University of Phoenix
Thorr Motorcycles: Perceptual Map Marketing
Molded and marketed as Thorr Motorcycles, attributes were modeled after the Norse God of Thunder, Thor—strong, honest, and simply reliable product design, and loyal customers lived a lifestyle of freedom, mobility, and masculinity. Successful marketing, which promoted high- end motorcycles as an integral component of one’s lifestyle had served the purposes for sustaining Thorr with a 40% market share—iconic brand devotion (Apollo Group Inc., 2008).
Over the past months, sales have been waning largely because of changing market demographics —aging customer base, younger generations influx, and competition.
The high-end lifestyle image and pricing was not appealing to the younger set; the time was ripe for seizing the opportunity for repositioning Thorr’s image in an expanding market. Assessing how consumers perceive brands, what factors are most important, and comparing attribute preferences by mapping the various aspects or dimensions is a process for creating perceptual maps—a statistical process, which is just one aspect of marketing research.
Determining the most appropriate attributes to include in constructing the mapping model begins with Phase I, Phase II developing a marketing plan after assessing the feasibility for repositioning the existing Thorr machine, or introducing a new brand for sparking interest, desirability, and Phase III controls for gauging the effectiveness of the marketing plan and constant monitoring for a readied stance for making seamless, cost effective adjustments.
Discovering market position begins with an assessment of consumer perception for Thorr Motorcycles, in relation to competitors by choosing pertinent parameters, which clarifies strengths and weaknesses. Information gleaned from Phase I will provide the framework from which positioning strategies, new product development options, and... [continues]
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