Simulation Perceptual Maps in Marketing

Simulation Perceptual Maps in Marketing Research Paper example
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Marketing
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Simulation Perceptual Maps in Marketing Name: Institution: Simulation Perceptual Maps in Marketing To position products in increasingly crowded markets, marketing managers must understand the dimensions through which customers perceive products or services, and the firms offering relative to competitive offerings (Garry et al., 2007)…

Introduction

Thorr Motors for example has used these maps to design a marketing plan for their high brand. Scholar Clemente defines these maps as processes through which the perception of consumers on an existing commodity are charted. I will attempt to discuss the three simulation phases, and recommended solutions and results. Phase I: this involves perceptual mapping. The situation here is decrease in sales due to brand image. This is so because the Cruiser Thorr’s target consumers were aging and their tastes had begun to outgrow the lifestyle that Cruiser Thorr symbolizes. In addition to this issue, youthful customers had more interest in lower priced motorcycles due to their lower personal disposable incomes. Maps that were perceptual were used to position Cruiser Thorr’s position in the market in terms of consumer perceptions. The parameters for mapping included price, services offered, lifestyle image and quality engineering. Since the Cruiser Thorr’s image was being outgrown by the target audience which was aging, lifestyle image was chosen. The mapping of the image was useful in maintaining a level of image that it satisfies both younger and older customers. Lifestyle image was important to Thorr as it had the potential to influence a customer’s decision to buy a Cruiser Thorr because of its representation. ...
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