This website uses cookies to ensure you have the best experience. Learn more

"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...

Other Essays On "Using Perceptual Maps In Marketing"

Detailed International Marketing Plan Outline: Part II

1803 words - 8 pages decisions, identifies new markets, changes products and develops new products (Lindsey, 2008).Challenges on ImplementationGE's international marketing plan needs to adapt to the market, using strategies to accomplish the company's goals. Marketing in India means GE needs to find a combination of target markets and marketing environments different from those used in the U.S. due to differences in the cultural, social, economic, and legal forces in

Humor In Cross-Cultural Advertising Essay

5574 words - 23 pages for Using Humor in International Advertising," Humor: International Journal of Humor Research, 9 (2), 143-168.Vakratsas, Demetrios and Tim Ambler (1999), "How Advertising Works: What Do We Really Know?," Journal of Marketing, 63 (1), 26-43.Weinberger, Marc G. and Harlan E. Spotts (1989), "Humor in U.S. Versus U.K. Tv Commercials: A Comparison," Journal of Advertising, 18 (2), 39-44.ZenithOptimedia (2009), "Zenithoptimedia Global Adspend Forecast

International Marketing Plan And Objectives

996 words - 4 pages will target 2% of the targeted audience during the second quarter.Market Share. A common objective for companies engaged in international trade is to expand global market share. This goal is accomplished by earning market position within individual nations using various strategies. Pure-n-Clean will conduct marketing research to determine demand levels for water filtration products within the country of Mexico, targeting a 1% gain of the available

Integrated Marketing Communications - Ireland

1249 words - 5 pages IntroductionXYZ has completed their initial thrust gathering primary and secondary data in Ireland and determined their product should be a success. The necessary export licenses to sell XYZ product in Ireland have been submitted to the State Department and once the State Department has approved the export releases, focusing on an outline for a successful marketing communications program will begin.Joining the Ireland Chamber of Commerce in the

Marketing In Business

983 words - 4 pages business an idea of how they can sell their products and how they can archive this. This marketing technique helps the business to stick to its time frame. It's really important for the business to stick the time frame they set up to sell their products because by using this system of marketing will benefit the business and they will be able to know how much of their product they have sold in that time and if they don't sell as much they thought they

Business Studies Marketing Strategy

572 words - 3 pages The marketing mix is a recipe for effective marketing. Using the marketing mix when planning the marketing for a product allows for a consistent approach.Getting a good balance of the 4 Ps will mean an effective marketing campaign.The main pricing strategies areCompetitive pricingCost plus pricingPenetration PricingPrice skimmingDestroyer pricingPrice discriminationCOST PLUS PRICINGThis is the simplest pricing strategy and is aimed at ensuring

Ikea.Com (Overview On The Company)

7745 words - 31 pages . Value here equalled the price, which the costumer paid (...); an alternative view of value creation, 'value co-production,' (...) enable us to consider value creation as synchronic and interactive, not linear and transitive. Customers in this alternative view create value they do not destroy it. Value is not simply 'added,' but is mutually 'created' and 're-created' among actors with different values.A glance in Marketing Mix in a perspective of


777 words - 4 pages today's world , we as a society still have issues with the dependence of technology .Marketing professional focus more on advantages of the social media market but often leave out the people who are not a part of such a marketing way as they have little interest in taking such advantages and using it in their daily life. Just as these communities grow in number, the standard of living and income would increase and websites , social networking

Applied Research

5284 words - 22 pages and two uncertainty factors were determined using several decision rules: theoretical rationales, values greater than one, scree plots, and high factor loadings. Project Performance We measured project performance using the averaged judgments of the project manager and his or her department head. Perceptual measures of performance were used to reflect expectations rather than final outcomes. Use of these measures enabled us to gauge

Organisational Culture, How It Develops And How It Is Effected By External And Internal Forces

4670 words - 19 pages /strengthening new behavioral patterns;During this stage, the change agent has the opportunity to:*Test new behavioral patterns for congruence with self and environment.*Check that others accept and confirm new patterns (in practice)*Strengthen new behavioral patterns using rewards (positive reinforcement)Senge 1990 (21) identifies two barriers which must be overcome when implementing cultural change:*Due to difficulties in measuring improvement, it is

The Danger Of Not Aligning The Three Domains In Change

3807 words - 16 pages China Branch. Its ophthalmology business' leading position in China was recently endangered by overseas and domestic companies' competition. Product market share was diluted by cheaper local me-too products. Sales couldn't reach budget and relationship with ophthalmologist worsened.The company had separate sales and marketing operations led by two Directors. There were two product managers in Marketing Department, both of whom had years experience

Similar Papers

E Commerce Means Death Of Mass Marketing

1498 words - 6 pages is running in the TV, is important to put website of the product when advertising going to finish. People is using internet more and more and it's could be a good way to get people's attention.4.2 Mass-marketing should be cheaperTelevision is a good source for companies to market their products. It is one of the leading ways for companies to advertise, but this type of advertisement does not come without its price. Television is the most

Marketing Differences B2 B & B2 C Essay

1283 words - 6 pages , particularly psychology, sociology, and economics. A creative minded person, generally one who has studied creative arts in a higher education institution handles the advertising aspect of marketing ( 2005). Along with a marketer having great customer orientation skills and a focused mind, they will utilize a marketing mix consisting of the 4P's. Using the marketing mix to form a marketing plan the marketer will find what the consumers' desires

Destination Image: Image Problem Of Turkey As A Case Study

7342 words - 30 pages segment of potential tourists, or repeated visitor.Thus, image of the destination is vital to develop appropriate marketing strategy and being used as promotional tools, not only to the operator of the business but also to those responsible in tourism development. In this case, the role of image has been shown to be an important factor in influencing tourists' preferences and selection of vacation destinations.Therefore, this paper attempt to review

Learning Essay

2067 words - 9 pages care careers. Active learning refers to students being actively involved in the discussion by either doing a physical activity or game, brainstorming in groups with other classmates, or presenting ideas in front of the class. With this type learning style the instructor can come up with a fun learning game, a concept map activity, video, or a group project for students to do, either before or after a lecture. Using these activities before a