 5
...MANAGEMENT PLAN PAPER Change Management Plan Paper Greg Russell University of Phoenix Introduction The focus of this paper is on the managing across simulation and the company Good Sport and the culture, structure of Good Sport will be identified and how the culture and structure translates into power and politics. Major Implications and Behaviors to Change In the Building and Sustaining Change Simulation CrysTel senior leadership were trying to increase their product sales and increase their market share and introduce new products. During the simulation the company use surveys an employee satisfaction survey, benchmarking survey and a climate survey. The individual user had to pick, two of the three surveys, these surveys were used to get a feel of how the employers in different departments felt about change and when the surveys were completed it gave management and ideal of where they needed improvement within the organization (Apollo Inc., 2004). Due to external forces CrysTel organization had to implement major changes by trying to increase their products and services due to the competition. There was much concern from senior leadership that the organization were not ready for change so CrysTel decided to analyze every department by use of the surveys and found that their were two departments; the Marketing and Sales department were the weakest and were found to be least susceptible to change. The marketing department during...
Words: 811 - Pages: 4
...demographics of its target market, the company has hired a new Marketing Manager to re-market the high-end bike to a younger market. This paper will describe the decisions made by the new marketing manager and the company’s attempt to re-invent their marketing strategies to push this bike into a demographically challenging market. The Situation An important attribute to Thorr’s Motorcycle, Inc. is Lifestyle Image. Lifestyle image creates the need for customers to purchase the line “Cruiser Thorr” because of the masculinity and freedom it represents. The perceptual map is a visual description of a customer's perception of the brand. Thorr's motorcycles were positioned as high-priced and that perception did not fit the market for younger consumers that have less money to spend then mature consumers. Thor began to see a decline in its market position due to the escalated price and the life style image presented was targeted toward the older generation. Considering the decline in sales, Thorr’s Motorcycles, Inc. had to make changes to the image it projected to the consumer in order to gain back their market share and make Cruiser Thorr profitable again. Using the simulation gave a clear plan that applied the use of a perceptual map to define an effective marketing strategy for the brand through a repositioning plan. The foremost circumstances in the simulation where a decline in the profits of the Cruiser, formation of a marketing method that...
Words: 1250 - Pages: 5
...MKT/421 May 4, 2012 Perceptual Maps Simulation Introduction While taking the simulation an individual can learn how to use the perceptual maps of marketing to their advantage in different markets. The maps are identified by way of “widely used tools in marketing that provide a visual representation of customer perceptions towards objects (products, brands or companies), and how these are positioned in the marketplace” (The Marketing Analysts, 2011) The paper discussion will explain the suggested results for the simulation in addition to individual outcome. The positioning and differentiation will also be explained and how they relate to the perceptual map simulation. While taking the simulation one could see that the product life cycle was effected during scenarios. Simulation The motorcycle company produced over 200,000 motorcycles a year and the most popular one is the Cruiser Thorr. Major problem came when the customer base started to change and the sales started to decline. The reason for the decline in sales is the demographic the motorcycle company decided to target. They decided to target the older generation and priced the Thorr too high for the younger generation. Being that the motorcycle company decided to market to the more mature demographic the company did not focus their marketing on the younger generation thus they were not even aware of the motorcycles. That decision had a great effect on the sale of the motorcycles. Only targeting the older...
Words: 1111 - Pages: 5
... MARKETING MANAGEMENT Syllabus 营销管理教学大纲 授课时间 2011年9月-2012年1月 教 师 熊 伟 学 生 Full-time MBA 2011 E-mail 发布课件 mkt_mba_full@126.com 提交作业 mkt_mba_xw@126.com Tel 10-64494372 1. Outline and Objectives Marketing Management is a core subject in the business program, and it has been designed for those students majoring in Marketing, as well as those taking this course as their formal, academic venture into this discipline. Participants in the program would be expected to recognize that marketing is a total system of business action and should be seen as the key element in the running of any business. This course could enable students to better appreciate the role of marketing in individual firms as well as in the wider community by exposing them to theories and basic concepts. Upon completion of this course, it is expected that students should: be able to identify and explain the important concepts in marketing; understand how marketing integrates with other areas of business, especially in a dynamic business environment; be able to apply these concepts in case situations, particularly in a Chinese context and, therefore, to enhance competence in the analysis of real world’s marketing; develop the ability to confidently and meaningfully analyze marketing problems; be equipped with sufficient knowledge of marketing to enhance their capacity to evaluate the role of marketing in...
Words: 2583 - Pages: 11
...[pic] John Sperling School of Business Course Design Guide MKT/421 Version 10 Marketing Copyright Copyright © 2009, 2008, 2005, 2004, 2003, 2001 by University of Phoenix. All rights reserved. University of Phoenix® is a registered trademark of Apollo Group, Inc. in the United States and/or other countries. Microsoft®, Windows®, and Windows NT® are registered trademarks of Microsoft Corporation in the United States and/or other countries. All other company and product names are trademarks or registered trademarks of their respective companies. Use of these marks is not intended to imply endorsement, sponsorship, or affiliation. Edited in accordance with University of Phoenix® editorial standards and practices. Course Syllabus |Course Prefix and Number: |MKT 421 | |Credits: |3 | |Course Title: |Basic Marketing | |Course Schedule: |March 10, 2010 – April 07, 2010 | |Course Location/Times/Newsgroup: ...
Words: 6431 - Pages: 26
