Essay about MKT/421 Simulation Summary week 4

Submitted By noobmonki
Words: 1038
Pages: 5

Marketing Simulation Summary
MKT/421

Simulation
Thorr Motorcycles Incorporation is worth $5 billion. This company manufactures motorcycles in many ranges, and creates more than 200,000 motorcycles a year. This company also licenses many programs to sell and advertise motorcycle shirts, leather goods, motorcycle shoes, toys, and other consumer items relating to motorcycles. This company provides dealer training, motorcycle rental, dealer software packages, and rider training. Phase I the situation
Thorr Motorcycle Inc. is annually growing, but the CruiserThorr product is making less in profit. The CruiserThorr product is a 1500cc power cruiser and is marked at $25,800. The reason for why this product is decreasing because there are elder customers who are 35 to 50 years of age and are no longer finding an interest in CruiserThorr lifestyles.
Recommended solutions
The author’s recommended solutions were standards of living image, superior engineering, value, and services. Lifestyle image influences the consumers to purchase concerning the image, rather than the functional parts. Quality engineering was chosen regarding the parameter choice because this is what makes the product at value. It surrounds the influences as far as design, product, style, uniqueness, engine capacity and design, the quality of the process of manufacturing. Without these influences, a motorcycle cannot keep its high image. Price was chosen regarding the parameter choice because it gives the purchaser decisions, high prices are comparable to the prestigious image.

Phase II The situation
The author can either relocate CruiserThorr or develop a new motorcycle. The CEO, Benjamin Bao feels that the price is a factor that is bringing disquieting matters. He feels that the younger consumers are not interested because of the high cost. He also feels that the company should expand on services to validate high prices. The CERD, Chris Winter feels that the company has the finest engine design, including the manufacturing process. He also feels that the engine alone is enough to introduce less expensive motorcycles. The VP of Brand Communication, Meredith Killgore feels that the image should not be comprised. She feels that better financing opportunities should be encouraged to young consumers to buy the company’s motorcycles. She is also aware that younger consumers prefer financial plans.
Recommended solutions
There was a budget of $13,000 to launch the new product. The author had spent $12,167. The recommended price range set at $17,000 to $19,000. The recommended promotions are to offer insurance and protection plans, to organize parties for CruiserThorr owners, to provide giveaway merchandise, and to sponsor Daytona events. The recommended place includes dealers, distributors, and the manufacture’s web site.
The recommended services include financial services, training to dealers, and customization options. Regarding my performance, it was stated that the author should have chosen the price range of $13,000 to $15,000 and should have chosen the promotion to publicize through Hollywood films. The other areas in the author’s marketing mix were established well.
Phase III The situation
The author’s marketing plan was established for more than a year. Now it is time to make sure it has been successful. Consumer understands of RRoth and CruiserThorr was observed and it is time to start plotting the data on the perceptual map. The perceptual map will determine how successful the marketing activities are.

Recommended solutions
For the perceptual map parameter of CruiserThorr lifestyle image was rated at a seven, price rated at eight, quality engineering rated at seven, and service offerings rated at eight. For the perceptual map parameter of RRoth, the parameters recommended were safety, lifestyle image, price quality engineering and services offerings. Safety rated at eight, Lifestyle rated at eight, service…