MKT-450 Lecture Notes - Lecture 13: Leading Edge

• School: University of Tampa
• Department: Marketing
• Course: MKT-450
• Professor: Gary Beemer

Document Summary

The capstone courier and the industry conditions report contain all the information you need to complete the activities. The perceptual map is a visual representation of the five different customer segments based on how specialized these customers want their product to be. Just like in real life, over time all customers" expectations move toward better products, which in the simulation means smaller and higher performance. The research & development department can use the perceptual map exercise to plan revision and invention projects that meet customers shifting size and performance expectations. The marketing department can use the results during forecasting as they compare competing products and when determining prices (in general, better positioned products can command higher prices). The ideal spot represents the position with the highest point of demand for each consumer base or segment. The ideal spot is made up by the product"s performance (speed) and size.