Using Perceptual Maps in Marketing Simulation
Using Perceptual Mas in Marketing Summary
Christy Gehr
MKT/421
February 21, 2013
Professor Jose Siqueira Using Perceptual Maps on Marketing Simulation Summary
Throughout this paper the situation of Cruisers Thorr Motorcycles will be discussed along with suggestions and recommended solutions, and finally the results. Isolation and positioning of products or services will show in this paper. Additionally, it will debate how the product was affected in the simulation because of the product life cycle in marketing. The business of Thorr Motorcycles assembles about 200,000 bikes a year. The company is a five billion dollar very accomplished business. The company also manufactures leather goods, T-shirts, toys, and shoes. The high end of the company is the Cruiser Thorr. Although the industry in thriving, the Thorr Motorcycle sales are diminishing (University of Phoenix, 2011). One issue steaming from the decline in sales has to do with the targeted audience. Thorr Motorcycles have become an expensive and classic bike appealing more to the older 35 to 50 year-old age groups. Though the younger generations are interested it becomes less appealing because of the price. The younger generations do not have the income to purchase a Cruiser Thorr Motorcycle. Furthermore, it is important that the company carries on and is successful, so the market strategy must be altered. The company decides to implement a perpetual map in marketing to come to a decision whether or not they should reposition Cruiser Thorr or introduce RRoth motorcycle. RRoth is more affordable and a lower quality to attract the younger generation (Kotler P, n.d). At times in is not always necessary that the product fit the exact desires of the audiences that was targeted, but rather consumers perceives that it does. To be successful in this tactic the correct amount of advertising and putting out the right message are both
Christy Gehr
MKT/421
February 21, 2013
Professor Jose Siqueira Using Perceptual Maps on Marketing Simulation Summary
Throughout this paper the situation of Cruisers Thorr Motorcycles will be discussed along with suggestions and recommended solutions, and finally the results. Isolation and positioning of products or services will show in this paper. Additionally, it will debate how the product was affected in the simulation because of the product life cycle in marketing. The business of Thorr Motorcycles assembles about 200,000 bikes a year. The company is a five billion dollar very accomplished business. The company also manufactures leather goods, T-shirts, toys, and shoes. The high end of the company is the Cruiser Thorr. Although the industry in thriving, the Thorr Motorcycle sales are diminishing (University of Phoenix, 2011). One issue steaming from the decline in sales has to do with the targeted audience. Thorr Motorcycles have become an expensive and classic bike appealing more to the older 35 to 50 year-old age groups. Though the younger generations are interested it becomes less appealing because of the price. The younger generations do not have the income to purchase a Cruiser Thorr Motorcycle. Furthermore, it is important that the company carries on and is successful, so the market strategy must be altered. The company decides to implement a perpetual map in marketing to come to a decision whether or not they should reposition Cruiser Thorr or introduce RRoth motorcycle. RRoth is more affordable and a lower quality to attract the younger generation (Kotler P, n.d). At times in is not always necessary that the product fit the exact desires of the audiences that was targeted, but rather consumers perceives that it does. To be successful in this tactic the correct amount of advertising and putting out the right message are both
References: Kotler P, (n.d.). Developing a Positioning Strategy. Retrieved from: http://www.learningmarketing.net/positioning.htm The Product Lifecycle (2011). Net MBA. Retrieved from: http://www.netma.com/marketing/product/lifecycle/ University of Phoenix. (2013). SIMULATION: “Using Perceptual Maps in Marketing” Simulation. Retrieved from: University of Phoenix, MKT/421