...Using Perceptual Maps in Marketing Krissinda Richards MKT 421 December 21, 2011 Dr. Dyrren Davis Using Perceptual Maps in Marketing In the world’s market things are constantly changing. Products are introduced, have a growth period, then it starts to decline and eventually replaced with something new.The Thorr motorcycle simulation describes how the product life cycle of the Cruiser Thorr develops and then slowly declines as time and people change. In this situation, the CruiserThorr has had a lengthy product life cycle and the know the question is should the company think of new ways to reposition the Crusier Thorr in the market to appease the next generation or come up with a newer more fashionable model to replace it. Thorr Motorcycles must determine the motorcycles position in the market using a perceptual map. This map will chart the consumer’s views about the Cruiser Thorr and help the company make a final decision. Perceptual Map In the first step of using the perceptual map is selecting the parameters in which to reposition the cruiser in the market. The optimal parameters chosen are the lifestyle image, price, service offerings, and quality engineering. The Lifestyle image is the most powerful characteristic because it is design to persuade the customer buy into the image and not the functional attributes of the product. Quality engineering covers the product design, engine capacity and design, styling and the uniqueness of the product. These are important...
Words: 711 - Pages: 3
...Marketing Mix Fontineese Green MKT/421 November 11, 2013 Jeff Lewis Marketing Mix Marketing mix is defined as a planned mix of the controllable elements of a product’s marketing plan commonly termed as 4Ps: product, price, place, and promotion. These four elements are adjusted until the right combination is found that serves the needs of the products customers, while generating optimum income (Business Dictionary.com, 2013). When a company is marketing their products, it is useful to reduce all the variables in the marketing mix to four basic ones: * Product * Place * Promotion * Price In order to create the most effective marketing mix, the product has to have the right features. Keep in mind that Product is not limited to physical goods. For example, the Product of H & R Block is a completed tax form (University of Phoenix, 2011). Place is concerned with all the decisions involved in getting the “right” product to the target market’s Place. This happens through a channel of distribution. A channel of distribution is any series of firms (or individuals) that participate in the flow of products from producer to final user or consumer (University of Phoenix, 2011). Distribution decisions include market coverage, channel member selection, logistics, and levels of service (“Quickmba”, 1999-2010). Promotion is the business of communicating with customers. It will provide information that will assist them in making a decision to purchase a product...
Words: 930 - Pages: 4
...Domestic and Global Marketing Marketing MKT/421 Assignment 5, Domestic and Global Marketing • The present assay will review the meaning of domestic and global marketing as interpreted by the current author from course reading and online research. The paper will open with a description of domestic and global marketing taken from sources he has pulled from the internet for comparison. The author will discuss how these two types of marketing can be put into practice by examining two separate organizations. The following exercise is facilitated to build on the author’s understanding of place and promotion within marketing, and how regional influence is involved. • Marketing Comparison: Domestic and Global An online dictionary and corporate encyclopedia describe marketing as a “business activity of presenting products or services in such a way as to make them desirable” (Microsoft Encarta, 2007). Marketing needs channels of distribution to sell and deliver products or services to buyers which may include distributors, retail markets, and wholesalers (Kotler, Keller, 2006, pp. 25-26). A marketer uses a service channel, which may include storage brokers, transportation facilities, warehouses, banks, and insurance agencies who work as a liaison for the marketer (Kotler, Keller, 2006, p. 26, 89). There are two branches to marketing that are impacted by regional influence: domestic marketing and global marketing. The current author found two definitions for a branch...
Words: 1907 - Pages: 8
...Marketing Tina Frank MKT/421 July 15, 2013 Roger Houthoofd Marketing has taken on new meaning in economic s these days. It used to be that a person heard the word “market and the consumer would think of a store to purchase items needed for personal or home needs. When a person thinks the term “market” he or she usually think of advertisements. In this paper will define what marketing is. The importance of marketing in organizational successes will be addressed with examples of the business world to support the explanation. Marketing is defined as “a process of production and exchange that is concerned with the flow of goods and services from producer to consumer” (Marketing, 2013, na), Marketing is a wide spectrum that starts with people who develop the product to the simplest handling of the product. While in the past marketing of a product was solely done by word of mouth and channels to get merchandise was slow, marketing still existed usually in shops or merchandise stores. With the increase in use of the automobile and paved roads companies have had an easier time to get goods from one place to another. With the invention of the Internet, television, and radio, it has become easier to market items that consumers need and want. With this advance in economics and technology new stores popped up nearly...
