MKT 421 week 4

Topics: Marketing, Customer, Price Pages: 4 (1169 words) Published: January 24, 2014

Using Perceptual Maps in Marketing Simulation Summary
Inge Webster
January 18, 2014

Using Perceptual Maps in Marketing Simulation
Thorr Motorcycles is a manufacturer of different range of motorcycles, which carries a wide variety of products such as shoes and toys. The image portrayed from the company provides its customers the freedom, masculinity, and mobility of all its products. Thorr Motorcycles is a company that offers a variety of services with dealer training, dealer software, the rental of bikes, and also provides training for individuals that would like to learn how to ride. This organization believes highly of their brand and takes full advantage of the market in which they target for the sale of their products. The Situation

The situation is the number of particular motorcycle decreasing, the older customers that are targeted and basically losing interest in riding. The younger individuals that the company are targeting really cannot afford the higher priced motorcycles. While coming together to determine how the marketing strategy will push forward, offers changes the position within the company’s rather than bringing out a new model. Perceptual maps are used to compare attributes of products and services with the competitors to mark their position in the market and this is what Thorr motorcycles will use to find the attributes needed to reach customers again. Recommended Solutions

To position a strategy, steps must be taken to choose the proper fundamental parameters. First, lifestyle image is recommended. Lifestyle image plays an important role because it brings out the motorcycle’s uniqueness, capacity, design, and style. This attribute will capture customer’s attention toward the image. The second recommendation is quality engineering. Quality engineering is what covers every aspect of the motorcycles; for example, their design, style, engine capacity, uniqueness, and the quality of the...

References: Perreault, W. D., Cannon, J. P., & McCarthy, E. J., Jr. (2009). Basic marketing: A marketing strategy planning approach (17th ed.). New York, NY: McGraw Hill.
Perreault, W.D., & McCarthy, E.J. (2004). Basic Marketing. McGraw-Hill Companies University of Phoenix. (2006). General Marketing. Retrieved from: University of Phoenix Resource Simulation MKT421
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