- August 2, 2012
- Posted by: essay
- Category: Free essays
Perceptual maps may contribute consistently to the successful development and promotion of products and its positioning in the market. In this respect, it is important to underline that along with price, the formation a perceptual map of a product, such as Cruiser Thorr, involves the formation of the lifestyle image, service offerings and quality engineering. In actuality, it is possible to estimate that the price of the product basically derives from its lifestyle image, service offerings and quality engineering, which define the demand for the product and the interest of customers to the product. In such a situation, it is very important to implement successful each stage in the process of the formation of a perceptual map since it can define the further success of the product introduced in the market.
On analyzing the current situation in the market, it is possible to estimate that the formation of a successful lifestyle image can, to a significant extent, determine the commercial success of the product. In such a context, the CruiserÂ Thorr has quite an effective lifestyle image since it deals with traditional values which owners of such vehicles appreciated. In fact, the lifestyle image of the Cruiser Thorr lays emphasis on masculinity, mobility and freedom. It proves beyond a doubt that the lifestyle image contributes to the formation of a positive image of the brand of the company and its product. In this respect, it should be pointed out that in such a way, the company can achieve a high customer loyalty if the lifestyle image of its product matches the expectations of the target customer group.
At the same time, the existing lifestyle image of the Cruiser Thorr is mainly oriented on active, young males, while the rest of potential customers who could buy this product are left aside. Obviously, today it is necessary to enlarge the lifestyle image of the Cruiser Thorr attracting people at the age of 30-45 or even more as well as it is possible to attempt to make the lifestyle image more diverse in order to attract females as potential customers. However, such a step will likely to undermine the traditional image of the product and decrease its popularity among its target customer group. This is why it is possible to recommend focusing on the creation of the lifestyle image of the Cruiser Thorr as a product for people at all ages, laying emphasis on such ideas as Cruiser Thorr: one bike ”“ one life or Cruiser Thorr – the bike for life.
As a result, it will be possible to enlarge the target customer group and what is more the buying power of older categories of customers, for instance, after 40, is consistently higher than the buying power of customers who are in their 20s. In such a way, through the change or, to put it more precisely, improvement of the lifestyle image of the Cruiser Thorr, it is possible to increase sale rates and company’s revenues and, what is more important, the target customer group will be enlarged consistently.
Furthermore, it is necessary to focus on service offerings since they can provide the product, Cruiser Thorr, with the high degree of attention from the part of potential customers. In fact, service offerings may be the major attraction for customers along with the lifestyle image of the product, while in the time when the national economy suffers from recession and stagnation, the service offerings may be particularly useful. In this respect, it should be said that the existing service offerings are basically correct and quite effective. To put it more precisely, financial services provide the essential information to customers making the acquisition of the product easier, faster and more convenient for the customer since the variety of financial plans allows customers choosing the one which meet their interests and buying power. However, customization options may be even more important because such products as Cruiser Thorr is mainly oriented on customers who want to buy unique products. At this point it is possible to recommend enlarge company-customer communication in order to provide the customer with an opportunity to customize Cruiser Thorr in a unique way that means that the use of conventional or standard customization services is not very effective and should be replaced by individual and unique customization that may involve professional art designers. Finally, dealers should be not only trained but they should also observe the process of manufacturing of Cruiser Thorr and get possible larger information on the further technical services the company can offer to customers.
In such a way, it will be possible to achieve the higher level of the customer satisfaction since they will receive services of the high quality, which are really unique and a few companies can offer such services in the market.
Finally, it is necessary to remember about the quality engineering. In the situation, when the competition is growing, the quality becomes a key factor that defines the success of the product. In this respect, Cruiser Thorr has quite a good position in the market since the quality of this product is high. In this respect, it is possible to recommend laying emphasis on the history and extensive experience of the company in manufacturing such products as Cruiser Thorr. This will lead to the growing confidence of customers in the quality of the product and, therefore, they will readily buy this product, even if its price is higher than that of major competitors. Â In addition, it is possible to recommend focusing on safety of the product since traditionally bikes are considered to be as products which expose its owners to higher risk of an accident and serious injuries than cars. This is why the company should develop some unique technology which increases the safety of Cruiser Thorr or, else, it is possible to equip the product with advanced break assist systems which minimize the risk of accidents. As a result, customers will feel more secure while using this product.
The positioning and differentiation are also very important because they allow the company to clearly define its target customer group and work with it that allows maximizing the efficiency of the promotional campaign. On the other hand, the repositioning of Cruiser Thorr seems to be a bit narrowed and needs to be enlarged since the product can be used by different categories of customers and not young males only.
In this respect, life-cycle of the product defines the extent to which customers will get used to Cruiser Thorr, since its life-cycle does not exceed several years, for instance 5-7 years, but as a person grows older he can find the positioning inconvenient for him since it is oriented on young customers. Thus, the enlargement of the age of the target customer group is practically essential.