Words: 1069 - Pages: 5
...Marketing Research: Kudler Fine Foods Donna Gordon MKT/421 May 24, 2012 Earnest Broussard, Facilitator Marketing Research: Kudler Fine Foods Marketing research is one of the most important steps to planning an effective market strategy; by understanding where the people who are in need, and interested in this type of market. The information obtained in market research is analyzed to develop new information to assist marketing managers in making the best decisions on an effective marketing strategy and tactics (Kerin, Hartley & Rudelius, 2011) Kudler Fine Foods (KFF) is the virtual company that is being evaluated to recognize which important areas were not part of the research before expanding the business. Marketing research is important to Kudler Fine Foods because it will help to identify customer services issues to better strategize their marketing plan (University of Phoenix, 2011). By analyzing the importance of competitive intelligence we can determine the errors of Kudler Fine Foods that were not determined prior to expanding the business (University of Phoenix, 2011). Kudler Fine Foods Kathy Kudler was a young Vice-President of Marketing for a large contractor who led a hectic life of travel while working for someone else. She found an outlet through her love of gourmet cooking (University of Phoenix, 2011). While shopping for ingredients she stumbled onto an opportunity for an epicurean food shop in La Jolla, so she obtained financing...
Words: 1238 - Pages: 5
...Using Perceptual Maps in Marketing MKT/421 May 9, 2012 University of Phoenix Thorr motorcycles are a 5.5 billion dollar company that produces more than 200,000 units annually. The Thorr Company licensed dealers to sell t-shirts, leather goods, and toys. The Thorr motorcycle company recently saw a decline in the Thorr cruiser that in the past has been the company’s top-selling cruiser. Sale declines are attributed to target age groups no longer taking interest in the lifestyle that the Thorr cruiser portrays and also a younger group of customers. There are main three objectives of this simulation that will be addressed. The first Task and objective was to identify the appropriate parameters and complete the perceptual map. The second task and objective was to create an effective marketing plan with an budget of $13 Million dollars and the decision whether to launch a new product or reposition the company altogether together. The final objective was to identify the parameter values that would take the company into the future. The first objective was determining the perceptual map parameters. The map will show a realistic visual of how consumers feel about the products and services being offered. There were four parameters chosen and the chosen parameters were lifestyle image, quality engineering, service offering, and price. The parameters chosen were chosen because they were the most important aspects of marketing located in the simulation. The lifestyle image...
Words: 1091 - Pages: 5
...Kudler Fine Foods Thomas Gilbert MKT 421 May 8, 2012 L. Denise Lozano Abstract This paper is a discussion of Kudler Fine Foods and the importance of marketing research in relation to the organizations marketing strategy and tactics. The paper will identify areas where additional market research is needed, and analyze the importance of competitive intelligence and analysis regarding the development of Kudler Fine Foods’ marketing strategy and tactics. Kudler Fine Foods Kudler Fine Foods is located in San Diego, and is a local upscale specialty food store. Kudler provides products and services at three locations (La Jolla, Del Mar, and Encinitas). These stores are located in fashionable shopping outlets with the stores occupying about 8,000 square feet of sales space. Kudler offers a variety of domestic and imported products at each location. Product variety includes: Baker and Pastry Products, Fresh Produce, Fresh Meat and Seafood, Condiments and Packaged Foods, and Cheese and Specialty Dairy Products. Kathy Kudler is the founder of Kudler Fine Foods. Kathy opened her first store in 1998 and was followed by two additional store openings in 2000 and 2003 (University of Phoenix, 2011). Strategic Objective Kudler Fine Foods strategic objective is to increase loyalty and profitability of their consumer. The objective is to be achieved through three initiatives. These initiatives include: expanded services, a frequent shopper program, and increased efficiency....
