Perceptual Map Marketing free essay sample

The purpose of this document is to illustrate the information contained within the Perceptual Map Marketing simulation and relate to its information as practical and important. Contained in the simulation were three phases, each of significant importance. We will include in this document the situation, the recommended solutions and the results.We will discuss the multiple marketing aspects that were revealed within the simulation and we will attempt to create satisfactory responses to the various questions which arise out of the relationships between differentiation and positioning of products or services and what the impact of the product life cycle on marketing is. It is the hope that after reading this document there will be a clear concept of what the results of this simulation were and how they are applicable to the papers mission. All good things have a story and Cruiser Thorr was no exception.We learned about the meaning behind the bike. We will write a custom essay sample on Perceptual Map Marketing or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The simulation showed how to create and use a perceptual map using the bike as a primary example. When using the Perceptual Map it then became clearly more evident which direction the marketing goals should take to carry on its back the heart and soul of the Morotcycle brand. In selling thousands of motorcycles a year the Thorr Motocycle company has created a client base capable of supporting their imense variety of choice that is given to the consumer. Everything from the type of engine to how many people can ride the bike.They sell accessories such as protective gear, clothing and even little models for children. The services they offer to their customers are that you would expect from a first rate bike shop. Our task is to set up a positioning strategy, a perceptual map and create the parameters that will become vital to the product as it will be the customers only information before making a major purchase. For decades now the industry of motorized bikes have been on the ries. Even with this evident truth backed by consumer research the top selling item that Thorr Motorcycles is creating seems to be dwindeling. The logical conclusion that we are coming to to is that their target customers are in the decades of their 30s till almost 60s and through the proccess of life seem to have lost interests in what Thorr stands for. No longer are these men rebels or out to â€Å"be wild† as Steppenwolf would say. Any consumers who are younger are simply not capable of affording the high price tag associated with a Thorr bike which ranges in the high 20 to low 30 thousand dollar range. Younger riders are more apt to buy less expensive, quicker riding bikes that are the exact opposite of the image that Thorr stands for.We are going to solidify Cruiser thorrs postion in the market by creating its Perceptual map. There are four basic parameters that are relevant to the entire scheme of biking industry which reflect the highest chances for Cruiser Thorrs survival. These are the four parameters: lifestyle image, product design and styling, service offerings, and price. The selection of lifestyle image is almost a no brainer as it is the backbone of the Cruiser Thorrs previous success. The entire bikes thriving record is built upon a reputation that having their bike is a status symbol.The same reason that people buy Starbucks instead of simply brewing their own coffee at home. Unlike other industries, transportation specfically speaks to the identity of the person who has the item. They will spend much of their time utilizing their vehicle. In no vehicle type is this more relevant than in bikes where people will see the bike and there will be no windows, walls, or doors hiding the rider from the world. Everyone will see who the rder is and that is why Product Design nd Styling are so vital to its success. The bike and the rider are one.Man and machine moving along the pavement together. The service offerings are probably the most second important aspect to a vehicle other than the price. Maintanence and such can get very expensive very quickly. Assuring that you are taking care of you customers and looking out for their well being is primary in the grand scheme of all things. At the end of the thought of course is always the most important aspect. Cost and price. The price is affected by many, many things. Among these things is engineering, construction, materials, labor, transport of the bike itself.The whole purpose for this bikes creation is ot make money. To make money you must have a clear marketing plan. Due to this obvious fact we have restructured Cruiser Thorr and decided to not create a new bike. It is imperative to keep the Cruiser Thorr in production if Thorr is going to keep making motorcycles. It is the bike that has built their empire. It would be as if Levis stopped selling 501 Jeans. We instead create a financing option that gives the consumers with less money an opportunity to own a Cruiser Thorr.With increased service options will be able to make rational sense of the high price that we will be able to keep at the same price. For advertising it would probably be a good idea to put some endorsements in race tracks, hook up with a popular drink brand like MONSTER and maybe make a â€Å"Monster Bike† that can ride around. We can also take a page out of the GM book and put our bikes into movies and on television for product placement. The current straegy is based on price, product, location, current pomotions and services offered.With the goal of repositioning the product in an attempt to remove the competions hold on the market because we will move the parameters into concurrent thought forms and proccesses making us and our strategies the same as the competition. We know that there are four key factors that are represented by stages in a products life cycle that are important for the marketing officer to know and understand. The four stages: introduction, growth, maturity and decline. Once a product reaches the stage of its full maturity it is time to revisit it with the hope of making improvements.If this is not done the product will very quickly enter the declining stages of its life cycle. This is the reason that Cruiser Thorr started to drop its sales figure. Their product had reached its maturity. Their current customers were old and any knew ones had no idea what Cruiser Thorr, the brand, stood for. For this reason we had to reinven and improve their bikes. It was necessary to compete. It is the hope that we have together reached and addressed the various key points necessary to form a graps of the information that was provided. We have described the three major phases in the simulation.The situation and the recommended solutions have been addressed along with what our results were. We have talked about the different marketing aspects and answered the different question sthat were arisen between the relationships of differentiation and positioning for each of the products and services and its impact. It was the desire of I to create a solid understanding of the purpose and use of Perceptual Maps in Marketing. References All information was taken from the Perceptual Map Marketing Simulation provided on the University of Phoenix website.

