Helping Others

In: People

Submitted By dontethorne49
Words 1049
Pages 5
Using perceptual maps in marketing simulations
Donte Thorne
MRK/421
April 5,2012
Ms. Fulton

Using perceptual maps in marketing simulations

Through visual representation of the consumer’s perception of brands perceptual maps help illustrate the distinctive positioning of a company and may also help with creation of a marketing plan. Many parameters can overlap superficial attributes of a specific product while other parameters define the products fundamental parameters. The fundamental parameter of Thorr Motorcycle’s perceptual map is a lifestyle image which highlights the motorcycle industry. The projected image of motorcycles assumes characteristics of masculinity, mobility, and freedom (University of Phoenix, 2008).
Thorr Motorcycles is a unique name that represents superiority and power. The number 1 product of the company CruiserThorr is the result effective marketing mix by positioning. In the week 4 simulation the CruiserThorr sales are rapidly declining there are many reasons for this decline in sales including service, price, and the products competition. The company Thorr Motorcycles needs to use the marketing mix and decide what actions need to be taken to reestablish the CruiserThorr to a competitive status within the market. There are two main options to do this the first is to reposition the product and the second is to introduce a unique and new motorcycle. The company has hired a new marketing manager and they are responsible for developing a marketing mix through the analysis of perceptual maps and market research.
In the first step in the Thorr simulation requires the company’s newly hired marketing manager to construct a perceptual map by deciding which parameters fit the needs of the consumer and the product. Products at Thorr Motorcycles are differentiated by price related to income, lifestyle appeal, and age groups because of this…...

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Helping

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