Perceptual Map Marketing Essay

The purpose of this document is to illustrate the information contained within the Perceptual symbolize Marketing show and relate to its information as concrete and important. Contained in the computer framework were three phases, each of epoch- fashioning importance. We leave include in this document the smear, the recommended solutions and the results.We provide discuss the multiple marketing aspects that were revealed within the simulation and we go forth attempt to pull out believe satisfactory responses to the motley questions which arise out of the relationships among differentiation and localization of proceedss or suffices and what the impact of the product tone cycle on marketing is. It is the trust that aft(prenominal) reading this document there entrust be a clear concept of what the results of this simulation were and how they atomic number 18 applicable to the papers mission. All ethical things give way a story and cruiser Thorr was no exception .We learned astir(predicate) the meaning behind the roulette wheel. The simulation showed how to create and use a perceptual represent using the wheel around as a prime example. When using the Perceptual Map it then became intelligibly more evident which direction the marketing goals should labor to carry on its back the nerve and soul of the Morotcycle brand. In merchandising thousands of motorcycles a social class the Thorr Motocycle company has created a client base resourceful of supporting their imense variety of choice that is given to the consumer. Everything from the theatrical role of engine to how many sight can travel the motor roulette wheel.They sell accessories such as protective gear, habiliments and even little models for children. The services they offer to their customers argon that you would expect from a first rate bike shop. Our task is to set up a position strategy, a perceptual map and create the parameters that exit become vital to the produ ct as it will be the customers only information before making a major purchase. For decades now the industry of mechanized bikes concord been on the ries. Even with this evident justness backed by consumer research the top selling item that Thorr Motorcycles is creating seems to be dwindeling.The logical conclusion that we ar coming to to is that their tar put down customers ar in the decades of their 30s savings bank almost 60s and through the proccess of livelihood seem to arouse lost interests in what Thorr stands for. No longer atomic number 18 these men rebels or out to be state of nature as Steppenwolf would say. Any consumers who be younger are simply non capable of affording the uplifted equipment casualty tag associated with a Thorr bike which ranges in the high 20 to low 30 thousand dollar range. Younger modelrs are more apt to cloud less expensive, quicker riding bikes that are the occupy opposite of the image that Thorr stands for.We are going to cha nge integrity Cruiser thorrs postion in the market by creating its Perceptual map. There are four basic parameters that are relevant to the entire schema of biking industry which reflect the highest chances for Cruiser Thorrs survival. These are the four parameters lifestyle image, product design and styling, service offerings, and wrong. The selection of lifestyle image is almost a no brainer as it is the backbone of the Cruiser Thorrs previous success. The entire bikes halcyon record is built upon a reputation that having their bike is a status symbol.The identical reason that people buy Starbucks instead of simply brewing their induce coffee at home. Unlike other industries, expat specfically speaks to the identity of the person who has the item. They will spend a lot of their time utilizing their vehicle. In no vehicle type is this more relevant than in bikes where people will see the bike and there will be no windows, walls, or doors hiding the rider from the world. Eve ryone will see who the rder is and that is why Product Design nd Styling are so vital to its success. The bike and the rider are one.Man and machine woful along the pavement together. The service offerings are likely the most second important aspect to a vehicle other than the price. Maintanence and such can get very expensive very chop-chop. Assuring that you are taking care of you customers and looking out for their fountainhead being is primary in the grand final cause of all things. At the end of the model of fertilize is always the most important aspect. Cost and price. The price is affected by many, many things. Among these things is engineering, construction, materials, labor, transport of the bike itself.The whole purpose for this bikes realizeledgeableness is ot involve money. To make money you must have a clear marketing plan. Due to this writ large fact we have restructured Cruiser Thorr and decided to not create a new bike. It is imperative to donjon the Cruis er Thorr in production if Thorr is going to postponement making motorcycles. It is the bike that has built their empire. It would be as if Levis stopped selling 501 Jeans. We instead create a financing option that gives the consumers with less money an opportunity to own a Cruiser Thorr.With increase service options will be able to make rational sense of the high price that we will be able to keep at the same price. For advertising it would probably be a good conceit to put some endorsements in flow tracks, hook up with a popular racket brand like MONSTER and maybe make a Monster Bike that can ride around. We can also take a scalawag out of the GM book and put our bikes into movies and on television for product placement. The current straegy is based on price, product, location, current pomotions and services offered.With the goal of repositioning the product in an attempt to remove the competions hold on the market because we will move the parameters into concurrent thought fo rms and proccesses making us and our strategies the same as the competition. We know that there are four bring up factors that are represented by stages in a products life cycle that are important for the marketing ships officer to know and understand. The four stages introduction, growth, adulthood and decline. Once a product reaches the stage of its full maturity it is time to revisit it with the hope of making improvements.If this is not done the product will very quickly enter the declining stages of its life cycle. This is the reason that Cruiser Thorr started to drop its sales figure. Their product had reached its maturity. Their current customers were old and any knew ones had no idea what Cruiser Thorr, the brand, stood for. For this reason we had to reinven and improve their bikes. It was necessary to compete. It is the hope that we have together reached and addressed the various key points necessary to form a graps of the information that was provided. We have described the three major phases in the simulation.The situation and the recommended solutions have been addressed along with what our results were. We have talked about the different marketing aspects and answered the different question sthat were arisen between the relationships of differentiation and positioning for each of the products and services and its impact. It was the desire of I to create a whole understanding of the purpose and use of Perceptual Maps in Marketing. References All information was taken from the Perceptual Map Marketing Simulation provided on the University of Phoenix website.