Perceptual Maps In Marketing Simulation Summary

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Perceptual Maps in Marketing Simulation Summary MKT/421 Perceptual Maps in Marketing Simulation Summary Thorr Motorcycles is a name that illustrates power and superiority. Its chief product, CruiserThorr, reflects the development of an effective marketing mix through careful positioning. In the simulation, the CruiserThorr sales are declining. For many reasons including price, service, and competition, Thorr Motorcycles must assess the marketing mix and determine what course of action will re-establish CruiserThorr to a competitive status in the market. The options presented are repositioning the CruiserThorr or introducing a new motorcycle. After hiring a new marketing manager, the reader, his or her responsibility is to develop a marketing mix through the analysis of market research and perceptual maps. The first step in the simulation requires the marketing manager to construct a perceptual map by deciding what parameters fit the product and the need of the consumer. Thorr Motorcycles differentiates its products by age groups, price in relation to income, and lifestyle appeal; therefore, the best parameters to build a perceptual map are lifestyle, price, quality engineering, and offering financial options. Age and lifestyle are hand and glove to faithful CruiserThorr customers. The motorcycle conveys a message of status, power, timelessness, and masculinity that customers between 35 and 50 respond to most. Although the CruiserThorr appeals to all ages, the cost of the motorcycle causes consumers, younger than 35, to purchase economical alternatives from Thorr Motorcycles’ competitors. The perceptional map reveals that the CruiserThorr, although stylish and appeals to a particular lifestyle, no longer can compete with the pricing and service offerings of its competitors. Although the suggested marketing plan includes quality engineering as a key

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