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Final Exam Strategic Tools for Marketers –Vermillion
Take Home Exam Due via dropbox on 5/30 by 9:15pm
You MUST have questions on exam - simply fill in your answers in a different color than blue.
• How do you tie Perceptual Mapping and Conjoint Analysis together when presen...
Final Exam Strategic Tools for Marketers –Vermillion
Take Home Exam Due via dropbox on 5/30 by 9:15pm
You MUST have questions on exam - simply fill in your answers in a
different color than blue.
• How do you tie Perceptual Mapping and Conjoint Analysis together when presenting
be specific? (5 pts)
To solve a marketing problem such as when company wants to increase market share,
we use twomarketing tools perceptual mapping and conjoint analysis.
Perceptual mapping will help us identify attributes that need to be enhanced in order to reach
our desiredpositioning and conjoint analysis will calculate market share and help us
determine its market barrier.
• Define Perceptual Mapping and Conjoint Analysis. (4 pts)
Perceptual Mapping is A target minds map their perception at that point is the reality,
for its intuitiveunderstanding we use odd numbers scale, so it has a clear middle and we
follow steps, so we don’t lose too much information. To create a perceptual map, we use 4
step strategy.
Conjoint Analysis simulates market value and puts numerical value on Attribute level. There 3
assumptions:
• Products are just a bunch of attributes.
• Products differ on an attribute level. If we change level product changes as well.
• People have different preferences.
• What is the problem with conventional marketing? (4 pts)
Conventional marketing leads to head-to-head competition overtime. products start to
look very similar within the market segments. Overall companies start to compete for price
instead of producing new products. Atthe end functionality increases and price decreases
simultaneously.
, Use the chart below to answer questions 4-8
Price: $30,000 utility.45 $40,000 utility .25 $50,000 utility .45
Style: Small SUV utility .15 Midsize SUV utility .25 Large SUV utility .35
Material: Vinyl utility .11 Fabric utility .24 Leather utility .11
Brand: Chevy utility .11 Ford utility .03 Dodge utility .05
• If I was a marketing manager - what is the ideal or best TPU product for chart – be
sure to list feature leveland utility? (4 pts)
Price:
$50,000 utility .45 Style: Large SUV utility .35 Material: Fabric utility .24 Brand: C
• Tell me why I am crying if I am the Ford, Chevy or Dodge brand manager? (3 pts)
Because based on this chart these brands aren’t popular brands and their utility numbers are
very low.
Since intercept represents market intrigued barrier and, on this example, its 1, and of the
brands are lower thanthat.
• What can you tell me about price, style and material? Explain your answer! (10pts)
(Make assumptions about numerical value of style and material. Hint: the SUVs cost
consumers as follows:Small SUV $10,000, Midsize $20,000, and Large $30,000,
consumer pays following for each material – Vinyl $200, Fabric $300, and Leather $400)
I would say that they correlate with each other. Price grows by $10,000 and based on material it
grows by $100.Other than that, if we were to calculate overall feature importance
Price range: .45-.25=.2 .2/.53= 37.74%
Style range: .35-.15=.2 .2/.53= 37.74%
Material range: .24-.11=.13 .13/.53= 24.53%Sum of range = .53
We can see that price and style are equally important features for this brands which makes
them “hot buttons”and material is somewhat less important.
• What is the most important thing you can tell me about a $40,000, Large
SUV, Vinyl, Ford? (2 pts)Its TPU is .74 which makes it worst possible product.
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