Examine the Importance of Demographics and Physical Infrastructure

Thorr Motorcycles perceptual Map Marketing Gary Phillips University of Phoenix Thorr Motorcycles Perceptual Map Marketing Molded and groceryed as Thorr Motorcycles, attributes were modeled by and by the Norse God of Thunder, Thorstrong, honest, and simply reliable production design, and loyal customers lived a modus vivendi of freedom, mobility, and masculinity. Successful merchandising, which promoted high- reverse bikes as an integral component of ones lifestyle had served the purposes for sustaining Thorr with a 40% market particonic blur devotion (Apollo Group Inc. , 2008).Over the past months, gross revenue have been waning largely because of changing market demographics aging customer base, junior generations influx, and competition. The high-end lifestyle image and pricing was not appealing to the jr. set the time was ripe for seizing the opportunity for repositioning Thorrs image in an expanding market. Assessing how consumers recognize instigants, what factors at omic number 18 most important, and comparing attribute preferences by mapping the various aspects or dimensions is a cultivate for creating perceptual mapsa statistical process, which is just one aspect of selling research.Determining the most distract attributes to entangle in constructing the mapping model begins with bod I, Phase II developing a marketing mean after assessing the feasibility for repositioning the existing Thorr machine, or introducing a new brand for sparking interest, desirability, and Phase 3 controls for gauging the effectiveness of the marketing blueprint and constant monitoring for a readied stance for making seamless, cost effective adjustments. Phase IDiscovering market position begins with an assessment of consumer perception for Thorr Motorcycles, in relation to competitors by choosing pertinent parameters, which clarifies strengths and weaknesses. nurture gleaned from Phase I lead provide the framework from which positioning strategies, new p roduct development options, and marketing platforms can be launched within budget for ensuring successincreased sales, revenues, market share, and enhanced corporal mensurate.Quality engineering, price, lifestyle image, and cool were choices that approximated scenario optimal selections. Brand Thorr is synonymous with quality engineering a core appreciate that moldiness not be abandoned. Maintaining quality engineering sustains customer perceptions of excellent quality products, which is an important aspect of corporate credibility. Occupying the mind space of position markets with a notion of credibility is one-step in assuring that Thorr will be a bon ton that individuals look forward to doing business.Pricing is important to most consumers, especially during contracting economies. police cruiser Thorr pricing schedule was negatively viewed by respondents, and an insight was gleaned that pricing strategies would have to reflect these facts. It became apparent that younger customers had less disposable cash, thus part of the solution was revealed that offering more affordable products, which still contain a standard of high quality, seemed to be attributes for developing a new marketing plan and peradventure a new product line.Creating a lifestyle within product design will work a situation when customers will primarily make a purchase based on getting a lifestyle, an image, fulfilling a psychological need for acceptancebelong to a group. Choosing cool, is an attribute that comprises lifestyle therefore, opting for function would have provided an additional unique dimension for deciding to reposition Cruiser Thorr.Added dimensions of functionality, which cover four appropriate mapping attributes will provide more solid footing for making a decision to target a new market segmentthe younger generationwith an exciting, hip, affordable machine, which reinvented a lifestyle, continued committal to quality, featured expanded work, including finance options, sustainment training, and club ride rallies, that would serve to establish loyalty with customers, leads, and distributors (Apollo Group, Inc. 2008). Phase IIAnalyzing the information provided by perceptual mapping and polar marketing research information must be considered upkeepfully, constructively, and fairly by applying critical thinking skills. How will marketing strategies placed into action effect other aspects of the corporate environmentinternally and externally in the marketplace of many eyes and ears tuned in on marketing strategy position and consumer perceptions influenced by segmentation into changing demographics offering new products aimed at younger customers.Will a less expensive new model with enhanced financing opportunities and expanded services rankle customer perceptions of Thorr Motorcycles losing touch with a commitment to excellence in quality? The evidence revealed that a different segment younger individuals influenced by price more so th an the aging customer base that has buoyed Thorrs success over the years is fueling the growing motorcycle market. The younger generation could not care less ab aside the brand image of Cruiser Thorr, let alone purchasing one, which is way out of the preferred price range.For these reasons and the fact that Cruiser Thorr is in stage four of its product life cycledeclining salesthe marketing plan should launch a brand new product, one that sustains the corporate core value of commitment to quality excellence and offers the new market niche affordability, financing options, and enhanced services. This will claim a differentiation in the marketing alloy. According to Perreault and McCarthy, Jr. , 2004, By differentiating the marketing mix to do a better job meeting customers needs, the firm builds a competitive advantage (p. 81).Shifting the market plan with changing differentiation attributes mix at a time managemented on affordability, prepossessing financing options, and expand ed services including social fraternities, the new customer base will be more inclined to view the in advance(p) two-wheeler as a commodity, which offers superior value and quality. Realigning internal corporate processes and unifying the change in focus on a new product goal will cause other processes in the marketing mix to function smoothly for