Using Perceptual Maps in Marketing
Thorr Motorcycles, Inc. is a billion dollar manufacturing company, producing over 200,000 units per year. Additionally, Thorr offers services including dealer training, dealer software packages, motorcycle rentals and rider training. Thorr’s brand image is high, and it currently holds 40% of the market. This simulation asks students to take on the role of Marketing Manager. The first situation states that sales of the Cruiser Thorr are decreasing because target customers are aging and are no longer interested in the lifestyle portrayed by the Cruiser Thorr. Additionally, younger customers with smaller disposable incomes are looking for less expensive bikes. A new marketing plan is needed to reverse these trends. Students are asked to ascertain the market position of Cruiser Thorr using a perceptual map, selecting four fundamental parameters that are relevant to the industry and that reflect the highest potential for Cruiser Thorr. The four fundamental parameters that I selected were Lifestyle Image, Price, Quality Engineering and Cool. I chose three of four fundamental parameters. Instead of the Cool factor, I should have focused more on Services Offered. Services are simple but time-tested ways of ensuring customer loyalty and keeping dealers and distributers happy.
Situation two informs students that the perceptual map reveals Cruiser Thorr’s position in the market and that Thorr’s position has not been improving sales. The student must decide if he or she will enhance current positioning strategy or change the position completely. Students are tasked with creating a marketing plan that will either reposition Cruiser Thorr or launch a new motorcycle, RRoth. Students are given a budget of 13 million dollars to implement the new marketing plan. I spent $12,649,000 for the new marketing plan. My decision was to price the RRoth at $17,000 to $19,000, promote by offering insurance and protection plans, hiring celebrities for...
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