Using Perceptual Maps in Marketing simulation Essay

Using Perceptual Maps in Marketing simulation - Essay ExampleThis will be followed by comport impact/results of these decisions which will be generated by the simulation itself. Following this explanation, the interdependence between differentiation and positioning a product and a service is explained. excessively this, the results of the decision of repositioning the brand of Cruiser Thor or introducing a whole new product line will also be discussed. Besides this, the boilers suit effect of Product Life Cycle on the brands performance and the scenarios presented in the simulation is also discussed, which will give a umbrella summary of selected merchandiseing plans and its impact on the brands performance. 1. Scenario 1 1.1 The Situation Cruiser Thorr is the food market leader in the motorcycle industry where the consumers symbolize the brand with lifestyle. life-style positioning is the strongest element in the motorcycle industry and Cruiser Thorr enjoys the brand image of a premium product with all the features and deliverables which makes it the first choice of the consumers who heap afford it. Situation 1 of the Simulation presents a scenario where the Cruiser is losing Sales because its ideal target market (men in the age-group of 25-50) is growing old and is no perennial interested in the lifestyle image of the brand. Moreover, the alternative market of the youngsters do not relate to the image of the brand of Cruiser. Therefore, the brand had to be repositioned in the market and around those elements which would cater to the consumer preferences as portrayed in the market research. 1.2 Recommended Solutions The possible solution was to reposition the brand. I selected the parameters of Price, Service Offerings, Product Uniqueness, Product Design and Style. The results showed by the simulation were that the parameters of Product Style and Design and Product Uniqueness were not appropriately selected. I selected the Service Offerings because th e competing brands had good services to offer and that, because of the high price of the Cruiser, it had to be complimented with Financial Services. Besides this, the Product Style and Design would have complimented the Lifestyle image. I did not select the Lifestyle parameter exclusively because the edit in the target market showed that this was no longer as important to the consumers as it was when they were young. 1.3 The Results As lifestyle image is the most important component in the Motorcycle Industry, the brand will sustain its image. Along with this, the Quality Engineering parameter also had to be included as it incorporated all the other(a) factors such as the engines performance, the design and its overall smell which are important to the consumers. 2. Scenario 2 2.1 The Situation The second Scenario was that the brand of Cruiser was fall back in sales despite repositioning it. The market dynamics through research showed that the young men, aged from 20 35 compris ed of a strong market potential. Now the question was either to reposition Cruiser Thorr again or to launch a separate product called RRoth a much lighter recitation of the Cruiser. 2.2. Recommended Solution The solution was to launch a separate product line under the brand of RRoth with low prices, more financial services, unique design and the quality persistent with Thorrs image. The idea of repositioning Cruiser would be harmful because Cruiser Thorr is the premium brand of the company and repositioning it in the