What two attributes were selected to analyze

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Reference no: EM133203998

Assignment: Positioning Strategy

KAMRON:

Good day class above is my perception map comparing Toyota, Honda, Hyundai, and Nissan for reliability and brand recognition.

1. What two attributes were selected to analyze?

a. Brand Recognition and Reliability

2. Where does your product fall in relation to competitors?

a. Toyota leads against its competitors in both categories

3. What is the potential impact of a perceptual map on the company's marketing strategy?

a. Highlight their reliability, can justify higher pricing versus competitors.

4. How might marketers use a perceptual map to identify the correct market segment to target?

a. Reliability is likely more of a concern for families and prudent individuals versus the younger single segment who are more drawn to technology features and wow factor. They could focus their advertising to shows, or media that engages family or investment related content.

MICHAEL:

I am comparing McKesson pharmaceuticals with some of its top competitors: AmerisourceBergen, Henry Schein, and Cardinal Health. The two attributes I chose is the number of distribution centers and number of pharmaceutical services that the companies provide. Compared to its competitors, in this situation McKesson seems to be separated from the rest in a good way. McKesson has more distribution centers which highlights its ability to rapidly ship products around the US. They also offer more pharmaceutical services that can help pharmacies or medical facilities manage their operations. The three competitors are lumped together with around the same number of services and distribution centers. I found it interesting that if I changed certain attributes, these companies could all be in their own markets or all lumped together in the same. Since I am focusing on pharmaceuticals, McKesson is outperforming the rest and proves to have a competitive advantage.

According to NSCC (n.d.), perceptual maps can identify gaps in the market and companies can use this information to find a niche. With that being said, marketers can use the map to identify who to target and the potential impact is that the company may find a market segment to market in. For example, McKesson may be able to market to new upcoming retail pharmacy companies, hospitals, or retail franchises as a "one stop shop" because of all of the systems and services they provide for pharmaceutical operations. They can provide the equipment, software, label printing, business consulting, purchase management, and be the primary pharmaceutical provider. There is no need to go with another company; it's all at one place for a lower cost, easy transactions, and support. New pharmacies will not only benefit from all of that because McKesson also has repackaging services and 97 distribution centers! So, this will cut the cost on inventory shipments and give the potential clients an edge against their competition. None of McKesson's competitors can provide the same services to this market.

Reference no: EM133203998

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