In the following paragraphs of this paper will analyze and summarize the three major phases in week four's simulation, "Using Perceptual Maps in Marketing." The description of the scenario, recommended solutions and simulation results will be evaluated and discussed. A summary of the different marketing components will be addressed as well as questions regarding (a) the relationship between differentiation and positioning of products or services, (b) the re-positioning of the product, and (c) the impact of the product life cycle in marketing. "Correctly mapping customer perception of a brand, choosing relevant parameters to interpret market research data is vital for a successful marketing plan." (Apollo Group, 2004)Company OverviewThorr Motorcycles, Inc. is a $5 billion company which manufactures a range of motorcycles and produces more than 20,000 units per year. It also licenses programs to sell T-shirts and a variety of other consumer goods. Thorr Motorcycles, Inc. has a high brand image in the market and controls a 40% of the share in its market.
Apollo Group of Hospitals, Kakinada Branch
Product life cycle (3 charts)
Product life cycle (3 charts)(Apollo Group, 2004)Phase I"Where is the Thunder?"Benjamin Bao, CEO of Thorr Motorcycles has employed my services as a marketing manager to formulate a new positioning strategy and construct a perceptual map. As the motorcycle industry grows the sales yearly, the sales of the Cruiser Thorr is steadily decreasing as target customers are no longer interested in the lifestyle this product symbolizes. A new market of younger customers has arisen and they are seeking an affordable motorcycle that has style and a cool brand image. The manager in this simulation selected lifestyle image, quality engineering, price and service offerings as the four fundamental parameters and deemed her selection as optimal for Thorr Motorcycle's perceptual map. (Apollo Group, 2004)Phase II"Revving Up the Marketing"The results of the perceptual map for the Cruiser Thorr...