Marketing Essay

1445 words - 6 pages

Running head: USING PERCEPTUAL MAPS IN MARKETING

Using Perceptual Maps in Marketing Simulation
MKT/421

The Situation
Producing more than 200,000 “plus” units per year, Thorr Motorcycles, is a billion dollar manufacturing company. Thorr also offers such services as dealer training, dealer software packages, motorcycle rentals, and rider training, just to name a few. The image that CruiserThorr symbolizes is one of “masculinity, mobility, and freedom”. To gain insight in this positioning and reason Thorr is experiencing a decline in sales, Thorr can use representation of the consumer’s view of the product. Increase sales/profits, Thorr will need to change the consumer ...view middle of the document...

Phase II
The perceptual map revealed that Thorr’s current plan had not been improving motorcycle sales. Thorr must decide if they will reposition Cruiser Thorr or launch a new motorcycle, RRoth. Phase II provided a SWOT analysis, consumer preferences, income group, and financing requirements. The most valuable information used to make the decision would be that, which was based on our overall customer preference in which we need to focus on the ages of people from 25-35.
The marketing strategy chosen is to launch RRoth, given a budget of 13 million dollars, implement the new marketing plan. Promote RRoth by hiring celebrity endorsements, publicize through Hollywood films, sponsoring events such as Daytona, and offer insurance and protection plans. Promoting this product in films is a sure way of reaching countless consumers in the new targeted age bracket. Placement of the RRoth will be through dealers and the Manufacturer’s website via the Internet. The internet will allow consumers the best opportunity to view the product and its specifications. Finally, the services offered will include financial services, customization options, training to dealers, and club memberships. By providing consumers with financing options Thorr will be able to reach consumers who thought that owning a motorcycle was unaffordable. The company also will attract younger consumers by providing financing options and it does not significantly raise the expenditures for the company.
Phase III
Interpret Market Research discoveries on a perceptual map and choose attributes that are relevant to RRoth and use the findings to create RRoth’s perceptual map. CruiserThorr and RRoth attributes were surveyed; 350 men in [pic]the 25-55 year bracket were surveyed for their views of the motorcycle line.
Marketing research results for the CruiserThorr found that 37% intended on spending $13000-$15000 on a motorcycle. It was also apparent that 45% strongly agreed that training to dealers was an important factor. Having financial services and options available was important to 57% of the men surveyed, and 41% wanted more options in a motorcycle. 38% of the men surveyed believed that most of the services currently provided and offered by Cruiser Thorr needed to be augmented. When asked if all the services currently offered are satisfactory, 25% answered with a “strongly disagree”. Taking this information into account, it was recommended that the Lifestyle Image parameter be increased to a level nine, Price to level five, Quality Engineering to an eight, and Service Offerings to a level seven. The results returned positive feedback, and a correct placement of the perceptual map.
The recommended parameters chosen for RRoth were to increase Lifestyle Image to a level nine, Price to level eight, Quality Engineering to an eight, and Cool to a level eight. The results revealed adjusting Cool and Price to the aforementioned parameters was spot on. However, the Lifestyle Image...

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