Premium Essay

Thorr Cruisers Paper

In: Business and Management

Submitted By mdelapena
Words 1440
Pages 6
Thorr Cruisers Paper
Student
MKT/421
October 11, 2010 Instructor: Name

Thorr Cruisers Paper

In the Thorr Cruiser simulation, the sales of Thorr Cruiser have been decreasing steadily. This forced the need to redevelop the company’s marketing plan, which includes the determination of whether to introduce a new line of motorcycles. The simulation educates the student with the interpretation of the market research data using a perceptual map. “Perceptual mapping can be used to give you that additional insight into the current position of your product and its potential in the face of competition” (Outsourcing2India, 2010). The simulation uses this technique to analyze the perception of the Thorr Cruiser to ascertain the reasons for declining sales and to formulate a strategy for improvement in the positioning of Thorr Cruiser. The improvement of the positioning of Thorr Cruiser will rely on implementing changes in the company’s marketing mix. The marketing mix refers to the combination of product, place, promotion, and pricing strategies. The final marketing mix that will help reposition Thorr Cruiser.
While running the simulation the marketing mix used was price, services, engineering, and financial options. Price is important to position Thorr Cruiser as a premium product. Pricing affects the perceptions of customers and so lifestyle pricing has been used. In addition, lifestyle pricing will support quality engineering so that the Thorr Cruiser that rolls out as the best motorcycle with the quality better than that of any other motorcycle. Service offering is an important attraction. The level of quality will go a long way in improving the positioning of Thorr Cruiser and increase its sales volume. Another important factor selected is that of quality engineering.
Quality engineering on one level means that Thorr Cruiser will maintain its high…...

Similar Documents

Premium Essay

Simulation Paper

...strategy for Cruiser Thorr by changing the market mix at the Price, Place, Promotion and Services levels. My Performances: Marketing Mix, Lifestyle, price, service offering and quality engineering. - Repositioning, financial options- price parameter, increasing service My Decisions: Maintaining price- Publicize through Hollywood Films- Internet (manufacturer's Web Site), Financial Service and Customization Options, A. For each of the three major phases in the simulation, describe: 1) The situation 2) Your recommended solution(s), including why 3) Your results B. Summarize the different marketing components addressed in this simulation by answering the following questions: 1) What is the relationship between differentiation and positioning of products or services? Is the repositioning of the product in the simulation as you had expected it to be? Why or why not? Simulation Paper 3 Running head: Simulation Paper 2) What is the impact of the product life cycle on marketing? What impact did the product life-cycle have on the product in the simulation? A. For the first major phase is to identify the parameters that are relevant to Thorr Cruiser. The first parameter is that of the extent of contemporariness of Thorr Cruiser. Thorr Cruiser is not perceived to be modern, apart from the old; there are few people that want to purchase Thorr Cruiser. So the parameter of contemporariness has been identified as important for Thorr......

Words: 350 - Pages: 2

Premium Essay

Perceptual Maps

...Using a Perceptual Map for Thorr Motorcycle, Inc. MKT/421 March 25, 2013 Perceptual Map Company Bio Motorcycles have been marketed as the masculine, mobility and freedom machine since the early 1900s. Crusier Thorr is no different. It is a high-powered, efficient motorcycle modeled after the God of Thunder himself. Cruiser Thorr is prized for it strong, honest and dependable product design; however, with the changing demographics of its target market, the company has hired a new Marketing Manager to re-market the high-end bike to a younger market. This paper will describe the decisions made by the new marketing manager and the company’s attempt to re-invent their marketing strategies to push this bike into a demographically challenging market. The Situation An important attribute to Thorr’s Motorcycle, Inc. is Lifestyle Image. Lifestyle image creates the need for customers to purchase the line “Cruiser Thorr” because of the masculinity and freedom it represents. The perceptual map is a visual description of a customer's perception of the brand.  Thorr's motorcycles were positioned as high-priced and that perception did not fit the market for younger consumers that have less money to spend then mature consumers. Thor began to see a decline in its market position due to the escalated price and the life style image presented was targeted toward the older generation. Considering the decline in sales, Thorr’s Motorcycles, Inc. had to make changes to the image it......

