Mkt 421 Using Perceptual Maps in Marketing Strategy

Marketing is an important process for all companies who want to lapse their target market while meeting the needs of the customers. in that location are multiple aspects of the marketing process including understanding and instruction execution of the four Ps- harvest-home, price, place, and promotion. Implementing the four Ps in the right marketing mix allows a company to arrive products that are different from the competition, which is important if a company wants to cook the competitive advantage. This also allows a company to effectively break apart its brand and product in the market. To help with the positioning of a brand or product a company keep use perceptual mapping. Perceptual mapping is a optical representation of the customers perception of the brand and is as important part or market strategy and planning (Apollo Group, 2004). There are various attributes of a perceptual map including animationstyle image. The attributes of the product are displayed on the axes of the perceptual map. A customers lifestyle plays a major role in the type of products purchased and the price her or she is departing to pay. In the Perceptual Maps in Marketing fashion model ..., the new Marketing Manager of Thorr Motorcycles, Inc., is faced with a earnest of situations in which she will have to recomm obliterate solutions to the company and see the results.



Also in the simulation different marketing components will be addressed including product differentiation, product positioning, repositioning, and the product life cycle.

The Situation
Thorr Motorcycles, Inc. is a $5 billion company that manufactures high end brand motorcycles and provides a number of services. Thorr Motorcycles, Inc. produces more than 200,000 motorcycles a socio-economic class and controls about 40 percent of the oligopoly market. The company also sales a variety of other products including t-shirts, motorcycle boots, and toys. In admittance to various products Thorr Motorcycles, Inc. also provides services to meet the needs of the principal as well as...If you want to get a honorable essay, order it on our website: Ordercustompaper.com



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