Thorr Essay

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RUNNING HEAD: THORR MOTORCYCLES NEW MARKETING DIRECTION Introduction This paper summarizes the Thorr Motorcycles simulation. It addresses the different situations associated with the creation of a new marketing plan to reverse a decline in sales. This paper will summarize the different marketing components of the simulation regarding product differentiation and positioning. It will explain the effect of the product life cycle on the product and its marketing. Situation 1: Create the Perceptual Map Ascertain the market position of CruiserThorr using a perceptual map. Choose four fundamental parameters that are relevant to the motorcycle industry and that reflect the highest potential for CruiserThorr. Recommended Solution The four fundamental parameters chosen were Lifestyle Image, Service Offering, Quality Engineering, and Price. These parameters directly affect the purchasing decisions of the consumer. Focusing on these parameters takes the marketing of Thorr Motorcycles in a new direction to reach a greater customer base. Lifestyle image influences consumer buying power. Customers buy into what the company represents in the industry rather than the functionality of the product. Thorr Motorcycles’ image rates high, at 9.2, in the market research study. Service offering ensures consumer loyalty. Offering services is a way to keep dealers and distributors happy because it brings business. To help create a new marketing plan to reverse the decline in sales, Thorr Motorcycles must focus on service offering because off a low rating in consumer perception. The company can improve this fundamental attribute. According to the simulation “Quality engineering covers almost every aspect of a product” (University of Phoenix. 2012). Quality engineering is important to Thorr Motorcycles because without it the product cannot maintain the high image it has created.

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