Using Perceptual Maps In Marketing Simulation Summary

Using Perceptual Maps in Marketing Simulation Summary
MKT/421
September 19, 2013
Using Perceptual maps in Marketing Simulation In the University of Phoenix simulation Thorr Motorcycles, Inc. is a $5 Billion company, which offers the consumer many styles of motorcycles and they produce more than 200,000 units per year. They sell everything from t-shirts to toys and leather accessories. In each of the three major phases in using perceptual maps in marketing simulation which are the perceptual map, Revving up the Market/introduce a new product or reposition the existing product and Thundering Success/the market research results after each year I will describe the following. I will describe the situation for each phase,
The price for the new Thorr RRoth would be between $13,500 and $15,000. Thorr would sponsor events such as Daytona Bike Week to draw a crowd to market the new RRoth. Also we would hire celebrity endorsers to endorse the motorcycle. Young people believe in what celebrities endorse and the younger crowd believes in them. We would also publicize through Hollywood films. If anyone knows how to glamourize a product it is Hollywood. Distributing the new RRoth is vital to the life of Thorr. Having local distributors selling Thorr products is a great way for people to come in and see what Thorr motorcycles are about. The internet is where the young people go on a daily basis to get the information they need. Offering training dealers is very important on selling Thorr motorcycles. Motor cycle enthusiast love to customize their motorcycles in order make their own, offering this option is very important. Financial Services are what the young people want they are asking for it. Thorr has concentrated on making RRoth it more fuel efficient. Also they are concentrating on the younger customer with a positive price impact. Thorr is also going to make it more youthful and cool. Having a motorcycle like RRoth geared toward younger people is the right way to go for Thorr motorcycles and offering a reasonable price for a high quality
I assigned a value of nine to CruiserThorr and a value of eight to RRoth, customers love the RRoth and consider it a status symbol. Quality engineering is considered at Thorr to be the best. CruiserThorr is highly admired and RRoth with its fuel efficiency has also garnered high praise. Price at Thorr for the cruiser is high and has a customer base. The RRoth was introduced for the younger generation and also offered youthfulness about it. For price I gave ThorCruiser a value of five and RRoth a value of nine. For service offerings I gave ThorrCruiser a value of seven and RRoth a value of nine. The bottom line is there was not a market for the young crowd and Thorr met that