Marketing Mix
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In the first situation – the market position of the Cruiser Thorr needs to be ascertained using a perceptual map and choose four fundamental parameters that are relevant to the motorcycle industry and that reflect the highest potential for the CruiserThorr. My recommendations for the parameters to be used were Lifestyle image because it plays an important role and is powerful attribute influencing customers on the image of the motorcycle. The second parameter chosen was Quality engineering because it requires a detailed manufacturing process and re-assures the customers that the bike is well-made. The price will drive purchase decisions and let customers know that they will purchase a product that goes hand in hand with their image. CruiserThorr’s Services will make sure that customers will come back and also keep your dealers happy with the new and return customers. My results are that I choose three out of the four fundamental parameters CruiserThorr’s perceptual map.
In the second scenario – the position of the Thorr was not helping sales so I have to come up with a marketing plan that will either reposition the CruiserThorr or launch a new Motorcycle. The budget that is in store is $13 million. Here I decided to launch the new motorcycle – The RRoth . This will help the company appeal to a younger market. The price range is $13,000-$15,000. Several promotions to help launch the bike would be to hire celebrities for endorsements, have the bikes appear in Hollywood films where technology plays an important role and offer insurance protection. The RRoth will appear in dealerships, distributors and the internet. The internet will be able to reach those customers who opt not to come out to a dealership or deal directly with a dealer. Pricing the RROth cheaper than the Thorr will automatically appeal to younger market because now affordability comes into play. RROth can also be seen as cool and fun while still upholding the brand image. Offering financial services will also increase the number of sales through younger market because now they have payment options. Customers can also opt to customize there bikes to add more of a uniqueness to their own bike. In addition to services – there will also be training for the dealers since they have a one on one contact with the customers and can give them a sense of reassurance and stability when guiding them around to the motorcycles. Since the RROth will still