Showed first 250 characters, custom essays: Order plagiarism free custom written essay. Recommended Solutions To position a strategy, steps must be taken to choose the proper fundamental parameters. Simulation Perceptual Maps in Marketing Simulation Perceptual Maps in Marketing To position products in increasingly crowded markets, marketing managers must understand the dimensions through which customers perceive products or services, and the firms offering relative to competitive using perceptual maps in marketing simulation essay offerings (Garry., 2007). The parameters that I picked and felt were the most appropriate to market a new motorcycle were product design and styling, service offerings, price, and quality engineering. Cite this document, summary, three scenarios will be presented in the simulation and this paper will look at the situation, the selected action plan and its rational and the end results will be explained in brief detail of all the three scenarios.
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High-end companies and households while concentrating less on the lower end segment. Perceptual maps are used by marketing managers to improve a companys existing or new product in the market by capturing significant factors that define the competitive. I chose to decrease price and increase style to help boost sales because with recent pitfalls in the economy has caused sales to decrease. The market dynamics through research showed that the young men, aged from 20 35 comprised of a strong market potential. Planning is effected and depending on where the product is in the life cycle can help the company prepare for the future of the product. I chose innovation tactics that proved to be a good plan to increase revenue. The first motorcycles cost approximately 200, today motorcycles can cost upwards of 25,000. This would allow customers to get the motorcycle and pay it off in a reasonable time and still not lose out on the profit. I chose to reposition CruiserThorr, decrease price and increase styling, and use price, promotion, place, and services as the differentiation options. Read Text, preview, extract of sample using. Moreover, the alternative market of the youngsters do not relate to the image of the brand of Cruiser.
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Besides this, the Product Style and Design would have complimented the Lifestyle image. According to the simulation, I could have done better especially pertaining to price. The positioning and differentiation of products are essential element of marketing strategies and tactics. When companies advertise the distinctiveness of their product will over shadow their competitors. Knowing where the product is in the life cycle helps the company prepare for increases and declines in sales. I suggested that the market team should decrease the price while increasing the style of the motorcycle to appeal to the target population. I did not select the Lifestyle parameter exclusively because the trend in the target market showed that this was no longer as important to the consumers as it was when they were young.
Thorr company implemented different strategies to reposition the image of a high quality motorcycle. The best decision for the organization was to reposition Cruiser Thorr. Org/ marketing /1426889- using - perceptual - maps -in- marketing - simulation. Let us find you another Essay on topic Using Perceptual Maps in using perceptual maps in marketing simulation essay Marketing simulation for free! The company holds a market share of 40 in an oligopoly marketplace.
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We will write a custom essay sample on, using, perceptual, maps in, marketing, simulation or any similar topic specifically for you. Situation 1 of the. The idea of repositioning Cruiser would be harmful because Cruiser Thorr is the premium brand of the company and repositioning it in the.Download file to see next pagesRead More. First, lifestyle image is recommended. So while the company is expecting an increase in sales they may not because the competitors campaign may be more appealing giving off the impression that the original item is a copy. This therefore means that there is potential in the lower-end segment.
Quality engineering covers all the aspects of manufacturing from sourcing the best material to high-quality production to superior styling (University of Phoenix,. Barber, published in 1776. Total price:.00 Common topics in this essay : " Using Perceptual Maps in Marketing " Simulation " Using Perceptual Maps in Marketing " Simulation Contract Creation And Management Simulation Contract Creation and Management Simulation Contract Creation and Management Simulation Contract. This helps to build loyalty and a customer fan base. I chose product design and styling because often what the customer sees influences what they buy. This helped in understanding the perceived value that customers held for these motorcycles. Perceptual, maps in, marketing simulation, essay,.d. To help reposition the product.
