“using Perceptual Maps in Marketing” Simulation

“Using Perceptual Maps in Marketing” Simulation

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 situation

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.

Recommended Solutions

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 potentially give an image of lower quality products. Service was chosen because having good customer service is what keeps customers happy. This can produce loyal and happy customers.

In the second stage of the simulation, a decision was needed concerning if the creation of a marketing plan that would reposition Cruiser Thorr or launch a new motorcycle. The best decision for the organization was to reposition Cruiser Thorr. The positioning strategy that I chose was to provide financing options and increase services. In providing financing options and increasing services, the organization will open doors for potential customers who may have felt that the Cruiser Thorr was unaffordable. By providing finance options, the organization will attract a younger audience that has already shown interest in the Cruiser Thorr. This option also does not significantly raise expenditures. After deciding to provide financing options and increasing services, I decided not to increase the price of because some customers feel that price is already a concern. An increase would further deter potential customers. Promotions that would be included are to organize parties for Cruiser Thorr owners, offer free test rides, contract celebrity endorsements and provide merchandise giveaways. With the organized parties, we want give an image of belonging. By hiring a celebrity for endorsements, the organization increases their visual imaging by having a name attached to the product. Offering free test rides and merchandise giveaways is another way that the organization can promote the Cruiser Thorr. The places that we will promote the Cruiser Thorr are on Manufacturer’s Web Site via the Internet and Dealers. The Internet will allow for a greater opportunity for the product to be seen on a larger scale versus only having showroom viewings. Service promotions that will be added to the marketing plan are customization options and financial services. Working with a budget limit of $13,000, the choices that were picked to create the marketing plan kept the expenditures down to $11,416.

The last situation involved interpreting market research findings in order to plot Cruiser Thorr’s brand attributes on a perceptual map. I assigned Lifestyle Image a nine due to the fact that is what the customers appreciated most about the product. Quality Engineering