"Using Perceptual Maps in Marketing" Simulation
The way industries, consumers, and society in general define marketing is often very different. The definition of marketing will often very by what aspect of marketing the individual has been knowledge. For example, a customer service representative is aware of the mantaince and quality of service provide after the creation of the product. On the other hand, a marketing agent is exposed to the quality of the product, promotion, sales, prices, and advertising of a product. A person that receives a survey to obtain the indivdual’s views on a product has knowledge that the organization is seeking information to find out the views of the consumer. ...view middle of the document...
Lifestyle image is an important attribute to Thorr Motorcycles, Inc. because it can influence customer to purchase a Cruiser Thorr due to what it represents. The perceptual map is a visual representation of a customer's opinion of the brand. The Lifestyle Image that the Cruiser Thorr represents is freedom, masculinity, and mobility. With the decline of sales, Thorr Motorcycles will need to change the consumer image in order to bring profits to the Cruiser Thorr again. Because marketing is not only selling and advertising organizations must understand how it can affect the product and players in the economic system. The simulation helped to construct and use a perceptual map in order to create an effective marketing plan for the motorcycle brand.
The major situations in the simulation where a decrease in the sales of the Cruiser Thorr, creation of a market plan that would reposition Cruiser Thorr versus launching a new motorcycle, and to interpret market research findings to plot Cruiser Thorr's brand attributes on a perceptual map.
The solutions that have been recommended are reformulating areas of Quality Engineering, Price, and Services. Quality Engineering was chosen because it encompasses every characteristic of the product. It includes aspects such as the design of the product, style of the product, the capacity and design of the engine, the unique qualities and a good manufacturing process. Quality Engineering can speak volumes as to how important quality is for an organization. If the organization has and maintains high quality in their products, it gives the organization a higher level of credibility.
Price was chosen because it is an important aspect to most consumers. Price is a major factor in decisions to purchase an item or not to make the purchase. Having a high price directly relates to the quality that is put into the product and a lower price could...
Using Perceptual Maps in Marketing” is a marketing simulation that dealt with Thorr Motorcycles. Thorr Motorcycles is considered a high brand image of motorcycles, manufacturing 200,000 motorcycles a year. The simulation clearly states that all companies have to differentiate their marketing strategy in a way that distinctively separates then from their competitors. Positioning and differentiation are the most important components of Thorr’s marketing strategy and tactics. One way that a company can gain help in this positioning is o use a visual representation of the consumer’s view of the product.
The image that Cruiser Thorr symbolizes is one of freedom, mobility, and masculinity. Thorr motorcycles are experiencing a decline of sales and a need to change the consumer’s view of their motorcycles in order to increase their profits. The main objective of this simulation is to allow students to apply information and construct a perceptual map that can be then used to develop an effective marketing plan for Thorr Motorcycles...