Mkt421 Week 4 Perceptive Maps

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Using Perceptual Maps in Marketing Student 06/08/2011 MKT/421 Eric Herrick Using Perceptual Maps in Marketing - Simulation This assignment is written in fulfillment of the MKT/421 class at the University of Phoenix. The assignment calls for covering each of the three major phases in the simulation and to describe: * The situation * Recommended solutions and why * Results * Show what is the relationship between differentiation and positioning of the product for Thorr Cruiser and is the repositioning of the product in the simulation as I have expected it to be. Also highlight what was the effect of the product life cycle, and what effect did the product life cycle have on the product in the simulation. * The…show more content…
* Recommended Solutions * After completing the simulation the recommendations I made where as follows: * Maintain the current pricing model so as to not diminish the brand by looking like a cheap version of previous Cruiser Thorr motorcycles sold * Publicize the motorcycle by promoting it in Hollywood films that could portray the cool, fee lifestyle of owning the motorcycle would be which is important to the brand * Use the tools younger motorcycle enthusiast use by placing it on the web and including features like build your bike so younger buyers would have the see it and can enjoy the right now experience they are accustomed to * Offer more service plans that can offer a wider range of flexible pricing options especially for younger riders * Increase financial options so there is flexibility in ways one can fund the purchase of a high-end motorcycle Results Overall the results of my simulation were not bad and I had correctly interpreted the data for two of the parameters but fell short on two of them. To look a little closer at each of the categories here is a summary of how they measured up: * Lifestyle Image – was initially high and still is to many customers so assigning it ten was appropriate and in line with the customers perception * Quality Engineering – was higher than the value I assign which was a six but should have been rated closer to an eight overall and is still an area that Thorr should

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