"Using Perceptual Maps in Marketing"In the simulation "Using Perceptual Maps in Marketing," a perceptual map was constructed and used to create a marketing plan for Thorr Motorcycles. Parameters were chosen that were fundamentally important to the Thorr products and customers. For each of the three phases of the simulation, the situation, recommended solution, and results will be discussed. The relationship between differentiation and positioning of products and services will further be discussed following the impact of the product life cycle on marketing.
OverviewThorr Motorcycles, Inc. is a $5 billion company. They manufacture a range of motorcycles and produce more than 200,000 units per year. Furthermore, Thorr Motorcycles has additional programs such as T-Shirts, motorcycle shoes, small leather goods, toys, and other consumer items. The sales of Thorr's existing product, Cruiser Thorr, are decreasing. The age group of 35 to 50 years is the target customers. However, they are growing older and are no longer interested in the lifestyle that Cruiser Thorr symbolizes.
Additional factors include the younger customers preferring low-cost motorcycles and not identifying with Cruiser Thorr's Lifestyle Image. Cruiser Thorr is losing market share and needs to reverse the trend with a new marketing plan (Apollo Group, 2004). This will be accomplished by using a perceptual map.
Simulation Phases"A perceptual map, which is a visual representation of the customer's perception of the brand helps in differentiating a company's marketing from that of its competitors. A perceptual map can have several parameters, which may overlap in their descriptions. These overlapping parameters are the superficial attributes of the product, and several of them often define a product's fundamental parameters" (Apollo Group, 2004).
First PhaseIn the first phase of the simulation, four parameters were picked that were relevant to the motorcycle industry and that reflected the highest potential for Cruiser Thorr. A...