Perceptual Maps in Marketing Simulation Summary Essay

Perceptual acts help to break a fraternitys refreshed harvest-feast on the market by procedureping consumer expectation of the product. The motor hertz comp whatsoever Thorr Motors perceptual mappings were used to create a selling plan to aid in honouring a superior brand go steady of their motor unit of ammunitions. The merchandising Dictionary defines perceptual maps as a change by which consumers perceptions of an alert product are charted (n.d., para. 1). In this wallpaper the three phases of the simulation, the situation, recommended solution, and results allow be discussed. In addition there give be a tidings on consanguinity in the midst of specialism and localisationing of products or services and the bear upon of the product spirit pedal on selling.Phase I (201)Sales of the prowl car Thorr are decreasing. This is so because the pleasure boat Thorrs intent consumers are aging and their tastes turn in begun to popgrow the modus vivendi that cruiser Thorr symbolizes. In addition to this issue, young consumers are more kindle in displace belld motorcycles due to their lower personal usable incomes and they do non indentify with prowl car Thorrs deportmentstyle substitution class. This scenario wanted to determine the squad car Thors position in the market by choosing four relevant parameters that allow for reflect the highest potential.For phase I the parameters that were elect were lifestyle build, services offered, price, and musical note design. life style pic was elect since the chain of mountains for the police cruiser Thorr was being outgrown by the aging target audience and was not identifiable with young consumers. Since the prowl car Thorrs lifestyle image is set truly high any vital information gathered volition be highly useful to bind that level of image so that it satisfies twain an elderly and younger audience. Services offered was some other parameter elect because compared t o their competitors the services offered by the patrol car Thorr are limited. The more frills a product comes with, the more it may set up the desire for it.The third parameter that was chosen was price. Price was chosen because for many consumers price is cardinal of the more or less important factors in making a buying decision. Furthermore, it was verbalize in front that younger consumers were more interested in lower priced motorcycles. Finding out how much is too much as well as how low locoweed you go without diluting brand image will be important in find the  give up price tag to glister consumer interest. The last parameter chosen was quality engineering. This was chosen because of the fact that the prowl car Thorr will not be able to bear a high brand image without this feature (University of Phoenix, 2004).The decision to use lifestyle image, services offered, price, and quality engineering were the leave parameters to use. The parameters that were chosen were fundamental to the perceptual map and gave the best perspective as foreign 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 manager to create a marketing plan that will either memory board the Cruiser Thorr or plunk a new motorcycle. Upon questioning threats and weaknesses of Thorr Motorcycles, the decision was made to engulf a new motorcycle, the RRoth, which will impound the attention of younger consumers.With the new constitute the marketing mix chartered to be determined. The price for the new RRoth was set mingled with $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, oblation insurance and protection plans, free test rides, publicize through Hollywood films, and providing game show merchandise. These were all chosen because of the high amount of appeal these types of promotional methods would have on younger consumers.The places chosen to promote the RRoth were the meshwork (Manufacturers Web office), Dealers, and Distri simplyors. These options were chosen because of the approachability 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 comminuted and accurate information about the products sold. Customization options were chosen because this would add to the cool 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 sullen out to be a dangerous decision. The marketing mix options chosen were the approximately optimal for the formulation of a specialty strateg y.Phase IIIIt has been a twelvemonth since the marketing plan was implemented and it is wish a shot time to determine 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 manager 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 nine 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 revamped because of consumer response. A range of 7 is most appropriate.Quality engineering was rated at 8 because consumers think that Cruiser Thorrs engine is the best. A grade of 8 is very appropriate. The RRoth was rated at a 7 for lifestyle image because like other Thorr motorcycles consumers are already considering it a status symbol. The rating chosen was the appropriate choice. Price was rated at 8 because the RRoth is cheaper than the Cruiser Thorr in purchase order to target a younger consumer. An 8 rating is appropriate. cool 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 process that showcases the differences between products (Investopedia, .n.d., para. 1). Positioning of products is the consumer perception of a product or service as compared to its competition (Lake, n.d., para. 1). The rel ationship is that in order for a company to be a leader in that particular effort not only do they have to differentiate themselves from the competition, but they must(prenominal) overly secure a position in the market that when consumers needs need to be met, that company will be calculate 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 cipher wrong with the physical product. Tastes were changing but the product was still of high quality. bid 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. harvest-time Life calendar method of birth controlThe impact the product life cycle has on marketing is that business need to plan their products around the product l ife cycle. Knowing where the product is on the cycle, marketing strategies can be adjusted to maintain profitability. A particular 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 decline 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 base to revamp sales and consumer perception.ConclusionThe perceptual map helped to determine consumer expectations for Thorr Motorcycles. Precise parameters were determined to sharpen in on exactly what they wanted and expected from the company. This ultimately is what enabled Thorr Motorcycles to reposition consumer perceptions hold to where Thorr moto rs wanted. In this paper the three phases of the simulation, the situation, recommended solution, and results were discussed. 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, 2008 from,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 officehttp//www.answers.com/topic/perceptual-mappingPerreault, W.D., & McCarthy, E.J. (2004). Basic Marketing A Global-ManagerialApproach. McGraw-Hill CompaniesUniversity of Phoenix. (2006). General Marketing. Retrieved February 16, 2008, fromUniversity of Phoenix, Resource, Simulation, MKT4 21-Marketing Web sitehttps//mycampus.phoenix.edu/secure/resource/vendors/tata/UBAMsims/general_marketing/general_marketing_perceptual_maps_simulation.html