Using Perceptual Maps in Marketing Simulation Summary February 4‚ 2013 Mark Brady MKT/ 421 Using Perceptual Maps in Marketing Simulation Summary THORR Motorcycles is a 5 billion dollar company that manufactures different kinds of motorcycles‚ in addition to their motorcycle products they use other product to promote their business such as motorcycle shoes‚ t-shirts‚ toys‚ leather clothing etc. They sell roughly around 200‚000 units per year and they are growing more and more every day because
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Perceptual Maps Having a strategic marketing plan needs direct input to insure the success that a product or service will have growth in the market. Perceptual mapping is one of the best ways to map out the product’s life cycle and the impact that it will have in the market. Perceptual maps are illustrations of data that have been compiled from the markets rating scales‚ and to develop a correct perceptual map these scales have to be fundamentally sound for the product and the consumers. When
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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. The Marketing Dictionary defines perceptual maps as a "process by which consumers ’ perceptions of an existing product are charted" (n.d.‚ para. 1). In this paper the three phases of the simulation‚ the situation‚ recommended
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Perceptual Maps and Marketing Karey Nickless MGT/421 November 27‚ 2012 Jeff Bean Perceptual Maps and Marketing Marketing a product will run a life cycle and will have to be re-evaluated and the marketing strategy and make some changes (General Marketing‚ 2012). The targeted market was not buying the motorcycle anymore‚ so the company had to change the market strategy and target a new market (General Marketing‚ 2012). Cruiser thorr had targeted the middle upper age group and will need
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Perceptual Map Presentation Car Industry Intro Popular car companies in the industry: Ford Chevrolet BMW Volkswagen Cadillac Subaru Nissan Jaguar Toyota Porsche Dodge Segmentation: Price and appearance Perceptual Map High-end Conservativ e Sports car Affordabl e Ford Motor Company Headquarters: U.S. Types of vehicles: Cars SUVs/Crossovers Trucks Commercial Hybrids/Electric Diesel Objective: Offer array of vehicles – small‚ medium
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plan positions that give their products the greatest advantage in selected target markets‚ and they design marketing mixes to create these planned positions. In planning their positioning‚ marketers often prepare perceptual maps that show consumer perceptions of their brand versus competing brands on attributes that are important to the consumer‚ whether functional or symbolic. Perceptual Maps are useful for these key reasons: Assessing strengths and weaknesses relative to competing brands along
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Using Perceptual Maps in Marketing Simulation Summary Melinda Roberts MKT/421 December 15‚ 2011 Gray Grubb Using Perceptual Maps in Marketing Simulation Summary In the simulation I was a marketing manager for Thorr Motorcycles. I was faced with three different situations. In order to decide on the right actions to take in the situations I had help from three co-workers; Benjamin Bao (Chief executive officer)‚ Chris Winter (Chief engineer)‚ and Meredith Kiligore (Vice President Brand
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PERCEPTUAL MAPPING Perceptual mapping From Wikipedia‚ the free encyclopedia This article does not cite any references or sources. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (February 2008) This article may need to be rewritten entirely to comply with Wikipedia ’s quality standards. You can help. The discussion page may contain suggestions. (March 2012) Perceptual mapping is a diagrammatic technique used by
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Understanding Perceptual Maps What is a perceptual map? A perceptual map is of the visual technique designed to show how the average target market consumer understands the positioning of the competing products in the marketplace. In other words‚ it is a tool that attempts to map the consumer’s perceptions and understandings in a diagram. The word ‘perceptual’ comes from the word ‘perception’‚ which basically refers to the consumers’ understanding of the competing products and their associated attributes
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