This paper will review each part of the simulation Where is the Thunder? Where is the Thunder? As a new marketing manager, I was asked to develop a marketing plan to reverse the downward sales trend of the CruiserThorr product.
This simulation illustrates the use of perceptual maps in formulating positioning and differentiation strategies. The simulation had my position as the Marketing Manager for Cruiser Thor, a motorcycle company that was having problems in the market share.
The simulation would then take me through different phases of identification, correction and resolution analysis. We were to use this map to resolve our sales problems.
I started mapping what I thought was important to the customer and in best interest for the company and decided my four major parameters of focus would be lifestyle image, product design, product uniqueness and quality engineering.
When graphing those four attributes out the mix seemed very well rounded and best balanced. It turned out though that I overlooked the importance of the price tag and service options were important factors that should have been a part of my mix.
Price is proportional to image so the high price tag better represent a high lifestyle image, or status. Styling and lifestyle image were agreeable to remain as part of the perceptual map. So we had our perceptual map and had some feedback about how the customers view Cruiser Thor.
Our position in the market was in need of change and I was the person that had to find the resolve and create improvement, so I had to create a plan that would have a better marketing strategy and differentiation then what was already in effect.
So I had some decisions to make. I could reposition the marketing strategy by making adjustments to better meet our target market, or I could launch a new motorcycle that would appeal to a new younger market.
|Other Essays On "Using Perceptual Maps In Marketing"||Thorr Motorcycle Background of Situation Thorr Motorcycles is a company that manufacturesmotorcycles a year.|
|Purchase Solution||They sell approximately about|
Since Cruiser Thor was still appealing to its older, more financially stable generation of customers, I decided to leave what was working with the more expensive Cruiser Thor and launch a new bike called the RRoth to try and attract the younger crowd that was not as interested in the large and expensive Cruiser Thor.
So it was time to build a new projected marketing strategy for this new motorcycle and the mix I had decided on was to promoted through Hollywood and through celebrity endorsement.
We also sponsored events such as Daytona which has a large amount of our target market already accessible to promote to. We offered a new better line of insurance and protection plans, with purchases happening not only through dealers and distributors but also online interactions.
We also put added effort into dealer training, financing options and customization options for the new RRoth. When reviewing the Cruiser Thor our target market of was remaining pretty satisfied as always, with a few customers who were not as fond of the Thor, but that is to come with any product and as we had already identified, the younger crowd was not as fond of the Thor to begin with.
Since our test group has an age range of we were sure to have some negative feedback. We already had put plans in motion to appeal to the younger crowd anyhow through our RRoth line. We did discover that our services department did need a little re-alignment in the market though also. Our price tag remained high which was one of the lower ratings, but then it also seemed that our test groups with money were willing to spend that money.
We also increased our dealer training, financing services and customization options which was taken great by our customers.
So for the RRoth marketing strategy re-assessment I thought the most pertinent parameters would be its price, coolness, quality engineering and its design. It seems that the younger less financially secure crowd enjoyed being able to be a part of the esteemed Cruiser Thor family, even if it was on the saddle of an RRoth.
In the case of Cruiser Thor, the Cruiser Thor was differentiated from the competitors because of its size, engineering, price tag and life style image that the bike was known for. Unfortunately its positioning in the market was not doing as well as its competition because of those same attributes and how they positioned the company in the market.
So Cruiser Thor created the RRoth to help the company with its positioning in the market, and receive a better market share with is competition that offered more affordable motorcycles. If addressed by department we could also say that the RRoth is in its introduction stage.
The Decline stage for Cruiser Thor was helpful in creating change in the market strategy allowing for new implementations to take place and breathe some new life into the company.The perceptual maps in marketing simulation involved a company called Thorr dedicated to the manufacturer of motorcycles.
The company’s target market is the high end market composed of customer between the ages of years old. Using Perceptual Maps in Marketing Simulation Marketing / As a marketing manager for Cruiser Thorr who sells high end motorcycles.
This organization is growing at a rapid pace. Using Perceptual Maps in Marketing Simulation Summary The situation consists of me constructing a perceptual map to create a marketing plan for Thorr Motorcycles. The perceptual map will be based off of parameters fundamental to the .
Using Perceptual Maps in Marketing Simulation: Thorr Motorcycles - MKT / - UOP THORR Motorcycles is a billion dollar company that manufactures motorcycles and also sells clothing products and other consumer items. View Essay - Perceptual Maps in Marketing Resources from BUS mgt at University of Phoenix.
"Using Perceptual Maps in Marketing" Simulation Lifestyle image is an important attribute to Thorr. Simulation Paper PAGE 5 "Using Perceptual Maps in Marketing"Luz D. GuardadoMKT/Lisa GallagherSeptember 19, Company OverviewThorr Motorcycles, Inc.
is a $5 billion co.; which manufactures a range of motorcycles, and produces more than 20, units per year.