Using Perceptual Maps in Marketing - Simulation
This assignment is written in fulfillment of the MKT/421 class at the University of Phoenix. The assignment calls for covering each of the three major phases in the simulation and to describe: * The situation
* Recommended solutions and why
* Show what is the relationship between differentiation and positioning of the product for Thorr Cruiser and is the repositioning of the product in the simulation as I have expected it to be. Also highlight what was the effect of the product life cycle, and what effect did the product life cycle have on the product in the simulation. * The Situation
* Thorr Motorcycle Inc. is a $5 billion dollar company that manufactures a wide range of motorcycles along with logoed and relevant merchandise including helmets, toys, leather goods, shoes and other products. * The overall motorcycle industry has been growing but Thorr has seen a decline for the Cruiser Thorr motorcycle which is a 1500cc cruiser priced at $25,800 starting. The goal is to reverse this trend by first ascertaining Cruiser Thorrs’ current market position and then developing a new marketing plan. * Differentiation and Positioning
* Cruiser Thorr prides itself on having superior engine design and with its high ticket cost to purchase really caters to the high end of the market when it comes to motorcycle riders. It is the main differentiator that makes Thorr stand out from its competitors. * Because of that it also positions itself well in the high end market with its limited services one that owns a Cruiser Thorr must also have the resources to maintaining it. This is where Thorr Motorcycle is positioned well for the 35 to 50 year old age group. Someone considered to be at mid-life and financially stable would not want to be associated with someone much younger with fewer resources available...