Perceptual Maps in Marketing - Cruiser Thorr
Using Perceptual Maps in Marketing" Simulation Summary ... Perceptual Map in Marketing for Cruiser Thorr Motorcycles (Thorr Motorcycles).
Complete the simulation "Using Perceptual Maps in Marketing" and prepare a 1,050 word summary in which you address the following:
Formulate a differentiation strategy for Cruiser Thorr by changing the market mix at the Price, Place, Promotion and Services levels.
My Performances: Marketing Mix , Lifestyle, price, service offering and quality engineering.- repositioning, financial options- price parameter, increasing service
My Decisions: Maintaining price- Publicize through Hollywood Films- Internet (manufacturer's Web Site), Financial Service and Customization Options,
A. For each of the three major phases in the simulation, describe:
1) The situation
2) Your recommended solution(s), including why
3) Your results
B. Summarize the different marketing components addressed in this simulation by answering the following questions:
1) What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Why or why not?
2) What is the impact of the product life cycle on marketing? What impact did the product life-cycle have on the product in the simulation?
Perceptual Map in Marketing for Cruiser Thorr Motorcycles (Thorr Motorcycles).
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...l exceed customer expectations. Quality engineering will ensure that Thorr Cruiser delivers a unique riding experience to anyone.. Thorr Cruiser will provide comfort on every ride. Quality engineering will ensure that Thorr Cruiser motorbikes have style, durability and look. Quality engineering will also add features to Thorr Cruiser that will influence customers to purchase Thorr Cruiser for what it represents. Thorr Cruiser represents freedom, masculinity and mobility.
Thorr Cruiser also gives financial options to the customer of its motorcycles. This means that customers can avail themselves of finance to purchase bikes. In other words the entire package of lifestyle pricing, excellent service offering and quality engineering will help develop a new and more attractive perception of Thorr Cruiser in the minds of the consumers and will reposition Thorr Cruiser.
The decisions that were taken were to maintain the price. In face of falling sales, one of the most attractive options is to reduce price. I have however, opted to maintain the price because price is a powerful factor that influences the perceptions of the customers. Reducing prices will create an impression that a new watered down version of Thorr Cruiser has been introduced. This is against the marketing plan of Thorr Cruiser. This is why I have maintained the price. In addition, since the objective is to position Thorr Cruiser as a lifestyle motorcycle, it will be publicized through Hollywood Film. The movies will be selected in such a way that the positioning of Thorr Cruiser will be enhanced. The movies will position Thorr Cruiser as masculine, mobile and a symbol of freedom. To improve the ease of ordering and purchase, I selected publicity through the manufacturer's website. Being able to purchase the motorcycle through the internet is in accordance with the lifestyle positioning of Thorr Cruiser. Financial service has been selected by me because there is a feeling that Thorr Cruiser is facing declining sales because of the overall economic weakness. To counter this problem, financial services will allow the purchaser of Thorr Cruiser to make payments according to his convenience. ...