"Using Perceptual Maps In Marketing" Essay

986 words - 4 pages

Simulation Paper PAGE 5
"Using Perceptual Maps in Marketing"Luz D. GuardadoMKT/421Lisa GallagherSeptember 19, 2007Company OverviewThorr Motorcycles, Inc. is a $5 billion co.; which manufactures a range of motorcycles, and produces more than 20,000 units per year. It also licenses programs to sell T-shirt, motorcycle goods, leather goods, toys, and others consumer's goods. Their service includes dealer training, dealer software packages, motorcycle rental, and riding training. The company enjoys a high brand image in the market (especially in the 651+ cc heavyweight cruiser segment) and controls a 40% of the share in an oligopoly market.In the simulation, I needed to formulate positioning ...view middle of the document...

They can be used to plot a perceptual map, but they are not fundamental parameters. I have learned that this may not make them useful for a positioning strategy.2nd Scenario - May 5, 2x01… The perceptual map has revealed Cruiser Thorr's place in the market, and this place has not been helping sales. As Marketing Manager, I have to decide whether I should maintain my current positioning strategy and enhance it, or changed the positioning completely. Other option is to launch a new motorcycle that targets younger customers, with the challenges of having to decide its features and to price it right to target.Depending on my decision, I will have to create a marketing plan that reflects the strategy and the differentiation. I have $13 million budget to implement my marketing plan. The result was Revved up! I chose to maintain the current positioning and enhanced the strategy. I decide not to decrease the price or increase the style. According to University of Phoenix General Marketing (2007) simulation this is a very good move. Decreasing the price of a high-image motorcycle may ruin its image. The differentiation strategy in the marketing mix was to maintain the same Price. Because decreasing the price would adversely impact the brand image and increasing it would inhibit the younger customer segment. The Promotion was to publicize through Hollywood films because have a science fiction based or technology-based storyline, this is very important to the product category. For Place, I decided to go for the Internet (Manufacturer's Website) because is important to include a Web as a place for promotion to reach and attract younger customers. I chose financial services (younger customers preferred financial plans), customization options (some consumers will spend more in acquiring a...

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