Perceptual Maps
Using Perceptual Maps in Marketing Simulation
Janice JohnsonMKT/421
June 5, 2013
Using Perceptual Maps in Marketing Simulation While reading this paper the reader will get a summary of the three major phases from using Perceptual Maps in Marketing Simulation. The phase will be the situation, a recommend solution and the reason why it was chosen, and the results. The relationship between differentiation and positioning will be discussed and whether or not if the repositioning of the product is what I expected it to be. The effect of the product life cycle on marketing is stated in the paper.
Situation
Cruiser Thorr is a company that manufactures different types of motorcycles and they are looking for someone to fill the position of a Marketing Manager. Thorr has hired me to join their team to give a better perspective on formulating a positioning strategy. My job will be to construct a perceptual map and began by picking the parameters. The parameters are those that will keep satisfying customers coming back and also making a profit. A perceptual map can be used to collect research and data that will give the organization some inputs on how to set up their marketing plan and also make available their strengths and weaknesses. The team in which I will be joining consist of the CEO Benjamin Bao, Chief Engineer Chris Winters, and Vice President Meredith Killgore. The situation that I will be facing is Cruiser Thorr offers a high brand of quality products and they are currently targeting males between the ages of 35 to 50. A recent study shows that the males among the age 35 to 50 are no looking for these products to enhance their lifestyle. So now Thorr will like to reach out to consumers who are in the age range of 21 to 35, but for them to do this they would have to decrease their prices. The reason why they will have to reduce their prices is because the younger consumers are in a lower income bracket than then individuals who they use
Janice JohnsonMKT/421
June 5, 2013
Using Perceptual Maps in Marketing Simulation While reading this paper the reader will get a summary of the three major phases from using Perceptual Maps in Marketing Simulation. The phase will be the situation, a recommend solution and the reason why it was chosen, and the results. The relationship between differentiation and positioning will be discussed and whether or not if the repositioning of the product is what I expected it to be. The effect of the product life cycle on marketing is stated in the paper.
Situation
Cruiser Thorr is a company that manufactures different types of motorcycles and they are looking for someone to fill the position of a Marketing Manager. Thorr has hired me to join their team to give a better perspective on formulating a positioning strategy. My job will be to construct a perceptual map and began by picking the parameters. The parameters are those that will keep satisfying customers coming back and also making a profit. A perceptual map can be used to collect research and data that will give the organization some inputs on how to set up their marketing plan and also make available their strengths and weaknesses. The team in which I will be joining consist of the CEO Benjamin Bao, Chief Engineer Chris Winters, and Vice President Meredith Killgore. The situation that I will be facing is Cruiser Thorr offers a high brand of quality products and they are currently targeting males between the ages of 35 to 50. A recent study shows that the males among the age 35 to 50 are no looking for these products to enhance their lifestyle. So now Thorr will like to reach out to consumers who are in the age range of 21 to 35, but for them to do this they would have to decrease their prices. The reason why they will have to reduce their prices is because the younger consumers are in a lower income bracket than then individuals who they use
References: Perreault, W., & McCarthy, J. (2009). A Marketing Strategy Planning Approach (18th Ed.). New York, NY: McGraw-Hill.