For my first assignment as Marketing Manager for Cruiser Thor I need to create a new marketing plan for an existing product in order to change its trend because sales of the existing Thorrs Motorcyle are decreasing while the motorcycle industry is doing just fine. This is due to its target customers because they are growing older than the range of age the product was intended for. To determine the company's position in the market I will need to use a perceptual map.
Perceptual mapping is a marketing technique in which the consumer's views about a product are traced or plotted on a chart. Respondents are asked questions about their experience with the product in terms of its performance, packaging, price, size, etc. Theses qualitative answers are transferred to a chart called a perceptual map using a suitable scale and the results are employed in improving the product or in developing a new one (businesdictionary.com)I
chose four parameters that were crucial in order to create the perceptual map for Cruiser Thor. The first parameter is lifestyle image which plays a vital position in the motorcycle industry because of the weight the products image plays for the potential customer. My second choice is quality engineering; it goes by the hand of lifestyle image. Quality engineering covers almost all the characteristic of manufactured goods. It covers attributes like the design and style of the product, its quality, and individuality.
Price is my third option and to me it is a very important parameter. The price a product has helps a potential customer decide whether to purchase a product or not, along with the image. The image is the first thing a customer sees, if the image captures a customer's eyes then he or she will consider the purchase if it has the...