Using Perceptual Maps in Marketing Simulation Summary

This paper will talk about the situation of Cruiser Thorr Motorcycles, recommendations for solutions including the reasons for the suggested solutions, and the results. It will show the isolation and positioning of products or services. Furthermore, it will argue the effect of product life cycle on marketing and what effect it had on the product in simulation.

Perceptual Maps in Marketing - Legend of the Cruiser Thorr Motorcycles

Background of the Situation

Thorr Motorcycles manufactures 200,000 motorcycles per year. It is a successful $5 billion company. The company is too inventive in licensing T-shirts, leather goods, shoes, toys, and other consumer goods. Their high-end motorcycle is the Cruiser Thorr. Even though the industry is prospering, sales are declining for Thorr Motorcycles.

The Thorr Motorcycles are becoming classics - old and expensive. This brand appealed to the 35 to 50 year old groups, but now there is a solid decline in interest on this product. Younger generations don't have the income to obtain such a high-end motorcycle. It is key for The Cruiser Thorr to carry on, but the marketing strategy has to alter.

Recommended Solutions, Reasoning, and Results

To complete the simulation, the first step is to decide the market position of The Cruiser Thorr. The parameters involved in creating the Perceptual Map in Marketing are lifestyle image, product design and styling, cool, product uniqueness, service offerings, price, engine capacity, safety, and quality engineering. The four basic parameters are lifestyle image, product design and styling, product uniqueness, and price. The target market isn't that concerned with The Thorr because that generation is getting older. Lifestyle influences what people purchase and how people desire to live. Lifestyle image is what is most important in the motorcycle industry. How people will recognize your style.

Product design and styling is what attracts the consumer to the product. With motorcycles, engine capacity is a high point. Market research shows many things are a high point when it comes to motorcycles of all kinds and varieties; however, engine capacity is one of the highest. In the introduction phase of marketing a new product or spin-off, the "focused and intense marketing effort designed to establish a clear identity and promote maximum awareness (Fox, et al., 2011)." The image of The Thorr Motorcycle needs a face lift, an update to its products and design. When it becomes popular with the younger generation, other vendors will want to compete and this will power the profitability of The Thorr Motorcycle. The design must be the primary item altered to draw younger people to the product because reducing the price will only lower the true value of the motorcycle and then consumers will suppose its time is over for the bikes.

Product uniqueness would also be an improvement over other manufacturers. Young people like individuality and something that no other person has. Making a design and style that is plainly The Thorr Motorcycle's own is the aim. Price on the other hand needs to stay the as is.

The next step is deciding to launch an completely new product line or work with The Thorr Motorcycle and expand it into a product that has a real draw. The Thorr runs just about $13,000 to $15,000 in price. The younger customer love to pay a lower