Marketing Question “Using Perceptual Maps in Marketing” Simulation Summary Complete the simulation “Using Perceptual Maps in Marketing” (see

Marketing Question“Using Perceptual Maps in Marketing” Simulation SummaryComplete the simulation “Using Perceptual Maps in Marketing” (see attached)and prepare a 1,400-1,750-word paper reporting your findings, and supporting those findings with outside research.For each of the three areas of the simulation, describe:-The situation in each of the three areas (what was happening, what choices you made, what was the outcome of those choices)-Your recommended solution(s), in each of the three areas, including why you chose each solution-Your results, and your commentary about those results in each of the three areasSummarize the key marketing concepts (product differentiation, positioning, lifecycle)addressed in this simulation:-What is the difference between product differentiation and positioning? What in thesimulation described product differentiation vs. product positioning? In your repositioning efforts, were the results as you expected? Why/why not?-What is the impact of the product life cycle on marketing products from the company Thorr?-What impact did product life-cycle issues have on your product decisions in thesimulation?

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