Perceptual Maps in a Marketing Simulation Marketing Plan by scribbler

Perceptual Maps in a Marketing Simulation
A review of the marketing strategy for a CruiserThorr motorcycle simulation.
# 152657 | 1,209 words | 1 source | APA | 2013 | US
Published on Apr 10, 2013 in Business (Marketing)


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Description:

The paper discusses the four best fundamentals that need to be looked at in order to best position CruiserThorr in the market; these include lifestyle image, quality engineering, price and services, and then relates that this author decided to launch a new product instead of repositioning CruiserThorr. The paper describes how to position the new product in the market and how to determine the pricing strategy and the marketing mix. The paper then relates that the next step is to evaluate the performance of the marketing plan that was put into place by looking at research data and creating a perceptual map. Finally, the paper explains the role of differentiation and repositioning and discusses the stages of the product life cycle and their implications for the marketing mix.

From the Paper:

"The first section of the simulation was to decide on the positioning strategy for CruiserThorr. The first thing to do was to develop a perceptual map. In order to do this four fundamentals had to be chosen. These are four best fundamentals that need to be looked at in order to best position CruiserThorr in the market - Lifestyle Image, Quality Engineering, Price and Services. Lifestyle image is thought to play the most important role in the Motorcycle Industry. It is important because it persuades customers to buy into the image rather than the functional features. Quality Engineering is important because without this a motorcycle cannot maintain a high image. Price drives a person's purchase decision. Services are ways in which a company can ensure customer loyalty and keep dealers and distributors happy.
"The next step is decided whether to reposition CruiserThorr or launch a new product. I chose to launch a motorcycle. The next step is to decide how to position the new product in the market, what pricing strategy to use and what marketing mix to use. The best choices are to market a product that is priced $13,000-$15,000. This is most appropriate for the younger market segment that has lower levels of disposable income. The best way to market the new product is through Hollywood films."

Sample of Sources Used:

  • The Product Life Cycle. (2010). Retrieved July 25, 2010, from Quick MBA Web site: http://www.quickmba.com/marketing/product/lifecycle/

Cite this Marketing Plan:

APA Format

Perceptual Maps in a Marketing Simulation (2013, April 10) Retrieved April 19, 2024, from https://www.academon.com/marketing-plan/perceptual-maps-in-a-marketing-simulation-152657/

MLA Format

"Perceptual Maps in a Marketing Simulation" 10 April 2013. Web. 19 April. 2024. <https://www.academon.com/marketing-plan/perceptual-maps-in-a-marketing-simulation-152657/>

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