"Using Perceptual Maps in Marketing"
Company OverviewThorr Motorcycles, Inc. is a $5 billion co.; which manufactures a range of motorcycles, and produces more than 20,000 units per year. It also licenses programs to sell T-shirt, motorcycle goods, leather goods, toys, and others consumers goods. Their service includes dealer training, dealer software packages, motorcycle rental, and riding training. The company enjoys a high brand image in the market (especially in the 651+ cc heavyweight cruiser segment) and controls a 40% of the share in an oligopoly market.
In the simulation, I needed to formulate positioning strategy, and constructed a perceptual map beginning with its parameters. Summaries of the simulation scenarios are as follow:1st Scenario - May 1, 2x01 The motorcycle industry is growing annually, but sales at Thorr Motorcycles Cruiser Thorr (priced at $25,000) is decreasing. This is because its target customer (age group 35-50 years) are growing older and are no longer interested in that kind of lifestyle. Other factors are younger customers (age group 21-35 years) that prefer lower cost motorcycles, because they do not have large disposable income. The competitors are also getting into Cruiser Thorrs market share.
My job as Marketing Manager was to determine the market position of the company using a perceptual map. I needed to choose four parameters that reflected the highest potential for Cruiser Thorr. My recommendation on the four parameters I chose were; product design and styling, cool, price, and service offering. The result was Perception needs focus. The fundamental four parameters are Price, Lifestyle, Service offering, and quality engineering. I learned that the four parameters (that I chose) are others attributes that provide a limited perspective of a brand. They can be used to plot a perceptual map, but they are not fundamental parameters. I have learned that this may not make them useful for a...