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Thorr Simulation

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Submitted By pimptight1210
Words 1091
Pages 5
Using Perceptual Maps in Marketing
MKT/421
May 9, 2012 University of Phoenix

Thorr motorcycles are a 5.5 billion dollar company that produces more than 200,000 units annually. The Thorr Company licensed dealers to sell t-shirts, leather goods, and toys. The Thorr motorcycle company recently saw a decline in the Thorr cruiser that in the past has been the company’s top-selling cruiser. Sale declines are attributed to target age groups no longer taking interest in the lifestyle that the Thorr cruiser portrays and also a younger group of customers.

There are main three objectives of this simulation that will be addressed. The first Task and objective was to identify the appropriate parameters and complete the perceptual map. The second task and objective was to create an effective marketing plan with an budget of $13 Million dollars and the decision whether to launch a new product or reposition the company altogether together. The final objective was to identify the parameter values that would take the company into the future. The first objective was determining the perceptual map parameters. The map will show a realistic visual of how consumers feel about the products and services being offered. There were four parameters chosen and the chosen parameters were lifestyle image, quality engineering, service offering, and price. The parameters chosen were chosen because they were the most important aspects of marketing located in the simulation. The lifestyle image is important and was chosen because consumers base their purchasing decisions based on certain aspects of their lives, such as number of children, job, social groups, and income. The reason the lifestyle parameter was chosen is because this parameter will cater to customer’s lifestyle and result in increased sales for Thorr. Quality engineering speaks volumes about not only Thorr but also

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