Perceptual Maps

In: Business and Management

Submitted By jodycdm13
Words 1043
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Using Perceptual Maps in Marketing Simulation Summary
Jody Dentiter
April 16, 2012
Kelly Duman

Using Perceptual Maps in Marketing Simulation Summary Perceptual maps in marketing help a company to know the expectations of a customer in relation to a product that company is marketing. This is true of existing and possible future products. In the simulation, the discussion reflects whether the company Cruiser Thorr will revamp the marketing on the existing motorcycle Thorr, or start a new marketing plan for the new motorcycle RRoth. Although the motorcycle Thorr was once in demand, sales are dropping mainly because of the high price and age range of motorcycle riders at this time. Cruiser Thorr Incorporated must make a decision regarding which motorcycle to concentrate marketing money. The simulation’s purpose is to let Cruiser Thorr Incorporated know which to choose. In addition, the discussion’s focus includes the situation in the simulation, recommended solutions, and the result of the simulation. Further, the paper compares the relationship between differentiation and repositioning of products, if the repositioning conclusions in the simulation were as expected, and the effect on the product life cycle had on marketing and if product life cycle had effect on the product in the simulation. As one can see choosing which product to market is as important as the product itself. The perceptual map proved informative regarding what a consumer preferred before and what consumers prefer today. The Thorr motorcycle in its day was a stylish, powerful, and well built machine. In the past, customer’s preferred prestige and the older generation showed more interest in the Thorr. However, today’s motorcycle consumer’s interest includes low price and the target market of a younger generation. The decision here lies about whether repositioning…...

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