Perceptual maps are what the customer the customer thinks of the brand, the axes of the perceptual map are the attributes of the brand and the customers perceptions are then plotted on the map. The perceptual maps help to compare attributes of different competitors.
A. Is the repositioning of the product in the simulation as you expected it to be? Why or Why not.
Yes the repositioning in the simulation was an excellent choice and what I expected, Thorr motorcycles has a very loyal high end older customer that has extra income to be able to support that lifestyle that they like. The problem with Thorr is that it only offers for one specific customer base and does not target any other group other than the upper older income. In order for the company to be and stay competitive they must target a group of the younger age with less disposable income and offer them a trendy, less expensive motorcycles with available upgraded options and many marketing tools utilized to attract this target market.
The creation of a new product in order to reposition the company back into the market and gain market share from other competitors.
A. What would a perceptual map of your own industry look like? Where would you get the data for your industry?
The perceptual map of Wal-Mart would include the following parameters, low prices, customer service, brand name loyalty, in-stock positions, and availability of products. Wal-Mart would be compared to Target and K-Mart in the perceptual map. The data for the industry could be gathered at POS or point of sale of the merchandisers. The information could also be gathering through marketing surveys sent out to past customers either via mail or telephone survey. The perceptual map of Wal-Mart would look really high for...