July 20, 2011
Perceptual maps help to improve a company’s current product on the market by mapping consumer expectation of the product. The motorcycle company Thorr Motors perceptual maps were used to create a marketing plan to aid in maintaining a high brand image of their motorcycles. This paper is based on the three phases in the Thorr Motors simulation. The situation, recommended solutions, and result for each phase will be discussed. Lastly, the different marketing components addressed in the simulation will be summarized. Phase I
Sales of the Cruiser Thorr are decreasing. The decrease is because the Cruiser Thorr’s target consumers are aging and their tastes have begun to outgrow the lifestyle that Cruiser Thorr symbolizes. Another issue is that younger consumers are more interested in lower priced motorcycles because of their lower personal disposable incomes and they do not identify with Cruiser Thorr’s lifestyle image. This scenario wanted to determine the Cruiser Thor’s position in the market by choosing four relevant parameters that will reflect the highest potential. For phase I the parameters chosen were lifestyle image, services offered, price, and quality engineering. Lifestyle image was chosen because the image for the Cruiser Thorr was becoming outgrown by the aging target audience and was not identifiable with younger consumers. The Cruiser Thorr’s lifestyle image is set very high so any vital information gathered will be highly useful to maintain that level of image that satisfies both an older and younger audience. Another parameter chosen was service. This parameter was chosen because compared to their competitors the services offered by the Cruiser Thorr are limited. The more frills a product comes with, the more it may heighten the desire for it. Price was the third parameter that was chosen. Price was chosen because for many consumers price is one of the most important factors in making a buying decision. Finding the right balance between how much is too much and how low is too low is crucial in determining the appropriate price tag to entice consumer interest. The forth parameter chosen was quality engineering. Engineering was chosen because of the fact that the Cruiser Thorr will not be able to maintain a high brand image without this feature (University of Phoenix, 2011). The decision to use lifestyle image, services offered, price, and quality engineering were the appropriate parameters to use. The parameters that were chosen were fundamental to the perceptual map and gave the best perspective as opposed to the other options. Phase II
The position of the Cruiser Thorr is determined by the perceptual map. This position has not helped sales. This scenario calls for the marketing manager to create a marketing plan that will either reposition the Cruiser Thorr or launch a new motorcycle. Upon researching threats and weaknesses of Thorr Motorcycles, the decision was made to launch a new motorcycle, the RRoth, which will grab the attention of younger consumers. With the new launch the marketing mix needed to be determined. The price for the new RRoth was set between $13,000 and $15,000. This price range was chosen because earlier surveys conducted showed that the younger consumers were more interested in lower priced motorcycles. The types of promotions chosen were sponsored events at Daytona, offering insurance and protection plans, free test rides, publicize through Hollywood films, and providing giveaway merchandise. These were chosen because of the high amount of appeal these types of promotional methods would have on younger consumers. The places chosen to promote the RRoth were the Internet (Manufacturer’s Website), Dealers, and Distributors. These options were chosen because of the accessibility to younger consumers, especially the Internet. The services chosen were training to dealers, customization...