Thorr Cruiser Motorcycles has been a popular brand over the years attracting an older generation. Being that it is the declining stage of their product Thorr has decided to market a new brand for the younger generation. This product is in the maturity stage because of the promotional, advertising, and marketing techniques.
The motorcycle industry is growing annually, but sales of Thorr motorcycles existing product Cruiser Thorr (a 1500cc power cruiser priced at 25,800) are decreasing at an alarming rate. Due to their targeted customers (ages between 35-50) are getting older and do not care about the life cycle Cruiser Thorr symbolizes. Other factors include younger customers (in the age group of 21-35) prefer low cost motor cycles, because they do not have large disposable incomes. Moreover, younger customers do not identify with Cruiser Thorr life style image. The competitors are also eating into Cruiser Thorr's market share. (University of Phoenix, Apollo Group, 2004) My recommended solutions are to improve the lifestyle image, better quality engineering, lower price, and better services.
Market share of mobile os s 2008
OS market share - Janurary 2010
Product life cycle (3 charts)"Lifestyle image plays the most important role in the motorcycle industry. Attributes such as lifestyle image, product uniqueness, engine capacity, product design and styling, and the like constitute the image of a brand. When such attributes are high on a perceptual map, brand image is also high. Lifestyle image is the most powerful attribute, because it influences customers to buy into the image rather than the functional attributes. Quality engineering covers almost every aspect of a product. It encompasses attributes such as a product design, styling, engine capacity and design, uniqueness and quality manufacturing processes. A motorcycle can not maintain a high image without this attribute. Price drive purchase decisions and a high price is directly proportional to a high image. Normally, price cannot be lowered...