Using Perceptual Maps in Marketing
Thorr Motorcycles manufacturers a wide variety of motorcycles and produces more than 200,000 bikes per year, as well as a five billion dollar company. Thorr Motorcycles service includes dealer training, dealer software packages, motorcycle rental, and riding training. The age group of target customers has always been 35 to 50 years old. However, as the company grows, they are no longer interested in the lifestyle that Cruiser Thorr symbolizes. The new target will include the younger customers preferring low-cost motorcycles. This simulation will show each of the objectives defined and the final outcome based on the decisions made.
The first objective that was tasked was determining the parameters for the perceptual map. The purpose of the map is to show a visual of what the customer thinks of the brand. This map will identify the customer's needs and wants. The brand will be shown differently on a map depending on the customers.
Diversification (marketing strategy)
English: A simple binary tree diagram illustrating...
MOTORCYCLE PLATES ---DISPLAY BOARD #3, USA and POS...The value of a brand to one customer may be completely different to another. When determining the fundamental parameters, only four should be chosen, because more than four will confuse the customer. The four parameters that were chosen for this simulation were: Lifestyle Image, Price, Service offerings and Quality Engineering. These four were the most important ideals and attributes in my simulation. The choices that were made were the correct ones. Lifestyle Image is very high and the company maintained that by improving their services. There were product surveys completed and THORR was known as the most popular. The price is what drives the product and the services offered is what drives the product. The services offered are a positive marketing tool for the product. Some of the services that they offer include: motorcycle rentals, rider training, dealer training, and dealer software packages.