Using Perceptual Maps in Marketing Simulation: Thorr Motorcycles - MKT / 421 - UOP

Essay by THENEWYORKERUniversity, Master'sA+, August 2006

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THORR Motorcycles is a billion dollar company that manufactures motorcycles and also sells clothing products and other consumer items. They sell more than 200,000 units per year and shows continuous growth. They offer services including rider training, motorcycle rentals, dealer training and dealer software packages. The company is known for their high brand image in the market. The purpose of this simulation was to focus on three main objectives. The first objective was to choose the proper parameters and construct a perceptual map. The second objective was to create a marketing plan with a budget of $13 Million determining whether to reposition the company or to launch a new product. The last objective was to determine the parameter values for the future of the company. 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. 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...