Simulation scenario: the motorcycle industry is growing annually, but sales of Thorr motorcycles existing product Cruiser Thorr (a 1500cc power cruiser priced at 25,800) are decreasing at an alarming rate. Due to their targeted customers (ages between 35-50) are getting older and do not care about the life cycle Cruiser Thorr symbolizes. Other factors include younger customers (in the age group of 21-35) prefer low cost motor cycles, because they do not have large disposable incomes. Moreover, younger customers do not identify with Cruiser Thorr life style image. The competitors are also eating into Cruiser Thorr’s market share.
Using Perceptual Maps in Marketing" Simulation Summary” Perceptual Map in Marketing for Cruiser Thorr Motorcycles (Thorr Motorcycles).
Complete the simulation "Using Perceptual Maps in Marketing" and prepare a summary in which you address the following:
Formulate a differentiation 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?
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...