Using Perceptual Maps Term Paper

Pages: 3 (874 words)  ·  Style: APA  ·  Bibliography Sources: 0  ·  File: .docx  ·  Topic: Business - Advertising

Perceptual Maps

In phase 1 of the simulation, CruiserThor sales are on the decline. Its previous success is being impacted by a changed market where there are fewer target customers in the traditional target audience, 35- to 50-year-olds. Younger potential customers are price sensitive and lifestyle image is very important. I selected lifestyle image, cool, service offerings and price as perceptual map parameters because I believed these would be the most appropriate to target younger customers. However, I found that the optimal perception map parameters were actually lifestyle image, service offerings, price and quality engineering.Get full Download Microsoft Word File access
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Term Paper on Using Perceptual Maps Assignment

In phase 2, the company can either try to reposition CruiserThor or launch a brand new motorcycle called RRRoth. I chose to reposition CruiserThor because I believe that this product can easily be repositioned to appeal to the younger target market. Market research indicated that CruiserThor already rated high on lifestyle image and quality engineering. Price and service offerings are attributes that can easily be adjusted and I believe that a new marketing plan can easily fix these issues with less risk and cost of new product introduction. The positioning strategy I selected was to decrease price and increase styling for the younger market. I chose three promotional strategies, sponsor events such as Daytona, hire celebrities for endorsements, and publicize through Hollywood films. I believe these promotions can all be used to not only reach the younger target audience, but to also reshape CruiserThor's lifestyle image to appeal to younger consumers. For place, I chose dealers and distributors where I believe a younger audience will be the most likely to purchase a motorcycle. I believe that the younger audience might avoid exclusive show rooms which they believe would have higher priced motorcycles. Although the Internet is definitely an appealing channel for younger consumers, I believe that most will actually need to see the product before making a buying decision. Certainly, CruiserThor will still have a strong advertising presence on the Web, but the company will not invest in trying to actually conduct online sales.

Service was the main ingredient of the phase 2 marketing plan. I chose financial services, training to dealers and customization options because I believe these would help improve the affordability of CruiserThor. For example, younger people may need easy payment plans and affordable dealer service in addition to just lower price to afford the bike. Plus, customization options would allow the buyer to easily choose lower-cost standard options and upgrade based on their budget. I also focused on service as a way to protect the impact of lower prices on the brand image. Finally, I selected club membership… [END OF PREVIEW] . . . READ MORE

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Using Perceptual Maps.  (2007, April 15).  Retrieved March 4, 2021, from https://www.essaytown.com/subjects/paper/using-perceptual-maps/88154

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"Using Perceptual Maps."  Essaytown.com.  April 15, 2007.  Accessed March 4, 2021.
https://www.essaytown.com/subjects/paper/using-perceptual-maps/88154.