Thorr Motors Simulation
Thorr Motors Simulation
Heather Sanchez
MKT/421
July 20, 2011
Theodore Framan
Perceptual maps help to improve a company’s current product on the market by mapping consumer expectation of the product. The motorcycle company Thorr Motors perceptual maps were used to create a marketing plan to aid in maintaining a high brand image of their motorcycles. This paper is based on the three phases in the Thorr Motors simulation. The situation, recommended solutions, and result for each phase will be discussed. Lastly, the different marketing components addressed in the simulation will be summarized.
Phase I
Sales of the Cruiser Thorr are decreasing. The decrease is because the Cruiser Thorr’s target consumers are aging and their tastes have begun to outgrow the lifestyle that Cruiser Thorr symbolizes. Another issue is that younger consumers are more interested in lower priced motorcycles because of their lower personal disposable incomes and they do not identify with Cruiser Thorr’s lifestyle image. This scenario wanted to determine the Cruiser Thor’s position in the market by choosing four relevant parameters that will reflect the highest potential.
For phase I the parameters chosen were lifestyle image, services offered, price, and quality engineering. Lifestyle image was chosen because the image for the Cruiser Thorr was becoming outgrown by the aging target audience and was not identifiable with younger consumers. The Cruiser Thorr’s lifestyle image is set very high so any vital information gathered will be highly useful to maintain that level of image that satisfies both an older and younger audience. Another parameter chosen was service. This parameter was chosen because compared to their competitors the services offered by the Cruiser Thorr are limited. The more frills a product comes with, the more it may heighten the desire for it. Price was the third parameter that was chosen. Price was chosen because for many consumers price is one of the most
Heather Sanchez
MKT/421
July 20, 2011
Theodore Framan
Perceptual maps help to improve a company’s current product on the market by mapping consumer expectation of the product. The motorcycle company Thorr Motors perceptual maps were used to create a marketing plan to aid in maintaining a high brand image of their motorcycles. This paper is based on the three phases in the Thorr Motors simulation. The situation, recommended solutions, and result for each phase will be discussed. Lastly, the different marketing components addressed in the simulation will be summarized.
Phase I
Sales of the Cruiser Thorr are decreasing. The decrease is because the Cruiser Thorr’s target consumers are aging and their tastes have begun to outgrow the lifestyle that Cruiser Thorr symbolizes. Another issue is that younger consumers are more interested in lower priced motorcycles because of their lower personal disposable incomes and they do not identify with Cruiser Thorr’s lifestyle image. This scenario wanted to determine the Cruiser Thor’s position in the market by choosing four relevant parameters that will reflect the highest potential.
For phase I the parameters chosen were lifestyle image, services offered, price, and quality engineering. Lifestyle image was chosen because the image for the Cruiser Thorr was becoming outgrown by the aging target audience and was not identifiable with younger consumers. The Cruiser Thorr’s lifestyle image is set very high so any vital information gathered will be highly useful to maintain that level of image that satisfies both an older and younger audience. Another parameter chosen was service. This parameter was chosen because compared to their competitors the services offered by the Cruiser Thorr are limited. The more frills a product comes with, the more it may heighten the desire for it. Price was the third parameter that was chosen. Price was chosen because for many consumers price is one of the most
References: Differentiation. (n.d.). Retrieved July 20, 2011 from http://www.investopedia.com/terms/p/product_differentiation.asp Lake, L. (n.d.). Product Positioning Definition. Retrieved July 20, 2011from http://marketing.about.com/od/marketingglossary/g/prodpostdef.htm Perreault, W. C. (2009). Basic Marketing: A marketing strategy planning approach (17th ed. . New York, NY: Mcgraw Hill. Simulation, MKT421-Marketing Website: https://mycampus.phoenix.edu/secure/resource/vendors/tata/UBAMsims/general_marketing/general_marketing_perceptual_maps_simulation.html