Words: 1142 - Pages: 5
...Strategy and Positioning Paper Deopra Clayton, Alexander Reigstad, Jessica Baker, Sharitza Bailey Simia Sharp, Victoria Carthage MKT/421 March 7th, 2016 Professor Kenyetta Rivera SkypeSpecs SkySpecs is a rather new and up and coming company in the drone making industry. They started out as a group of engineers who has won multiple contests and have recently signed a contract with one of the largest companies in the wind energy business. Each aspect of marketing a product is important. Strategy and product positioning aids to make the product more profitable and assist with getting it to the correct markets. This is still a rather small company that is just being realized for its true potential. Next Energy recognized the unique opportunity that SkySpecs has and helped them form a partnership in the wind and utility industry. NextEnergy mentored SkySpecs, they helped them by finding them funding, they helped them make business decisions, helped them do research on the drone market, and most importantly helped them find the partnership they now share with UpWind Solutions. (Ellis, 2015) This strategic and positioning plan will discuss, how the marketing efforts and mix will change with each phase of the product life cycle. We will also describe, packaging that will be used and how packaging will add value to the product. Ending with developing a price strategy and what distribution channels will be used to sell the product and how each channel partner will add value. ...
Words: 1790 - Pages: 8
...Marketing Research for Kudler Fine Foods Joyce Liupaogo MKT/421 - Marketing April 9, 2012 Gregory Rankin Marketing Research for Kudler Fine Foods Marketing research is a type of business study that gathers records and analyzes data about consumers, competitors and the market. Marketing research can help create a business plan, launch a new product or service, expand into new markets, or fine tune existing products and services. Businesses use market research to configure which parts of the population will purchase their products based on variables such as age, gender, location and income level. “Marketing research finds the characteristics of target markets and plays an important part in an organization’s strategy of expansion (Kotler & Keller, 2012).” Kudler Fine Foods is an upscale specialty food store. Its mission is to provide customers the finest in selected foodstuffs, wines, and related needs in an unparallel consumer environment. “Kudler Fine Foods has experienced significant growth and is now focused on expanding the services, improving the efficiency of its operations and increasing the consumer purchase cycle as a means to increasing the loyalty and profitability of its consumers (Apollo Group Inc., 2011).” Marketing research is important to Kudler Fine Foods since they are expanding their services. Marketing research will help develop a plan for Kudler Fine Foods’ expansion and help them identify their strengths and weaknesses. In addition,...
Words: 1090 - Pages: 5
...\ Marketing Research Analysis MKT/421 March, 13th, 2013 Julio Nunez Marketing Research Analysis: Kudler Fine Foods In marketing we learn the various variables that companies use to market and strategize products or a message to a large base of individuals. The difference between selling a product and advertising a product is the amount of research that goes into determining who will buy the product. The most unique component about marketing is the target demographics such as age groups, gender, culture, ethnicity, and various other target audiences are the areas a marketing strategy would have to consider to be effective. With Kudler Fine foods you come to found that you have an organization that has adopted a simple motto, which has reflected in its overall success, which is “Provide their customers with the finest selected foodstuff, wines, and related needs in an unparalleled consumer environment” (University of Phoenix, 2008). As we have seen the Kudler Fine Food organization has branch into a three location in the California area. With a successful marketing strategy the Kudler Fine Food business with see a substantial increase in its business and expansion to more individuals...
Words: 931 - Pages: 4
...Kudler Fine Foods Market Strategy Analysis MKT 421 Ron Rosalik Kudler Fine Foods is a retailer of specialty food items in Southern California. Started by Kathy Kudler, Kudler Fine Foods specializes in high-end, fresh ingredients that are not available at conventional chain grocers. The company now has three locations and anticipates opening more in the coming years. Kudler also plans to expand existing locations by introducing cooking classes both in-store and in customer’s homes. (University of Phoenix, 2013) In order to meet their goal for expansion, both physically and in their products and services lines, Kudler Fine Foods must invest in additional market research to determine if these expansion plans are viable in their existing markets, as well as new ones. . Marketing research is essential to best determine which new product lines to introduce as well as what additional services consumers in the business’ area are willing to invest in, such as cooking classes or delivery services. Market research includes discovering many aspects about the surrounding area such as the income level of a specific area, the median age of its residents and their average household earnings. Market research also includes gathering data about the entire business. Gathering data about one’s customers, competitors, industry technologies, vendors, area distributors and other business aspects in an effort to make a company competitive in its marketplace is known as competitive advantage...
