Using Perceptual Maps in Marketing Simulation Summary
Perceptual maps advance a company’s existing product on the market by mapping customer expectation of the product. The motorcycle company Thorr Motors perceptual maps were used to create a marketing plan to help maintain a high trademark image of the company’s motorcycles. The Marketing Dictionary (2010) definition of perceptual maps is a “process by which consumers' perceptions of an existing product are charted.”
(2x01) The sales of the Thorr Cruiser are decreasing. The reason this is occurring is that Thorr’s Cruisers target customers are getting older and are starting to outgrow the means of what the Thorr’s cruisers ...view middle of the document...
The last parameter chosen was quality engineering. The choice to use lifestyle image, services offered, price, and quality engineering were the proper parameters to use. The parameters that were selected were essential to the perceptual map and gave the best point of view as different to the other options.
For Phase two, the perceptual map decides the position of the Cruiser Thorr and this position has not helped sales. This scenario wants the marketing manager to make a marketing plan that will either reposition the Cruiser Thorr or start a new motorcycle. Upon researching threats and weaknesses of Thorr Motorcycles, the decision was to build a new motorcycle, the RRoth, which will take the attention of younger customers.
With the new motorcycle the marketing mix needed to be determined. The price for the new RRoth was set between $13,000 and $15,000. This price range was chosen because earlier surveys confirmed that the younger customers were a lot more interested in cheaper motorcycles. The kinds of advertisements picked were sponsored events at Daytona, offering insurance and protection plans, free test rides, publicize through Hollywood films, and providing giveaway products. These were all selected because of the high quantity of demand these types of marketing plans would have on younger customers. The places chosen to promote the Roth were the internet (Manufacturer’s Web site), Dealers, and Distributors. These alternatives were selected because of the accessibility to younger customers, especially the internet. The services selected were training to sellers, customization options, and financial services. Training to dealers was chosen so that the dealers can give thorough and correct information about the products sold. Customization options were selected because this would add to the cool and youthful image of the RRoth motorcycle. Financial services were selected because the younger customers showed an interest in financing options. Choosing to start a new motorcycle was a good decision. The marketing mix options selected were the most positive for the formulation of a differentiation plan.
Phase three, It has been a year since the marketing plan was applied and it is now time to decide if the strategies have or have not been an achievement. Consumer perceptions of the Cruiser Thorr and the Roth have been surveyed and a perceptual map will show whether or not the marketing activities have been an accomplishment. The marketing manager has to interpret market research to plot brand attributes of Cruiser Thorr. In addition, attributes relevant to the RRoth need to be selected and interpreted to create Roth’s perceptual map.
The Cruiser Thorr was rated in lifestyle image at 9 because at first this was rated very high. A nine would be most suitable. For price a rate of 4 was chosen because customers saw this particular motorcycle as pricey compared to other brands. A rating of 4 or 5 would be suitable. The...