Perceptual mapping (CO2, CO4)

This week you learned about perceptual mapping. For this assignment, apply perceptual mapping to your product/service. You can use one of these Mapping Techniques: similarity scaling, factor analysis, or discriminant analysis.

This involves defining your market, deciding what the main benefit is, selecting the price, and design/market positions. You can look at this by answering the following questions:

1. What are the primary benefits your product offers?
2. How might you determine if you are priced right?
3. If you do not know what your customers are willing to pay for, how will they know?

You may turn this in on a word document, power point, or by other means. Include a supporting narrative that responds to each of the three above questions, which should explain your perceptual map.

• Include a minimum of one scholarly source
• Perceptual map
• Written supporting paper of 2 pages
• Format according to APA guidelines

My Product: My idea is an at home dog training course and kit. The kit will be designed to be put together by the customer. The kit includes a ramp, cones, tunnel, treat bag, shock collar and a command platform. A study-guide booklet will also be included teaching the customer step by step instructions on how to train your dog. Also available is an APP you can download on your smart phone allowing the customer 24 hour access to a professional trainer. It will also have a tracker to see your dogs progress marking goals and timelines along the way. The APP will include the first week free, then the customer will have the option to purchase the subscription on a monthly basis.

Cost of materials: APP/ study materials: $1000 one time developmentcost. Material for the Course/ Kit: $75 per kit/ customer. Total initial costof materials $10,000 with goal of 120 customers in the first 6 months.With a breakdown of $83 per customer.

Cost of the product itself: $250

Profit of $167 per customer