November 27, 2012
Perceptual Maps and Marketing
Marketing a product will run a life cycle and will have to be re-evaluated and the marketing strategy and make some changes (General Marketing, 2012). The targeted market was not buying the motorcycle anymore, so the company had to change the market strategy and target a new market (General Marketing, 2012). Cruiser thorr had targeted the middle upper age group and will need target the younger age group, through the simulation the target market it evaluated, and changed. The change causes the younger age group to purchase the motorcycle. There was a two things that needed to be added to the marketing strategy such as service, and financing to entice the consumer to purchase the motorcycle (General Marketing, 2012). Cruiser thorr was targeting consumers between the age of 35 and 50 this target market is growing older, and no longer has an interest in riding motorcycles (General Marketing, 2012). Cruiser thorr is losing money, and can no longer stay on the competitive advantage when selling their motorcycles (General Marketing, 2012). The company will need to change the marketing strategy and target consumers that are in the younger age range between the ages of 21-35 to remain profitable (General Marketing, 2012). However, the younger age consumer prefers a cheaper motor cycle because they do not make that much money. The younger generation did not identify with the cruiser thorr lifestyle image that was created to draw the older consumer in (General Marketing, 2012). The competitors are taking over cruiser thorr business with the younger group of consumers. A new market strategy needed to be implemented to attract the younger consumer to purchase the cruiser thorr at the same price (General Marketing, 2012). The recommendation would be to keep the life-style image the same, and leave the price at $25,800 (General Marketing, 2012). If the...