Using Perceptual Maps in Marketing Simulation Summary Essay Example
Using Perceptual Maps in Marketing Simulation Summary
February 4, 2013
Mark Brady
MKT/ 421
Using Perceptual Maps in Marketing Simulation Summary
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 around 200,000 units 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. The marketing plan is to reposition the CruiserTHORR, and to interpret market research findings to plot Cruiser THORR's brand attributes on a perceptual map. The situation in this part of the simulation is that the CruiserTHORR position in sales has not been helping sales. 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. The situation in this part of the simulation is that the CruiserTHORR position in sales has not been helping sales. 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.
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The solutions that are
February 4, 2013
Mark Brady
MKT/ 421
Using Perceptual Maps in Marketing Simulation Summary
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 around 200,000 units 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. The marketing plan is to reposition the CruiserTHORR, and to interpret market research findings to plot Cruiser THORR's brand attributes on a perceptual map. The situation in this part of the simulation is that the CruiserTHORR position in sales has not been helping sales. 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. The situation in this part of the simulation is that the CruiserTHORR position in sales has not been helping sales. 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