Quality engineering is what makes the product different from the rest and appealing to the customer. If the marketing team decreases the price sales will increase because it will make it more affordable to the target market which consists of mostly year olds; hence, increasing style to meet the demands of a younger and hip clientele.
I suggested that the price should be median and appropriate for the average purchaser. The marketing team cannot have one element without the other. This scenario calls for the marketing manager to create a marketing plan that will either reposition the Cruiser Thorr or launch a new motorcycle.
Get Access Using Perceptual Maps in Marketing Simulation Summary Essay Sample THORR Motorcycles is a 5 billion dollar company that manufactures different kinds of motorcycles, in addition to their motorcycle products they use other product to promote their business such as motorcycle shoes, t-shirts, toys, leather clothing etc.
Lifestyle image provides has the most attributes to the products image.
Price was rated at 8 because the RRoth is cheaper than the Cruiser Thorr in order to target a younger consumer. Please note that you can further review the concept of competitive sets here. For place I chose to include dealers and internet sites.
I would encourage you, where appropriate, to produce multiple perceptual maps and even present more than one in your marketing assignment.
When looking at different segments a product can tend to target just one segment specifically, or it can be planned to meet the attributes of several segments to an extent.
Giveaway merchandise can help promote the product and get the word out for the updated options. A decision needs to be made whether to maintain the current position strategy and enhance it or change it all together. The simulation was an effective and educational tool.
Services offered are rated at a 7 because services for the Cruiser Thorr is limited compared to competitors but were revamped because of consumer response.
This has been done deliberately to demonstrate how the positioning of firms and brands can be constructed using different product attributes on the perceptual map.
For example, no marketing team can predict the launch of similar products. This price range was chosen because earlier surveys conducted showed that the younger consumers were more interested in lower priced motorcycles. In this paper the three phases of the simulation, the situation, recommended solution, and results were discussed.
Companies position their differentiated products in the marketplace effectively to attract the attention of likely customers. In the motorcycle business the lifestyle imaging is of high importance for the older generations that are interested in the Thorr Kotler P, n.
Training to dealers was chosen so that the dealers can provide detailed and accurate information about the products sold. Developing a Positioning Strategy. So naturally it makes sense to offer services such as maintenance, customizations, training courses, or financial services to customers.
In the simulation the Cruiser Thorr was in the decline stage of the life cycle as their sales were declining rapidly. In addition there was a discussion on relationship between differentiation and positioning of products or services and the impact of the product life cycle on marketing.
The RRoth was rated at a 7 for lifestyle image because like other Thorr motorcycles consumers are already considering it a status symbol.In this section of the website you will find many example perceptual maps.
(Many of these maps are discussed further elsewhere on this website, including the competitive sets section.) All of these perceptual maps were produced using the free software download available on this site.
“A perceptual map is a visual representation of what the customer thinks of a brand” (Using Perceptual Maps in Marketing Simulation, ). Using Perceptual Maps in Marketing Simulation Summary The situation consists of me constructing a perceptual map to create a marketing plan for Thorr Motorcycles.
The perceptual map will be based off of parameters fundamental to the. Perceptual Maps in Marketing Simulation Summary Thorr Motorcycles, Incorporated manufactures various models of motorcycles, and is a $5 billion company.
The CruiserThorr power cruiser model provides the company a high brand image in the market, but sales are decreasing. The company contributes the. View Using Perceptual Maps in Marketing Simulation Summary from ACC at University of Phoenix.
USING PERCEPTUAL MAPS IN MARKETING SIMULATION SUMMARY Using Perceptual Maps in Marketing Simulation.
Using Perceptual Maps in Marketing Simulation Words | 5 Pages. Using Perceptual Maps in Marketing Simulation Summary Thorr Motorcycles is a $5 billion company producing a wide range of motorcycles.
In addition to producing motorcycles, the company, also have licensing programs; sell T-shirts, shoes, toys for the motorcycle.Download