Marketing Simulation

Marketing Simulation

Introduction

The perceptual map refers to the visual picture of the perception of the customer about the brand. The most important attribute for the Thorr Motorcycles is the lifestyle image. Thorr Motorcycle's lifestyle image represents mobility, masculinity and freedom. To bring the profits of Cruise Thorr again, the company would have to develop the image of customer image. This would make the company avoid the decline of sales. The simulation would help and support the company to build an effective plan for the motorcycle brand. With the needs and wants of the customer, perceptual maps can be changed. For a product to be successful, the marketing mix has to be changed. The parameters ensure that the need of customers are improved and those improvements are evaluated. Therefore, for successful marketing relevant parameters are important. This is on the marketing manager to decide that what would make the product more successful: product's repositioning or a new product launch. A different target market would be achieved with the offer of a new product. Loyalty is increased with quality service; therefore the company should offer quality services (Pergelova, 2010).

Overview

Changes are required to be implemented in the business of Thorr Motorcycles. The new marketing manager has to see into this matter. The implementation would build a new image of the brand and the company. The new implementation is required because the sales are declining and the target market is finding the product boring. The target market is finding it difficult to connect with the symbols of the company. The company is required to attract the younger market now. Earlier it was targeting the old market which was 35 to 50 years of age. It is found in the young market too that they are unable to connect with the symbols used by the company. The younger market is specifically interested in the low cost products.

Phase One

The situation is that the parameters showing the high potential of the company has to be the first step of the marketing research. It is among the four fundamental parameters which are relevant to the motorcycle market. Price, service offered, cool and lifestyle image are the parameters chosen. Lifestyle image represents the perception and thinking of the brand by the customers. The lifestyle image can be amended with the help of promotions and advertisements. Cool represents design and styling. It is important factor to attract the young ...