Using Perceptual Maps in Marketing Simulation Summary
Brenda Salima
MKT/421 – Marketing
February 27, 2012
Maureen Murphy
Using Perceptual Maps in Marketing Simulation Summary The situation that is being explained in the simulation states of the declining sales of Thorr Motorcycles’s product, the CruiserThorr, because of its previous customers that are aging and no longer interested in what the product stands for. Another factor for the decline includes their younger customers wanting the motorcycle at a lower price for the fact that they would not otherwise have high salaries as in the older age group. These same young customers cannot identify with the Lifestyle image of CruiserThorr because the bike
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A better quality engine, more finance programs and favorable service options are all on the list of what means more to the potential consumers. Once the organization can include customers’ needs into the market plan, the next step would be to maximize any and all promotion opportunities that can be found. How will this new motorcycle be different from the products in the same industry and how should the company position it? Differentiation refers to any uniqueness of a new product; in this case it will be the sleek and futuristic design that is incomparable to all other bikes. It will be designed with comfort in mind as well. It is imperative for Thorr to focus on what will make their product stand out from their competition. If it is one aspect of the motorcycle, then this one difference should be magnified and optimized in all phases of development. For example if it is a top of the line enhancing exhaust pipe, then it should be the main focus on the bike that buyers are interested in. This will prove to be the main factor to gain momentum in sales and market shares. Positioning is another important factor to creating anything new. Making the decision of placing the RRoth in the dealer showroom floor or exclusively at one particular dealer are marketing decisions that will influence the success or failure of this new product. If the sales approach is to
Being aware of our external environment and constantly striving to adaptation and customer satisfaction will allow Off The Chain Bikes to maximize our revenue, shareholder value, and brand popularity. These maximized components will allow us to stay at the top of the industry and create healthy longevity for our company and its employees.
Current sport bikes were inspired and derived from their traditional core competencies such as engines with futuristic design and good handling.
Currently H-D is the leading seller of heavy weight motorcycles across the entire world. Because they are at the pinnacle they are the target for the competition. Some of Harley Davidson 's advantages are name recognition, brand loyalty, brand quality and customer loyalty (Hitt, Ireland & Hoskisson, 2013, p. 81). The company benefits by having “the made in America” image attached to its products. The image of a Harley rider and owner is one of a tough, independent, free spirit, ready and willing to take on the world type of man. The sound of a H-D motorcycle in idle or being ridden is unique and very identifiable.
Allstate has taken a qualitative approach to developing marketing strategies aimed at the non-traditional market. Qualitative measures are targeted at finding out what customers think or feel about certain products or brand names. In past years to gain market share in the motorcycle industry, Allstate developed “Allstate Garage”. (Crepeau, 2008) This fun interactive website employed the qualitative approach of visualization to allow users to customize their own motorcycle by choosing different models, styles & accessories. Within the customization process, Allstate would indirectly emphasize perks about their insurance policy options. This visualization measure also provided apps for planning scenic rides and safety tips for motorcyclists.
The quality of engineering and the safety are other essential points that the marketing plan should include. These parameters are important for both age groups. Having certain extra safety features on the motorcycles can contribute to the need of the younger buyers. Because there funds are low there has to be consideration toward what is affordable. There are possibilities that parents might help to purchase. Within seeing the extra safety features on the car. Quality of engineering is important to the life of the motorcycle. Indeed this will assure the long lifespan and the quality put into all products sold by this organization.
For the past couple of weeks, I engaged in a marketing simulation. This Simulation was extremely fun while challenging as it taught me the right way to advertise and market a new brand, specifically a computer, that you are putting out to the world. The targeted markets were Chicago, Sao Paulo, Paris, and Shanghai. There were three different segments that were related to PC’s and laptops. Those three were Mercedes, Workhorse, and Traveler. Below, I am going to mention what specific decisions I made in each of the six quarters as well as why I made each decision.
Consumers are not limited to a single market, many of them will be purchasing multiple bikes, but all of them have specific preferences. Successful company will meet customer’s needs and maximize sales by growing the potential market size as well as taking sales from competitors.
The fight amongst the major players in this industry is not over price, but over capturing the market share. Since, there is no one definitive leader in the motorcycle industry on the global level, the companies tend to steal each other’s business, this makes the industry rivalry cut throat. One of the crucial factors that make this industry extremely attractive is the constant drive for innovation. Since different industry participants have different approach towards the same segment of the industry, there is a very high
Harley-Davidson's mission statement is to "fulfill dreams through the experience of motorcycling, by providing to motorcyclists and to the general public an expanding line of motorcycles and branded products and services in selected market segments." (Harley Davidson, 1999). The company's main objective for the entire organization s is to have happy and satisfied stakeholder; this includes their customers, employees, suppliers, investors, and the entire society in general. Harley-Davidson makes the customer's experience with their products the core of their business and every effort is made to make this experience as enjoyable as possible. It is this strategy that has helped Harley Davidson meet its current level of success.
2. Product Line and Positioning Choice – The product line itself has to be determined. Is it
In this paper we will perform a complete analysis of the Harley-Davidson Corporation including their corporate and business strategies, strengths and weaknesses, environmental opportunities, the five industry forces, and financial situation. Harley-Davidson has many attributes, which will be apparent in the following analysis. The paper will attempt to define the different components of the analysis and put them all together in a way that seeks to explain the way that they contribute to the overall success of the company and its stakeholders.
Historically Harley-Davidson to be a Niche Marketer, which is they had focused in on one particular aspect of the market. Kotler and Keller identified the following characteristics of niche marketing; customers have a distinct set of needs, they are willing to pay more to the firm that best suits their needs, it is not likely to attract competitors, gains economies through specialized products and it has a size, profit and to grow. Almost all of these hold true for the “heavyweight” segment of motor cycles that Harley-Davidson produced.
Since Harley Davison Motor Company started in 1903, they have been successfully “taking the work out of bicycling” better than any other motorcycle manufacturing company. They have experienced great success recently with growing numbers in their percentage of motorcycles shipped, up 14 percent from 1997, and their target market size, up 13.8 percent from 1997. Their brand has also grown so strong over the years that customers are willing to wait up to two years for a motorcycle. The problems that Harley Davison is faced with are how to improve their existing purchasing process, how to integrate their existing procurement methods together, and how to develop longer term
The website of Harley Davidson gave us a new concept of Motorcycles! The extension of this website is exceptional. The virtual Customer Service in this website is notorious and extremely helpful. From other motorcycles websites this is one of the most professionals ones where the customer can get a flavor of the company from products up to their businesses profits and others...Harley Davidson publishes material related to all aspects of their motorcycles and provides to their own and the general public good information, expanding their products and other services with local information for countries around the world. Their information and technology, including digital libraries, metadata, authorization and
The success of Harley Davidson (HD) is due to the American motorcycle icon’s effective Strategic Management. HD’s vision, mission, goals and objectives strive to exceed the requirements of its main stakeholders. Although these needs are not always met, the company has unique relationships with is stakeholders. The company stays on course with its strategic plan, despite the economy and the decline of American manufacturing and what might be considered its dwindling U.S. consumer base.