Helping Others Essay

1049 words - 5 pages

Using perceptual maps in marketing simulations
Donte Thorne
MRK/421
April 5,2012
Ms. Fulton

Using perceptual maps in marketing simulations

Through visual representation of the consumer’s perception of brands perceptual maps help illustrate the distinctive positioning of a company and may also help with creation of a marketing plan. Many parameters can overlap superficial attributes of a specific product while other parameters define the products fundamental parameters. The fundamental parameter of Thorr Motorcycle’s perceptual map is a lifestyle image which highlights the motorcycle industry. The projected image of motorcycles assumes characteristics of masculinity, mobility, and ...view middle of the document...

The CrusieThorr appeals to all ages however, the premium price of the product causes potential customers under the age limit of 35 to purchase economical alternatives from the competitors of Thorr Motocycles. The results of the perceptual map reveals that the CruiseThorr is a very stylish product and appeals to a specific lifestyle, but can no longer compete with the service offerings and price of its competitors. The previously suggested marketing plan suggests quality engineering as one of the key parameters, but the marketing team for Thorr’s motorcycle has accepted the parameters proposed inside the simulation. The second step inside the simulation is to decide if the CruiseThorr motorcycle needs to be repositioned or whether to launch a new motorcycle. With the strong advice of several key team members and a 13 million dollar budget the company has decided to pursue the goal of introducing a brand new motorcycle to the company as well as focus on improving the CrusieThorr’s mix. This will be the best option for the company to attract a younger market. Analyzing consumer preferences has motivated Thorr Motorcycles to lower the price of the CruiseThorr and reestablish the products lifestyle appeal and increase service options. In addition Thorr Motorcycles hopes to appeal to the youth by constructing a customizable and affordable motorcycle called RRoth that also comes equip a fuel efficient engine.
The marketing mix for the new motorcycle includes promotions, internet options, and financing services and affordable pricing at 13 to 15 thousand dollars. The CrusieThorr will meet the needs of the older and existing customers and the RRoth will help the company attract a new younger market and help build on Thor’s Motorcycles growing popularity. Within one calendar year of implementing this new marketing plan customer surveys reveal information reflecting Thorr motorcycles initial marketing research data. The perception of the CrusieThor remains a little optimistic as it relates to their projected sales. The analysis of the data indicates that customers negatively rate the CrusisThor pricing and services and customers positively rate the RRoth’s pricing and services. By redesigning the marketing plan and implementing a new product in to the market Thorr Motorcycles has increased the sales of the CruiseThorr and capitalized on their opportunity to attract a new and younger market.
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