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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?