Perceptual Maps in Marketing Simulation Summary. Phases of the simulation, the situation, recommended solution, and results will be discussed.

Essay by bakerboobooUniversity, Bachelor's April 2008

download word file, 6 pages 4.0

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. The Marketing Dictionary defines perceptual maps as a "process by which consumers' perceptions of an existing product are charted" (n.d., para. 1). In this paper the three phases of the simulation, the situation, recommended solution, and results will be discussed. In addition there will be a discussion on relationship between differentiation and positioning of products or services and the impact of the product life cycle on marketing.

Phase I (2x01)Sales of the Cruiser Thorr are decreasing. This is so because the Cruiser Thorr's target consumers are aging and their tastes have begun to outgrow the lifestyle that Cruiser Thorr symbolizes. In addition to this issue, younger consumers are more interested in lower priced motorcycles due to their lower personal disposable incomes and they do not indentify 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 that were chosen were lifestyle image, services offered, price, and quality engineering. Lifestyle image was chosen since the image for the Cruiser Thorr was being outgrown by the aging target audience and was not identifiable with younger consumers. Since the Cruiser Thorr's lifestyle image is set very high any vital information gathered will be highly useful to maintain that level of image so that it satisfies both an older and younger audience. Services offered was another parameter chosen because compared to their competitors the services offered by the Cruiser Thorr are limited. The more frills a product...