Words: 1250 - Pages: 5

Premium Essay

Cruiser Motorcycles

...Cruiser Thorr Motorcycles Cruiser Thorr Motorcycles In the case of Thorr Motorcyles Inc., the company’s dilemma was to figure out how to stop the steady decline of motorcycle sales. The company’s once successful motorcycle was now in the declining phase of the product life cycle. This paper will discuss the recommended solutions, the results, the relationship between differentiation and positioning of products or services, and the effect of the product life cycle with this particular product. In order to revitalize the sales of Cruiser Thorr, there has to be market research conducted. The research was based on competitors with similar products and what was offered that helped the competition sustain sales. The competitors that were researched for Cruiser Thorr were Anzai and Espritique. The parameter values that were compared were lifestyle image, service offerings, price, quality engineering, cool, safety, product uniqueness, and product design and styling. Based on these values, Cruiser Thorr was lacking in a few categories in comparison to its competition. As a new member of the marketing team and conducting quality research, the first call to action was to re-assign a couple of the parameter values that were previously a priority. The initial parameter values that sustained the Cruiser Thorr motorcycle success were lifestyle image, service offerings, price, and quality engineering. The four parameters that were decided upon were cool, price, safety, and......

Words: 1061 - Pages: 5

Premium Essay

Perceptual Maps

...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 the Thorr or go on......

Words: 1043 - Pages: 5

Premium Essay

Mercadoe

...aspect called inbound and outbound marketing. Inbound marketing is the research aspect of marketing. Marketing research gives companies key information about economic conditions, consumer demographics, consumer... Lifestyle image is an important attribute to Thorr Motorcycles, Inc. because it can influence customer to purchase a Cruiser Thorr due to what it represents. The perceptual map is a visual representation of a customer's opinion of the brand.   The Lifestyle Image that the Cruiser Thorr represents is freedom, masculinity, and mobility. With the decline of sales, Thorr Motorcycles will need to change the consumer image in order to bring profits to the Cruiser Thorr again.   Because marketing is not only selling and advertising organizations must understand how it can affect the product and players in the economic system. The simulation helped to construct and use a perceptual map in order to create an effective marketing plan for the motorcycle brand. The situation The major situations in the simulation where a decrease in the sales of the Cruiser Thorr, creation of a market plan that would reposition Cruiser Thorr versus launching a new motorcycle, and to interpret market research findings to plot Cruiser Thorr's brand attributes on a perceptual map. Recommended Solutions The solutions that have been recommended are reformulating areas of Quality Engineering, Price, and Services. Quality Engineering was chosen because it encompasses every characteristic of the...

Words: 2472 - Pages: 10

Premium Essay

Using Perceptual Maps in Marketing Paper

...Using Perceptual Maps in Marketing Paper MKT/421 Using Perceptual Maps in Marketing Paper The manufacturing company that makes more than 200,000 cycles each year is called Thorr Motorcycles. They have a prize bike called the Cruiser Thor. This is a billion dollar company which provides training and services along with software packages which come from the dealer. They also sell other cycles with other merchandise that includes shoe, leather items, helmets, etc. In addition, customers can choose to purchase more services which include motorcycle training for inexperienced riders or they have the option to rent the bike. Situations, Solutions and Results In the first situation the numbers at Thorr are decreasing due to the company having older customers and having those who have begun to lose interest. The young consumers are more interested in bikes that are not too expensive because their disposable income is not that large. Thorr must now develop a marketing strategy which will cause a reverse in the decline. The task is to determine what the position of the company market is in by working with the perceptual map. In addition, a selection of four parameters which are fundamentally significant to that industry and show the largest capability for Cruiser Thorr, is necessary. I chose Price Cool, Quality Engineering, and Lifestyle Image as my fundamental parameters. I realize that instead of choosing cool, that services offered might have been the better choice. It......

