The perceptual map will be based off of parameters fundamental to the product and significant to the customer. I am the marketing manager for CruiserThorr. We are trying to use the parameters to market a new and innovative motorcycle to meet the needs of the target market. The parameters I have to choose from are lifestyle image, product design and styling, coolness, product uniqueness, service offerings, price, engine capacity, safety, and quality engineering.
Get Full Essay Get access to this section to get all help you need with your essay and educational issues. 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.
They sell roughly aroundunits per year and they are growing more and more every day because of their high brand image in the market. THORR Motorcycles provide services such as rider training, motorcycle rentals, dealer training and dealer software packages.
The simulation of THORR Motorcycles focuses on three main objectives choose the proper parameters and construct a perceptual map, create a marketing plan with a budget and determine the parameter values for the future of the company.
The situation The situations in the simulation was there is a decrease in the sales of one of their once very popular motorcycle the CruiserTHORR. A decision needs to be made whether to maintain the current position strategy and enhance it or change it all together.
Another option is to create a new vehicle to target younger customers. With this idea features and pricing needs to be decided. Recommended Solutions The solutions that are recommended are reformulating areas of safety, product uniqueness, price, and quality engineering.
Quality Engineering was chosen because it involves the characteristic of the product. It includes aspects such as the design of the product, style of the product, the capacity and design of the engine, the unique qualities and a good manufacturing process.
Quality Engineering can speak volumes as to how important quality is for an organization. If the organization has and maintains high quality in their products, it gives the organization a higher level of credibility.
Safety so a consumer would know the company is about their safety. Price so anyone would be able to purchase the product.
The positioning strategy would be to provide financing options and increase service. This option can help attract new customers there is no significant increase in expenditures. Giveaway merchandise can help promote the product and get the word out for the updated options.
The place would be in dealerships and on the manufacture website.
It can give the customer the option to come in and view the product or go online and have a bit more option. The services with the car would be a customization option and financial services just to reel the customer in. Results Even thought there was a recommended solution only two of them were correctly chosen which was price and quality engineering.
The other two fundamentals that should have been chosen were lifestyle image and Service. Lifestyle image provides has the most attributes to the products image. Service would make loyal customers and make dealers and distributors happy.
Even though everything was consider there are some decisions that could have been made differently.
What is the relationship between differentiation and positioning of products or services? To compete successfully, your company must identify what makes your brand different or better, and communicate this value to potential customers. Companies position their differentiated products in the marketplace effectively to attract the attention of likely customers.
Marketing positions, can establish effective advertising, premium, valuable, practical, affordable and inexpensive. Is the repositioning of the product in the simulation as you had expected it to be?
Explain why or why not. Repositioning of the product in the simulation was very hard but a very good experience for anyone interested in being in a big business. One minute thinking being practical was the best option but then come to find out it was not the best option for the product.
Then rethinking and repositioning it seems the outcome was worst then the prior repositioning. It takes a long time to figure out the proper readjustments that need to be made a about the repositioning to be a success. It is not a easy position to be in at all to make those kinds of decisions.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.
Summary Perceptual mapping can be extremely insightful into the inner workings of the product life cycle. The simulation showed me how a declining product can be rejuvenated by making changes to the marketing mix.
Using Perceptual Maps in Marketing MKT/ Using Perceptual Maps in Marketing Thorr Motorcycles is a very successful business based in South Dakota sells motorcycles and motorcycle apparel.
Thorr Motorcycles is a multibillion dollar company that manufactures more than , motorcycles each year. Smith Thorr Motorcycles: Perceptual Maps Marketing Simulation Producing more than , motorcycles a year, Thorr Motorcycles, Inc. is a successful manufacturing company. Thorr also offers services such as dealer training, packaged software, rider training, and rentals.
Perceptual Maps in Marketing Simulation Summary Phases of the simulation, the situation, recommended solution, and results will be discussed. By bakeshop Perceptual maps help to improve a company’s current product on the market by mapping consumer expectation of the product. Using perceptual maps in marketing simulation summary essay. November 18, Using perceptual maps in marketing simulation summary essay. 4 stars based on reviews yunusemremert.com Essay. No comments. Leave a Reply Cancel reply. Your email address will not be published. Summary Perceptual mapping can be extremely insightful into the inner workings of the product life cycle. The simulation showed me how a declining product can be rejuvenated by making changes to the marketing mix.
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. Perceptual Maps in Marketing Thorr Motorcycles is a company that manufactures , motorcycles a year.
It also licenses T-shirts, shoes, leather goods, toys, and other consumer items.