Words: 1110 - Pages: 5
...Marketing Research MKT/421 May 21, 2012 Ron Rosalik Marketing Research Kudlers Fine Foods “Research is to see what everybody else has seen and to think what nobody else has thought” (Szent, 2012). Kudlers Fine Food’s mission is to “provide their customers with the finest selected foodstuff, wines, and related needs in an unparalleled consumer environment” (Kudlers Fine Foods, 2008, para. 2). Kathy Kudlers, the founder of Kudlers Fine Food’s is enthusiastic about gourmet cooking. Opening for business, in 1998, since that date, continues to claim success with three accompanying locations, undergoing substantial growth by offering gourmet imported and domestic products. Operations proficiency is Kudlers goal, which in turn will increase profits. In order to reach objectives, Kudlers must focus on marketing strategies, tactics to promote the company’s new services. We will examine the marketing strategies and tactics, additional areas of needed marketing research, and identify the importance of competitive intelligence. Importance of Marketing Research Kudlers fine foods must focus on marketing research to introduce new products and find out customers’ needs and wants. Kudlers fine foods create a plan, accomplishing this specific task of creating a marketing strategy in a process of six steps. These include problem definition, developing an approach to problem, research design formulation, fieldwork, data preparation and analysis, report generation and presentation....
Words: 738 - Pages: 3
...Name Defining Marketing University of Phoenix MKT/421 – Marketing Prof. Date Defining Marketing Marketing is a process that involves the research, promotion, sell, and distribution of products or services to satisfy the customer’s needs. In this paper, the subject is to review several definitions of marketing, including a personal point of view. In addition, another area of discussion will be to explain the importance of marketing in organizational success, including examples from the business world. From my viewpoint, marketing involves more than selling product. It is a combination of methods that engages the production, promotion, and provision of goods and services to consumers and businesses. Marketing creates a preference for a particular product in the market. If the process is carried out effectively, the organization marketing a product will acquire new customers and retain existing customers. According to the American Marketing Association (2011), “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (Definition of Marketing, para. 2). This definition shows the range of activities involved during the marketing strategies. Another complete definition specify that “marketing is the performance of activities that seek to accomplish an organization’s objectives by anticipating customer or client needs and directing...
Words: 786 - Pages: 4
...Thorr Motorcycles MKT/421 April 14, 2014 Using Perceptual Maps in Marketing: Thorr Motorcycles Thorr Motorcycles, Inc. has a current worth in excess of five billion dollars and is manufacturing over 200,000 units annually. Thorr represents 40% of the total market which makes this company a leading name within the industry. Thorr don’t only sell motorcycles but offers dealership training, dealer software support and mechanical training. For customers, Thorr offers motorcycle rentals and biker training. The projected image of CruiserThorr is of “masculinity, mobility, and freedom”. Currently Thorr is experiencing a decline in sales and wants to know the reason. Thorr can survey customers as to their needs and desires in a motorcycle and then change accordingly (University of Phoenix, 2014). Phase I: Where is the Thunder? The problem is decreasing sales. “The motorcycle industry is growing annually, but sales of Thorr Motorcycles' existing product, CruiserThorr are decreasing.” Thorr's target market is mature individuals, over 40 years of age. Younger persons are generally less likely to afford the “Cruiser Thorr". Thorr needs to redesign the marketing strategy to increase its sales and attract new customers (University of Phoenix, 2014). Market position of CruiserThorr will be determined by using a perceptual map. Positioning on the map will be based on four fundamental parameters that can be used to promote Thorr...
Words: 1471 - Pages: 6
...Consulting Firm Transitional Life Care (TLC) Consulting Firm is the creation of Team B. This paper summarizes the type of consulting firm and the services TLC offers. Each team member’s roles in the firm and her duties and responsibilities are described. In addition, a detailed analysis of how the content and concepts from five undergraduate core courses facilitated the analysis, development, and preparation of TLC Consulting Firm. Mission Statement Transitional Life Care Consultant Firm’s mission is to facilitate client growth with transition through life events and life changes. TLC consultants strive to join with others to create the conditions under which all people with transitional needs will experience opportunities to develop and exercise competence; encouragement to make choices in the pursuit of personal growth, presence, and participation in the transitional process; respect and dignity through the promotion of protection from abuse and neglect and isolation; opportunities for self-advocacy that empower each client to articulate his or her needs; and reduce the negative stress surrounding many life changes. Summary of Firm and Services Transition from one situation to another can be stressful; it is a process of progress forward. The Holmes-Rahe Scale (1967) lists 43 life events and life changes that contribute to one’s stress level. Each member of this team has personal experience as well as education, which would benefit a consultant firm with a mission to...
Words: 2777 - Pages: 12
