Perceptual Maps Simulation Strategy
Perceptual mapping involves a realistic graphic method used in marketing to recognize consumers' observations of products or companies relative to their competitors. A perceptual map describes how a certain product or service and its competitors compare in relation to designated characteristics such as quality, price, or any of a number of other properties. The organization can ascertain a more accurate perceptual map by using detailed consumer opinion studies; however, a basic understanding of the marketers’ own industry provides him or her with intuitive perceptual maps. The x/y axis graph shows the results of the perceptual mapping technique where each of the four axis lines represents a product characteristic.
The Cruiser Thorr Motorcycles Situation
An important aspect of Thorr Motorcycles, Incorporation communicates a Lifestyle image. The influence to purchase a Cruise Thorr is based on what the organization represents. Visual representations of the customer’s outlook on this brand show the relationship on the perceptual map. Cruiser Thorr’s lifestyle image represents masculinity, mobility and freedom; however they do come with a high price tag that often exceeded or did not fit in the budget or market of the younger motorcycle enthusiast. After losing ground in the market because of high pricing and a lifestyle image that represented the older generation, the organization agreed to look at options to spur sales again. The projected image of Thorr Motorcycles needed a change to increase sales and make Cruiser Thorr profitable once more. The creation of a new marketing plan through the help of simulation and the use of the perceptual map assisted in building an effective marketing and repositioning plan for the motorcycle brand. The primary situations in the simulation indicated a decrease in...