promoting and placing the new product in a position to be perceive in a positive light.Attracting this new demographic and creating a buzz about the new now motorcycle will also sustain the lucrative licensing of product accessories that has been an important component of the corporate landscape and market environment. Phase III The perceptual map considerations for Cruiser Thorr were appropriate and by incorporating attractive financing options, some of the younger demographic segments opted for the higher priced Cruiser.This was an effective consideration for continuing the Cruiser brand, even though the product life cycle is in its f inal stages. Assessing the correct parameters for RRoth fell a bit piffling of the mark. Not including the cool parameter in the control or monitoring phase of the marketing plan for analyzing partial research findings was a mistake and one that I should have considered separate from lifestyle in this phase of the marketing plan. Cool is the in ord and a defining characteristic of lifestyle association by the younger crowd. Using the more efficient engineincreased miles per gallon coupled with lower maintenance costsin the R Roth machine was a sound move, which not only provided the vehicle for offering affordability, but the technical knowhow provided by research and development has successfully sustained a core value of Thorr Motorcyclesa commitment to engineering quality excellence. ConclusionFierce competition is commonplace in the evolving global marketplace and often corporations experience performance changes such as sagging sales, which affected the product revenues for Cr uiser Thorr, a brand that had sustained corporate values and created wealth for shareholders over the years. The forces that be at Thorr Motorcycles, moved swiftly to go over the parameters, which could be the cause for sales to decline in an expanding market sector.Management effectively transformed a problematical situation into an opportunity for creating new product lines, which provided a differentiation of marketing mix with greater stress on affordability, financing options, refined engine technologies, and enhanced services, which combined to create renewed interest in a product brand that was fast becoming known for a reinvented lifestylethe image of cool. Capitalizing on market research paved the way for some of the younger generation to opt for the high-end Cruiser Thorr, which was offered with attractive financing and insurance plans.The mix combined to infuse increased sales for Cruiser Thorr, a product in the last stages of its product life cycle and introduce an in novative product that was establishing itself as a popular lifestyle brand, which was just in the beginnings of its product life cyclea good mix for young and old alike References Apollo Group, Inc. (2008). Cruiser Thorr Simulation. Retrieved July 11, 2009, from University of Phoenix database Perreault, W. D. , McCarthy Jr. , E. J. (2004). Basic marketing A global-managerial approach, (15th Edition). McGraw-Hill Companies.Perceptual Maps are visual picture of what the customer thinks about a product. Perceptual Maps table service to compare the brands attributes with those of the competitors and to ascertain market position (University of Phoenix, 2004). In the pretending, the writer created a perceptual map for the motorcycle company Thorr Motors. The perceptual map will help the owners create a marketing plan to assist in sustaining a high brand image of their motorcycles. This paper will discuss three phases of the simulation. These phases are the situation, recommended and solu tion.The results of the simulation will be discussed. Finally, the paper will discuss relationship between differentiation and positioning of products or services and the impact of theproduct life cycle on marketing. Background Thorr Motorcycles Inc. manufacturers over 200,000 motorcycles each year. In addition to manufacturing motorcycles, they sell T-shirts, motorcycles shoes, and small leather goods(University of Phoenix, 2004) . The company also provides their customers with a number ofservices from dealer training, motorcycle rentals, and motorcycle riding training.I have justbeen recruited to the management team as the new market manager. I am going to help the company construct a perpetual map to help Thorr Motorcycles Inc. create a new market ingstrategy. Phase I Currently, the sales of the motorcycle Cruiser Thorr are decreasing rapidly. The sales are examine Final Examination MKT/421 Version 10 1 MKT/421 Sample Final Examination This Sample Examination represents the Fina l Examination that students complete in Week Five. As in the next Sample Examination, the Final Examination includes questions that assess the course objectives.Although the Sample Examination includes one question per objective, the Final Examination includes three questions per course objective. Refer to the questions in the following Sample Examination to represent the type of questions that students will be asked in the Final Examination. Refer students to the periodical readings and content outlines for eachweek as study references for the Final Examination. Week One Marketing Fundamentals Objective narrow marketing. 1. Marketing a. means selling or advertising b. eans exchanging offerings that have value for customers c. involves actually making goods or performing servicesd. Does not impact consumers standard of living Objective Explain the importance of marketing in organizational success. 2. In 2006, Starbucks produced the movie, Akeelah and the Bee . This is an example of a. Diversification b. market development c. product penetrationd. differentiation Objective force the elements of the marketing mix. 3. All of the following are product-area decisions EXCEPT a. quality level . market exposure c. brand named. packaging Objective Explain the importance of the marketing mix in the development of marketing strategyand tactics. 4. Scott composition uses many intermediaries to reach its target markets Citibank uses none. Which of the marketing mix variables is being considered here? a. Penetrationb. Productc. Promotiond. Place Objective hit a marketing plan. 5. __________ refers to putting marketing plans into operation. a. Delivery b. Implementation c. Operational planningd. Strategy planning