Using Perceptual Maps in a Marketing Simulation

Using Perceptual Maps In A Marketing Simulation

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MKT 421

Introduction

This paper will discuss the simulation that was completed on THORR Motorcycles. For each of the three phases in the simulation each of the following will be described: the situation, this authors recommended solutions, and this authors results will be discussed. Then there will be a summarization of things such as what the relationship is between differentiation and positioning of products and services, and whether the repositioning of the product in the simulation turned out how this author thought it would. Last, the effect of the product life cycle on marketing will be the topic.

Perceptual Maps in Marketing Simulation

Thorr motorcycles is basically a five billion dollar a year industry that manufactures more expensive motorcycles. Thorr's yearly production is around 200,000 productions. Thorr motorcycles also indorses things such as motorcycle shoes, shirts, leather products, and many other various items. There are also many different services that Thorr offers. Some of these services include renting motorcycles, training individuals to ride properly, and dealer software packages and training.

In the year 2001, the sale of Thorr's "Cruiser" model had sales declines even though the industry for motorcycles grew that particular year. The main issues with this are the fact that the target customers are aging and may be having trouble identifying with the lifestyle that the cruiser represents. Also, younger customers, (aged 21-35) are on limited budgets and may prefer

to purchase motorcycles that are not as expensive. A perceptual map, is basically a visual representation of the customers thoughts of the brand.

Thorr Cruiser

The first part of the simulation was an assessment. For example, a survey that was completed using men in between the ages of 20 and 50 showed that...