Perceptual Maps in Marketing Simulation Summary Essay

Perceptual maps help to repair a companys current ingathering on the market by mapping consumer first moment of the point of intersection. The pedal company Thorr Motors perceptual maps were used to hold a selling plan to aid in haveing a high grade image of their motor round of drinkss. The merchandising Dictionary defines perceptual maps as a cultivate by which consumers perceptions of an existing output argon charted (n.d., para. 1). In this paper the three phases of the simulation, the situation, recommended solution, and results leave be discussed. In profit thither lead be a discussion on human human relationship between preeminence and positioning of products or serve and the impact of the product life cycle on marketing.Phase I (201)Sales of the squad car Thorr are decreasing. This is so because the Cruiser Thorrs entirelyt end consumers are senescence and their tastes have begun to grow the modus vivendi that Cruiser Thorr symbolizes. In addition to t his issue, young consumers are more(prenominal) interested in visit priced motorcycles due to their refuse personal disposable incomes and they do non indentify with Cruiser Thorrs lifestyle image. This scenario wanted to determine the Cruiser Thors position in the market by choosing four relevant tilts that will reflect the highest potential.For phase I the parameters that were elect were lifestyle image, go killered, price, and quality locomotiveering. Lifestyle image was elect since the image for the Cruiser Thorr was being turn upgrown by the aging target consultation and was not identifiable with young consumers. Since the Cruiser Thorrs lifestyle image is castigate very high any vital teaching gathered will be highly effectual to maintain that level of image so that it satisfies twain an older and younger audience. service offered was another parameter elect because compared to their competitors the serve offered by the Cruiser Thorr are limited. The mor e frills a product comes with, the more it may heighten the desire for it.The third parameter that was elect was price. Price was chosen because for umteen consumers price is single of the almost important factors in making a buying decision. Furthermore, it was stated ahead that younger consumers were more interested in lower priced motorcycles. Finding step up how much is too much as comfortably as how low can you go without diluting stigmatize image will be important in determining theappropriate price tag to start out consumer interest. The last parameter chosen was quality engineering. This was chosen because of the fact that the Cruiser Thorr will not be able to maintain a high place image without this feature (University of Phoenix, 2004).The decision to use lifestyle image, services offered, price, and quality engineering were the appropriate parameters to use. The parameters that were chosen were fundamental to the perceptual map and gave the best situation as op posed to the other options.Phase IIThe position of the Cruiser Thorr is determined by the perceptual map and this position has not helped sales. This scenario calls for the marketing coach to create a marketing plan that will either reposition the Cruiser Thorr or entrap a new motorcycle. Upon researching threats and weaknesses of Thorr Motorcycles, the decision was made to steep a new motorcycle, the RRoth, which will grab the direction of younger consumers.With the new engross the marketing integ evaluate occupyed to be determined. The price for the new RRoth was fix between $13,000 and $15,000. This price range was chosen because earlier surveys conducted showed that the younger consumers were more interested in lower priced motorcycles. The types of promotions chosen were sponsored events at Daytona, offering insurance and tribute plans, free test rides, publicize through Hollywood films, and providing giveaway merchandise. These were all chosen because of the high kee p down of appeal these types of promotional methods would have on younger consumers.The places chosen to promote the RRoth were the internet (Manufacturers net site), Dealers, and Distributors. These options were chosen because of the accessibility to younger consumers, especially the internet. The services chosen were training to dealers, customization options, and financial services. Training to dealers was chosen so that the dealers can provide detailed and absolute information about the products sold. Customization options were chosen because this would add to the calm and youthful image of the RRoth. Financial services were chosen because the younger consumers indicated an interest in financing options.Choosing to launch a new motorcycle turned out to be a good decision. The marketing mix options chosen were the most optimal for the formulation of a differentiation strategy.Phase IIIIt has been a grade since the marketing plan was implemented and it is now metre to determ ine if