Marketing of any product remains uncertain with the launch, the most effective campaign, being among the questions the marketers must answer to make it successful. This is however made easier through software that create transparent and quantitative models of marketing that enable marketers make better planned ideas. The application models may include comparing numerous marketing campaigns to identify the one with the most returns on investment, project the demand of a product that is new in the markets, establish the most favorable price points, simulating the movement of competitors and the best means to counter their steps, and proposing better campaigns for launching of products.
First-Class Online Research Paper Writing Service
- Your research paper is written by a PhD professor
- Your requirements and targets are always met
- You are able to control the progress of your writing assignment
- You get a chance to become an excellent student!
Perpetual maps have been used widely in marketing as a tool to present the product to the customers in a visual representation mode and how the product is placed in the market. The customer is left to judge the product on aspects of similarities, purchasing likelihood, and satisfaction they derive from the product, brand or producing company. The Cruiser Thorr motor company uses perpetual maps to create a niche in the market in maintaining a high brand image of their products (University of Phoenix, 2010). This paper identifies the three phases of their simulation, which are the situation, the recommended solutions, and the results which summarizes the different marketing components. It also puts into perspective the relationship between positioning and differentiation of goods and services, and the consequences on the life cycle of the product on marketing.
Phase 1 describes the situation in Thorr Motorcycle Company that has been a leading producer and dominant player in the market but is slowly loosing touch with customers who have fallen for other motorcycles. The Cruiser Thorr sales have been decreasing which can be attributed to the aging effects of the target customers who are aged 35 to 50 years where their tastes have outlived the lifestyle that the motor cycle stands for (University of Phoenix, 2010). To add to this predicament is that the emerging younger consumers aged 21 to 35 years have shifted their interest to motorcycles that have lower prices in view of the fact that their disposable income is low; this makes them loose touch with the lifestyle image of the R Roth. This situations requires marketers to identify the four best relevant factors in order to reflect the highest prospective of the Company.
Nine parameters can be identified to reverse this situation which includes product design and styling, engine capacity, safety, price, lifestyle image, service delivery, coolness, product uniqueness and quality engineering. The parameters identified included price, lifestyle image, service delivery, product uniqueness and quality engineering of the products. Service delivery was identified since the services the company offered were less as compared to other Motorcycle Companies and thus they had to be improved. The lifestyle image was identified in view of the fact that the present image of the R Roth was being replaced and outwitted by the aging audience targeted and the younger customers were not identified with the brand. This would be done as a method to maintain the high brand image of the 651+cc heavyweight cruiser engines and still regain the 40% mrket share of the oligopoly market (University of Phoenix, 2010).
Price was an important factor since affordability would help the customers purchase more. Those interested with lower priced motorcycles would have no reason of not purchasing this products and their buying decision will encompass this brands. The price will be chosen in such a way as not to dilute the brand image but consequently attracting more interests from all prospective customers. Quality was incorporated since a high brand image is unachievable without high quality; these two aspects go hand in hand and thus must be considered together. These four parameters formed the basis to the perpetual map that would produce the best aspired results given the product and the situation at hand. The product uniqueness will also be best since the young customers would be attracted to unique products in the market which were of different tastes from the rest, this would increase the interests of the young targeted population.
In the second phase i.e. recommended solutions the perpetual map developed should be able to reverse the situation of reduced sales. The marketing plans calls for the company to firstly change their brands or re-launch them. The unique products that will be bait to the young target population should be included to increase the sales. Such brand includes the R Roth which is classy and Porsche and thus attracts the youngsters (University of Phoenix, 2010).
A perfect marketing mix of the four parameters indicated above needed to be established in the launch where the prices will be lowered to suit the lower income earners and thus increase the sales. Promotion of the brands was also recommended to solve the situation where the brands would be promoted through the internet at films, retailers, dealers and distributors to make the population aware of the product and the reduction in price i.e. between $13000 and $15000 (University of Phoenix, 2010). The products should be introduced at offer prices at first to gauge the market reaction or better still a competition launched where persons will compete to win the brands through more purchases. After sale services will be offered for free and guarantees of quality that will attract more customers when they are assured that the product purchased is covered by the company. The launching event would include promotion events such as insurance and safety campaigns, issuing of merchandise, publicity through celebrities and free rides. The safety campaigns would encourage customers that the company not only cares about their money but also their welfare. Tapping the young customers would be a top priority since they are the future prospectus of the company that would increase sales as time passes on (Perreault, & McCarthy, 2004). The sector of services will include issuing of financial services and training of dealers to develop an effective marketing strategy. Creating on the lifestyle image would be essential in convincing the customers belief and attitude that the brand is still of high quality and recognized as before so that they do not doubt the company’s transactions. The re-launched products must be ensured to remain cool as the previous brands produced by the company. This proved to be effective in overcomingg the situation. This measure of re-launching gave the most optimal marketing mix that would guarantee more sales and better future performance of the R Roth motorcycle company.
The results or phase three describes the aftermath of the implementation of the recommendations; the results success and the shortfalls that have characterized the plans are identified. The plans of the marketing mix have to be surveyed where the perpetual map will indicate the progress. The market dynamics determined after a year for Cruiser and R Roth indicated a rise in the sales revenue for both.
The set parameters for R Roth were set as 10 for quality engineering, at 6 for price, 8 for service offering and 10 for lifestyle image. For the Cruiser Thorr the parameters were set as 10 for quality engineering, at 6 for price, 8 for service offering and 9 for lifestyle image (University of Phoenix, 2010). Quality engineering and lifestyle image were the selling points for the company hence they were to be perfected in the R Roth make launched, thus they were rated 10. The price needed to suit the average customers market but needed to be above average to create a sense of quality hence placed at 6. Service delivery was also sensitive to attract more customers to buy the products and thus rating it at 8 was more appropriate (University of Phoenix, 2010).
These strategies would be done to secure a niche in the market and dominating the market through the launch of the R Roth; this would ensure positioning of the product in the market and thus meeting the needs of the customers targeted. The customers were offered a new product which would be appealing to them and satisfy their needs the change of taste to a new brand never meant change of lifestyle image but it meant improvement to suit the customers’ needs and hence make more sales (Perreault, & McCarthy, 2004). Quality was not also to be compromised in view of the fact that it would act as an appealing element for all customers that needed value for their money, the quality would increase the loyalty of both old and new customers who had a taste for quality. Service delivery also attracted customers and increased sales.
Differentiation can be described as a market progression that portrays difference that is found between products in the market, while positioning is the customer’s attitude and sensitivity towards a good or service in comparison to other competitive goods and services (Perreault, & McCarthy, 2004). The product life cycle needs to be factored in the marketing strategy since it can be adjusted to increase profits to the company.
The Cruiser Thorr Company initially had a decline in sales as a result of their life cycle which had redundant systems of marketing which targeted the older generations. In view of this there was need for the introduction of the R Roth brand that revitalized the company and increased their sales.
In conclusion, Perceptual maps have been essential to map an effective strategy for this company, this strategy was crucial to reverse the trends of declining sales to increasing sales through the introduction of a new brand. The perceptual plan is thus effective and its three phases essential for most situations to transform companies to profitability.