Perceptual Maps in Marketing Simulation Summary Essay

Perceptual maps help to improve a clubs current intersection on the commercialize by represent consumer expectation of the product. The motor calendar method of birth control compe rattling Thorr Motors perceptual maps were employd to create a market plan to aid in harboring a proud patsy range of a function of their motorcycles. The merchandise Dictionary defines perceptual maps as a service by which consumers perceptions of an existing product are charted (n.d., para. 1). In this paper the genius-third phases of the simulation, the situation, recommended solution, and results leave alone be discussed. In addition at that place will be a discussion on relationship betwixt differentiation and attitude of products or services and the impact of the product feel cycle on marketing.Phase I (201)Sales of the pleasure craft Thorr are decreasing. This is so because the police cruiser Thorrs target consumers are aging and their tastes shake begun to disclosegrow the li venessstyle that patrol car Thorr symbolizes. In addition to this issue, jr. consumers are more than interested in lower scathed motorcycles due to their lower personal disposable incomes and they do non indentify with prowl car Thorrs lifestyle image. This scenario wanted to retard the squad car Thors position in the market by choosing four relevant parameters that will reflect the highest potential.For phase I the parameters that were elect were lifestyle image, services offered, price, and fictional character locomotiveering. Lifestyle image was chosen since the image for the patrol car Thorr was being outgrown by the aging target audition and was non identifiable with younger consumers. Since the Cruiser Thorrs lifestyle image is raise very high any vital information gathered will be highly useable to maintain that level of image so that it satisfies both an older and younger audience. Services offered was anformer(a) parameter chosen because compared to their compet itors the services offered by the Cruiser Thorr are limited. The more frills a product comes with, the more it may grow the desire for it.The third parameter that was chosen was price. Price was chosen because for legion(predicate) consumers price is one of the nearly important factors in making a buying decision. Furthermore, it was stated earlier that younger consumers were more interested in lower priced motorcycles. Finding out how much is too much as well as how low shadow you go without diluting brand image will be important in determining theappropriate price tag to spark consumer interest. The last parameter chosen was quality engineering. This was chosen because of the fact that the Cruiser Thorr will not be able to maintain a high brand image without this feature (University of Phoenix, 2004).The decision to use lifestyle image, services offered, price, and quality engineering were the appropriate parameters to use. The parameters that were chosen were essential to th e perceptual map and gave the best perspective as opposed to the other options.Phase IIThe position of the Cruiser Thorr is determined by the perceptual map and this position has not helped gross sales. This scenario calls for the marketing manager to create a marketing plan that will either reposition the Cruiser Thorr or impel a new motorcycle. Upon researching threats and weaknesses of Thorr Motorcycles, the decision was made to launch a new motorcycle, the RRoth, which will grab the attention of younger consumers.With the new launch the marketing mix directed to be determined. The price for the new RRoth was set between $13,000 and $15,000. This price range was chosen because earlier surveys conducted showed that the younger consumers were more interested in lower priced motorcycles. The types of promotions chosen were sponsored events at Daytona, offering policy and protection plans, free test rides, publicize through Hollywood films, and providing giveaway merchandise. The se were all chosen because of the high amount of appeal these types of promotional methods would watch on younger consumers.The places chosen to promote the RRoth were the internet (Manufacturers electronic network site), Dealers, and Distributors. These options were chosen because of the accessibility to younger consumers, especially the internet. The services chosen were preparedness to dealers, customization options, and financial services. Training to dealers was chosen so that the dealers can provide exposit and accu graze information about the products sold. Customization options were chosen because this would add to the cool and youthful image of the RRoth. Financial services were chosen because the younger consumers indicated an interest in financing options.Choosing to launch a new motorcycle turned out to be a good decision. The marketing mix options chosen were the most optimal for the formulation of a differentiation strategy.Phase IIIIt has been a year since the ma rketing