the plans have or have not been a success. Consumer perceptions of the Cruiser Thorr and the RRoth have been surveyed and a perceptual map will show whether or not the marketing activities have been a success. The marketing carriage has to interpret market research to plot brand attributes of Cruiser Thorr. In addition, attributes relevant to the RRoth need to be chosen and interpreted to create RRoths perceptual map.The Cruiser Thorr was rated in lifestyle image at 9 because initially this was rated very high. A clubhouse would be most appropriate. For price a rate of 4 was chosen because consumers saw this particular motorcycle as pricey compared to other brands. A pass judgment of 4 or 5 would be appropriate. Services offered are rated at a 7 because services for the Cruiser Thorr is limited compared to competitors but were vamp uped because of consumer response. A valuation of 7 is most appropriate.Quality engineering was rated at 8 because consumers think that Cruis er Thorrs engine is the best. A military rating of 8 is very appropriate. The RRoth was rated at a 7 for lifestyle image because same other Thorr motorcycles consumers are already considering it a positioning symbol. The rating chosen was the appropriate choice. Price was rated at 8 because the RRoth is cheaper than the Cruiser Thorr in order to target a younger consumer. An 8 rating is appropriate. dispassionate was chosen for the RRoth because of the younger audience and a rating of 8 was chosen. A rating of 8 was most appropriate.Relationship between differentiation and positioning of products or servicesDifferentiation of product is according to Investopedia a marketing butt that showcases the differences between products (Investopedia, .n.d., para. 1). localisation of products is the consumer perception of a product or service as compared to its competition (Lake, n.d., para. 1). The relationship is that in order for a company to be a leader in that particular industriousn ess not only do they have to key out themselves fromthe competition, but they must also furbish up a position in the market that when consumers needs need to be met, that company will be chip one on the list in consumers minds.The repositioning of the product in the simulation is what I had expected. It was expected because one of the main issues was the changing perceptions of the consumers and there was nothing wrong with the physical product. Tastes were changing but the product was still of high quality. Like many companies they offered a fresh new product and for Thorr Motorcycles this attracted younger consumers. But they did not totally scrap efforts on the Cruiser Thorr and worked on revamping the image.Product Life musical rhythmThe impact the product life cycle has on marketing is that business need to plan their products almost the product life cycle. Knowing where the product is on the cycle, marketing strategies can be adjusted to maintain profitability. A particul ar firms marketing mix usually must change during the product life cycle (Perreault et al, 2004, pg. 270). In the simulation the Cruiser Thorr was in the make up stage of the life cycle as their sales were declining rapidly. The declining sales were because the older audiences tastes were outgrowing the Cruiser Thorr and younger consumers were put off by the high price. Because Cruiser Thorr was in decline stage, a new motorcycle, the RRoth was introduced to the life cycle and aimed at a different target group to revamp sales and consumer perception.ConclusionThe perceptual map helped to determine consumer expectations for Thorr Motorcycles. detailed parameters were determined to hone in on scarcely what they wanted and expected from the company. This ultimately is what enabled Thorr Motorcycles to reposition consumer perceptions fundament to where Thorr motors wanted. In this paper the three phases of the simulation, the situation, recommended solution, and results were discuss ed. In addition there was a discussion on relationship between differentiation and positioning of products or services and the impact of the product life cycle on marketing.ReferencesDifferentiation. (n.d.). Definition. Retrieved on February 16, 2008from,http//www.investopedia.com/terms/p/product_differentiation.aspLake, L. (n.d.). Product Positioning Definition. Retrieved on February 16, 2008 from,http//marketing.about.com/od/marketingglossary/g/prodpostdef.htmPerceptual mapping. (n.d.). Dictionary of marketing Terms. Retrieved February 16,2008, from Answers.com Web sitehttp//www.answers.com/topic/perceptual-mappingPerreault, W.D., & McCarthy, E.J. (2004). Basic trade A Global-ManagerialApproach. McGraw-Hill CompaniesUniversity of Phoenix. (2006). General Marketing. Retrieved February 16, 2008, fromUniversity of Phoenix, Resource, Simulation, MKT421-Marketing Web sitehttps//mycampus.phoenix.edu/secure/resource/vendors/tata/UBAMsims/general_marketing/general_marketing_perceptual_m aps_simulation.html