MKT/421 May 4, 2012 Perceptual Maps Simulation Introduction While taking the simulation an individual can learn how to use the perceptual maps of marketing to their advantage in different markets. The maps are identified by way of “widely used tools in marketing that provide a visual representation of customer perceptions towards objects (products, brands or companies), and how these are positioned in the marketplace” (The Marketing Analysts, 2011) The paper discussion will explain the
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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
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Using Perceptual Maps In Marketing Simulation Using Perceptual Maps in Marketing Simulation Thorr Motorcycles manufactures a range of motorcycles. It also carries a wide variety of accessories and products from shoes to toys. The image Thorr Motorcycles perceive is that of freedom, masculinity, and mobility. Thorr Motorcycles offers various services, for example, dealer training, dealer software packages, rentals of bikes, and rider training. Thorr Motorcycles believes in having a high
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Perceptual Maps Simulation I found this simulation to be very interesting. First of all, it was about motorcycles, and what guy doesn't find that to be an interesting topic? Regarding the lessons it contained for marketing though, it was also interesting while still being entertaining as well. The situations it presented were realistic, while not being so overcomplicated that the material it was trying to present got lost. In the following paper I will discuss the situations from the simulation
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Perceptual Maps in Marketing Simulation Summary Thorr Motorcycles, Incorporated manufactures various models of motorcycles, and is a $5 billion company. The CruiserThorr power cruiser model provides the company a high brand image in the market, but sales are decreasing. The company contributes the decline to the aging target customers who purchase the cruiser as a lifestyle symbol, and the high cost of the motorcycle. Thorr must reverse the falling sales by developing a marketing plan with the
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"Using Perceptual Maps in Marketing" Simulation The way industries, consumers, and society in general define marketing is often very different. The definition of marketing will often very by what aspect of marketing the individual has been knowledge. For example, a customer service representative is aware of the mantaince and quality of service provide after the creation of the product. On the other hand, a marketing agent is exposed to the quality of the product, promotion, sales, prices, and advertising
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Perceptual Maps in Marketing Simulation MKT/421 Perceptual mapping is a technique used by marketers to visually display the perceptions of current and potential customers. Thorr Motorcycles is a billion dollar company that offers services in rider training, dealer training, dealer software packages, and motorcycle rentals. The image of Thorr Motorcycles have been sought by customers for years but it is a different
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Perceptual Maps in Marketing Jennifer Cantrell August 5, 2013 MKT/421 In this simulation, Thorr Motorcycles, Inc. manufactures higher end motorcycles. They currently produces more than 200,000 each year. The company’s top seller is the CruiserThorr however sales have been dropping due to the aging of the company’s current target market. The CruiserThorr does not have as much appeal for the younger target markets due to the pricing strategy. Since it
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Using perceptual maps in marketing simulations Donte Thorne MRK/421 April 5,2012 Ms. Fulton Using perceptual maps in marketing simulations Through visual representation of the consumer’s perception of brands perceptual maps help illustrate the distinctive positioning of a company and may also help with creation of a marketing plan. Many parameters can overlap superficial attributes of a specific product while other parameters define the products fundamental parameters. The fundamental
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Using Perceptual Maps in Marketing Simulation Summary The Business world is constantly thinking of innovative ideas to accomplish the goal of having an ample amount of information for current and future marketers. Subsequently marketing students were specifically instructed to complete the simulation, Using Perceptual Maps in Marketing, located on University of Phoenix’s student website. I prepare to address the three major phases: the situation; my recommended regarding why I recommended those
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