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Using Perceptual Maps in Marketing Simulation MKT/421

MKT/421 Using Perceptual Maps in Marketing Simulation
Summary
There was a situation that was being made clear in the following, the simulation explains the moribund sales of the Thorr Motorcycles’s creation, the CruiserThorr, had previous customers that are getting older and are no longer interested in what the merchandise represents. The other reason for the product decline consists of the younger customers out in the world seeking the motorcycle at a lesser cost; it is for the fact that they would not otherwise have high salaries as in the older age group. These young customers are not able to identify with the Lifestyle image of CruiserThorr for the reason of the bike and its features have matured a small amount according to the market standards. The sales down turn caused Thorr’s challengers to gain industry shares and a competitive market gain. The tasks used were to turn around sales rejections by generating a strategic marketing plan, producing a perceptual map, and assembling the choice of to upgrade the CruiserThorr or construct an upgraded side that fits in with recent more current trends in motorcycles. This plan should make certain Thorr’s place in the marketplace if the process is successful.
In the beginning phase it is recognizing the parameters and how they could be necessary for the product and vital to the consumers. The Lifestyle image of the bike is important for the reason of the right of owning a manly bike. Lifestyle image supplies to a lot of sales in spite of the weather. Motorcycles are an image and it has always been, from the 1900s until today. Pricing strategies play a big role in the success of the product also. It is also important for the product to be priced accordingly; so it can target the market it is alluring towards. For example, if your target is the younger age...

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