plan was implemented and it is now time to determine if the plans have or have not been a success. Consumer perceptions of the Cruiser Thorr and the RRoth have been surveyed and a perceptual map will show whether or not the marketing activities have been a success. The marketing manager has to interpret market research to plot brand attributes of Cruiser Thorr. In addition, attributes relevant to the RRoth need to be chosen and interpreted to create RRoths perceptual map.The Cruiser Thorr was rated in lifestyle image at 9 because initially this was rated very high. A nine would be most appropriate. For price a rate of 4 was chosen because consumers saw this particular motorcycle as high-priced compared to other brands. A order of 4 or 5 would be appropriate. Services offered are rated at a 7 because services for the Cruiser Thorr is limited compared to competitors but were revamped because of consumer response. A rating of 7 is most appropriate. select engineering was rate d at 8 because consumers think that Cruiser Thorrs engine is the best. A rating of 8 is very appropriate. The RRoth was rated at a 7 for lifestyle image because like other Thorr motorcycles consumers are already considering it a status symbol. The rating chosen was the appropriate choice. Price was rated at 8 because the RRoth is cheaper than the Cruiser Thorr in order to target a younger consumer. An 8 rating is appropriate. Cool was chosen for the RRoth because of the younger audience and a rating of 8 was chosen. A rating of 8 was most appropriate.Relationship between differentiation and positioning of products or servicesDifferentiation of product is according to Investopedia a marketing process that showcases the differences between products (Investopedia, .n.d., para. 1). Positioning of products is the consumer perception of a product or service as compared to its competition (Lake, n.d., para. 1). The relationship is that in order for a company to be a leader in that particul ar industriousness not only do they have to differentiate themselves fromthe competition, but they mustiness also secure a position in the market that when consumers postulate need to be met, that company will be number one on the list in consumers minds.The repositioning of the product in the simulation is what I had expected. It was expected because one of the main issues was the changing perceptions of the consumers and there was nothing wrong with the physical product. Tastes were changing but the product was lock in of high quality. Like many companies they offered a fresh new product and for Thorr Motorcycles this attracted younger consumers. But they did not totally scrap efforts on the Cruiser Thorr and worked on revamping the image.Product Life CycleThe impact the product life cycle has on marketing is that business need to plan their products rough the product life cycle. Knowing where the product is on the cycle, marketing strategies can be adjusted to maintain profit ability. A particular firms marketing mix usually must change during the product life cycle (Perreault et al, 2004, pg. 270). In the simulation the Cruiser Thorr was in the decline map of the life cycle as their sales were declining rapidly. The declining sales were because the older audiences tastes were outgrowing the Cruiser Thorr and younger consumers were put off by the high price. Because Cruiser Thorr was in decline stage, a new motorcycle, the RRoth was introduced to the life cycle and aimed at a different target group to revamp sales and consumer perception.ConclusionThe perceptual map helped to determine consumer expectations for Thorr Motorcycles. Precise parameters were determined to hone in on exactly what they wanted and expected from the company. This ultimately is what enabled Thorr Motorcycles to reposition consumer perceptions nates to where Thorr motors wanted. In this paper the three phases of the simulation, the situation, recommended solution, and results wer e discussed. In addition there was a discussion on relationship between differentiation and positioning of products or services and the impact of the product life cycle on marketing.ReferencesDifferentiation. (n.d.). Definition. Retrieved on February 16, 2008from,http//www.investopedia.com/terms/p/product_differentiation.aspLake, L. (n.d.). Product Positioning Definition. Retrieved on February 16, 2008 from,http//marketing.about.com/od/marketingglossary/g/prodpostdef.htmPerceptual mapping. (n.d.). Dictionary of Marketing Terms. Retrieved February 16,2008, from Answers.com Web sitehttp//www.answers.com/topic/perceptual-mappingPerreault, W.D., & McCarthy, E.J. (2004). Basic Marketing A Global-ManagerialApproach. McGraw-Hill CompaniesUniversity of Phoenix. (2006). General Marketing. Retrieved February 16, 2008, fromUniversity of Phoenix, Resource, Simulation, MKT421-Marketing Web sitehttps//mycampus.phoenix.edu/secure/resource/vendors/tata/UBAMsims/general_marketing/general_marketing_p erceptual_maps_simulation.html