Nuclear Power and the Future essays

Nuclear Power and the Future essays Today's lives rely on electricity, for example, in homes, in factories, and in offices. Nowadays, human beings use nuclear power for generating electricity, but there are many problems in handling nuclear waste. To build a nuclear reactor, what you need is some mildly enriched uranium. Typically, the uranium is formed into pellets with approximately the same diameter as a dime and a length of an inch or so. The pellets are arranged into long rods, and the rods are collected together into bundles. The bundles are then typically submerged in water inside a pressure vessel. The water acts as a coolant. In order for the reactor to work, it must be submerged in water, That means that the uranium would eventually overheat and melt. To prevent this, control rods made of a material that absorbs neutrons are inserted into the bundle using a mechanism that can raise or lower the control rods. Raising and lowering the control rods allow operators to control the rate of the nuclear reaction. Whe n an operator wants the uranium core to produce more heat, the rods are raised out of the uranium bundle. To create less heat, the rods are lowered into the uranium bundle. The rods can also be lowered completely into the uranium bundle to shut the reactor down in the case of an accident or to change the fuel. The uranium bundle acts as an extremely high-energy source of heat. It heats the water and turns it to steam. The steam drives a steam turbine, which spins a generator to produce power. In some reactors, the steam from the reactor goes through a secondary, intermediate heat exchanger to convert another loop of water to steam, which drives the turbine. The advantage to this design is that the radioactive water/steam never contacts the turbine. Also, in some reactors, the coolant fluid in contact with the reactor core is gas (carbon dioxide) or liquid metal (sodium, potassium), these types of reactors allow the core to be operated at higher temperatures...

Entrepreneur - link literature review theories to real life Essay

Entrepreneur - link literature review theories to real life entrepreneur - Essay Example The so called killer phrases are also sometime referred to as one of the real barriers behind the process of creative thinking. However in order to overcome these barriers to the creative thought process, resources are required which might include the right attitude adopted by the entrepreneur. Creativity and innovation are probably the two ways through which entrepreneurs make difference in the world. This assumption of having creative and innovative entrepreneurs is based on the fact that every entrepreneur has certain personal traits and motivations and key element of this is their ability to put their efforts and endeavors behind it. Probably the most innovative and creative endeavor of entrepreneur is his ability to create capital. (Thompson, 1999). By adding value and creating capital, entrepreneurs basically transform their business activities in the larger good of the society. It is largely believed that the success of entrepreneurship therefore base on the personal traits of the entrepreneur which include his ability to be an intuitive thinker and innovator. The notion of creativity and innovation is associated with the process of entrepreneurship because of the fact that creativity is often considered as the personality trait of the entrepreneur. (Thompson, 2004) . This approach tends to focus on the role of people in developing creative and innovative enterprises. Many researches have suggested that the competitive advantages which entrepreneurs enjoy over their competitors are based on their internal resources. These internal resources are often linked with knowledge based resources which are ultimately linked with the innovation and creativity of the entrepreneurs. (Mosakowski, 1998). These knowledge based intangible resources flourish creativity and innovation in entrepreneurs. However these knowledge based intangible resources