Words: 1078 - Pages: 5

Premium Essay

Using Perceptual Maps in Marketing

...is displayed on a graph that shows its position relative to the competition. The perceptual map will help a company identify a positioning strategy in relation to the company’s competitors. In the simulation, there were three situations that solutions were needed to be identified. In the following paper, the situation, a proposed solution, and the outcome will be described. First Situation Although motorcycle sales are rising, Cruiser Thorr, Thorr Motorcycles product, is declining in sales. The purpose for the weakening is that Thorr’s target market elderly adults are growing older and are no longer interested in purchasing the motorcycle. Youthful consumers are not willing to purchase the Cruiser Thorr. Young customers prefer inexpensive priced motorcycles subsequently; youthful consumers lack a large amount of a disposable income to dispense. Also the youthful multitude does not relate with Cruiser Thorr’s lifestyle product line. This development of diminishing sales is required to reverse sales. A new marketing design needs to be put into place that will make the Cruiser Thorr more wanted by young consumers. The four considerations that is believed will make the Cruiser Thorr desirable to younger customers are the following: Cool, Service Offering, Lifestyle Image, and Price. These four considerations as it is to believe what a younger customer would be searching. Cool is not a parameter that is considered to be a fundamental parameter in the new marketing plan.......

Words: 1123 - Pages: 5

Premium Essay

Perceptual Maps Simulation

...Analysts, 2011) The paper discussion will explain the suggested results for the simulation in addition to individual outcome. The positioning and differentiation will also be explained and how they relate to the perceptual map simulation. While taking the simulation one could see that the product life cycle was effected during scenarios. Simulation The motorcycle company produced over 200,000 motorcycles a year and the most popular one is the Cruiser Thorr. Major problem came when the customer base started to change and the sales started to decline. The reason for the decline in sales is the demographic the motorcycle company decided to target. They decided to target the older generation and priced the Thorr too high for the younger generation. Being that the motorcycle company decided to market to the more mature demographic the company did not focus their marketing on the younger generation thus they were not even aware of the motorcycles. That decision had a great effect on the sale of the motorcycles. Only targeting the older generation meant that the motorcycles were designed for that generation and did not appeal to the younger crowed. The downturn in the economy also affected the sales because they were priced too high. Recommended Solutions A factor chose during the simulation was price, which is important when making any major purchase. When the consumer thinks about price they also think about the quality of the product. The Thorr motorcycles have been...

Words: 1111 - Pages: 5

Premium Essay

Mkt 421 - Perceptual Map Simulation

...Perceptual Map Simulation MKT 421 Perceptual Map Simulation Introduction This paper will take a look at a perceptual map simulation of a motorcycle manufacturer which produces a motorcycle called Cruiser Thorr. A perceptual map is a visual representation of the customer’s perception of the brand, which helps in its positioning. A perceptual map can have several parameters which can overlap in their descriptions. These overlapping parameters are the superficial attributes of a product, and several of them often define a product’s fundamental parameter. (Using Perceptual Maps in Marketing, General Marketing, Retrieved from https://ecampus.phoenix.edu). This paper will look at several fundamental parameters, including lifestyle image, product design and styling, product uniqueness, and quality engineering. This paper will look at the three major phases in the simulation, Positioning Strategy, which determines differentiation based on Product, Price, Promotion, Place and Services. SWOT Analysis which looks at strengths, weaknesses, opportunities, and threats to the product brand. Finally, Market Research, which looks at Consumer preferences by age group, income group, and financing requirement. These major phases are all used to form a marketing plan. In this simulation, this writer has joined CruiserThorr as a Marketing Manager. The first step in the marketing manager’s new position is to formulate a positioning strategy by......

Words: 1483 - Pages: 6