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4 / 1040 Perceptual Maps in Marketing : Thorr Motorcycles Thorr Motorcycles is a company plagued with waning sales of their products. The relationship between differentiating and position of products and services allow companies to show the differences of their products and services from using perceptual maps in marketing simulation essay their competitors and secure a position in the market to maintain the interest of customers needs. Some of the key strategies the company has utilized to market its product is focusing on lifestyle and the quality of the product to provide a superior motorcycle for its clientele. retrieved from https studentshare. The situation The situation for Thorr Motorcycles is the number of the CruiserThorr motorcycles decreasing. With the use of a perceptual map, Thorr will be able to develop a visual representation that will act as a guide to assist the company in regaining their sales and their place in the market. 3 Pages(750 words) Essay Simulation Perceptual Maps in Marketing? Customers want products that are appealing to the eye and what better way to do so than by making sure that the product is new, cool looking, and gives off the impression that the product is amazing. Switching the direction of the motorcycles in the simulation was a necessity because it increased their sales and gain interest from new customers. Even though there were minor changes to the Cruiser motorcycle, it was the financial services and services offered by the company are what increase the interest of the younger buyers. So that being said changes in marketing conditions or consumer needs can hinder the assumption of where the product should be in the life cycle. 5 Pages(1250 words)Research Paper Using Perceptual Maps in Marketing?
Quality engineering is what covers every aspect of the motorcycles; for example, their design, style, engine capacity, uniqueness, and the quality. Differentiating is the marketing mix to improve on meeting the needs of customers and the company building a competitive advantage (Perreault, Cannon, McCarthy, 2011). Thorr Motorcycles must change the position of this product rather than opting to introduce a new designed motorcycle. Thorr Motorcycles believes in having a high brand image in the market. Currently, we see the co-existence of huge airlines catering to the upscale market by offering value-added services suited to the market with the aggressive smaller players emphasizing on no-frills product and lower prices. In conclusion, my job was to choose a marketing plan for Thorr Motorcycle Inc. The relationship between differentiation and positioning is that both elements go hand in hand. 3 Pages(750 words) Essay Perceptual Maps.on the business and leisure travelers and offers services at a high price. The purpose of the.
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This attribute will capture customers attention toward the image. Justify your response as much as possible with data for the case and any other research you may choose. ) The product or motorcycle in this case cannot be successful without this important attribute because it incorporates everything such as design, engine capacity, coolness, or uniqueness. The cost of a princely motorcycle was 200 in 1901. It also licenses T-shirts, shoes, leather goods, toys, and other consumer items. I selected the parameters of Price, Service Offerings, Product Uniqueness, Product Design and Style. Thorr must make some decisions to boost their sales. For example, Thorrs Motorcycle Inc. Nobody downloaded yet, add to wishlist, delete from wishlist. Do Not Waste, your Time, hIRE writer, only.90 / page. In the first quadrant which carries players offering high quality service and. Scenario.1 The Situation Cruiser Thorr is the market leader in the motorcycle industry where the consumers symbolize the brand with lifestyle.
For promotions I chose to sponsor events, offer insurance and protection plans, offer test rides for free, hire celebrities for endorsements, publicize through Hollywood films, and provide giveaways to potential customers. This is the main reason for the shrinking market share in the market since most smart phone users originate from this segment of the market. It has four divisions: operations, supporting services, (which lumps together finance and accounts, estates management like maintenance, security, porters and catering, internal information technology and personnel services information technology services and marketing and sales. During the past two decades, the aerospace sector witnessed the proliferation of no-frills airlines which provides transport services at lower cost. The results showed by the simulation were that the parameters of Product Style and Design and Product Uniqueness were not appropriately selected. The company currently controls 40 of this oligopoly marketplace.
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The using perceptual maps in marketing simulation essay companys target marketis the high end market composed of customer between the ages of 35-50 years old. In this industry firms have been highly dependent on using image to attract customers. The company showcased in the simulation was called Thorr Motorcycles Inc. The company is dedicated to manufacturing motorcycles. Besides this, the results of the decision of repositioning the brand of Cruiser Thor or introducing a whole new product line will also be discussed. Showed next 250 characters If you cannot find any suitable paper on our site, which happens very rarely, you can always order custom written paper which will be written from scratch by our professional writers and deliver to you on requested time. FAQ Blog New Essays Essays Miscellaneous The Newest Essay Topics Index samples by all dates Join us: Copyright StudentShare. Recommended Solution The solution was to launch a separate product line under the brand of RRoth with low prices, more financial services, unique design and the quality persistent with Thorrs image. Today, a heavyweight powerful cruisers cost 25,000 (University of Phoenix, 2013). The simulation helped to construct and use a perceptual map in order to create an effective marketing plan for the motorcycle brand. 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. The product of a life cycle is describing the phases of new.