Perceptual Map

Good Essays
Topics: Marketing
Using Perceptual Maps in Marketing
Thorr Motorcycles, Inc. is a billion dollar manufacturing company, producing over 200,000 units per year. Additionally, Thorr offers services including dealer training, dealer software packages, motorcycle rentals and rider training. Thorr’s brand image is high, and it currently holds 40% of the market. This simulation asks students to take on the role of Marketing Manager.
The first situation states that sales of the Cruiser Thorr are decreasing because target customers are aging and are no longer interested in the lifestyle portrayed by the Cruiser Thorr. Additionally, younger customers with smaller disposable incomes are looking for less expensive bikes. A new marketing plan is needed to reverse these
…show more content…
I chose three of four fundamental parameters. Instead of the Cool factor, I should have focused more on Services Offered. Services are simple but time-tested ways of ensuring customer loyalty and keeping dealers and distributers happy. Situation two informs students that the perceptual map reveals Cruiser Thorr’s position in the market and that Thorr’s position has not been improving sales. The student must decide if he or she will enhance current positioning strategy or change the position completely. Students are tasked with creating a marketing plan that will either reposition Cruiser Thorr or launch a new motorcycle, RRoth. Students are given a budget of 13 million dollars to implement the new marketing plan.
I spent $12,649,000 for the new marketing plan. My decision was to price the RRoth at $17,000 to $19,000, promote by offering insurance and protection plans, hiring celebrities for endorsements, sponsoring events such as Daytona and publicizing through Hollywood films. The RRoth would be distributed through dealers and the Manufacturer’s website via the internet. Services would include customization options, financial services, training to dealers and club
…show more content…
I misinterpreted the Service Offerings parameter. According to the research, Service Offerings were not sufficient or were unsatisfactory prior to our offering a range of services including dealer training, financial services, and customization options. A higher level of seven would have been more appropriate.
Regarding the parameters for RRoth, I correctly chose to map Price and Cool. I should, however, have included Lifestyle and Quality Engineering instead of Service Offerings and Product Design and Styling. I was spot on in rating Price as an eight, but should have increased Cool to a level of eight instead of seven.
Differentiation and positioning go hand in hand to determine the success of a product. A company can have a product that stands out among the rest, but without proper positioning, the product will flop. Moreover, if a product is in the right position, but does not stand out among the rest, success will be limited. A company looking for true success must be unique and position itself as such. In short, the company must penetrate the minds of the buyers and become a

You May Also Find These Documents Helpful

  • Good Essays

    Using Perceptual Maps in Marketing MKT/421 Using Perceptual Maps in Marketing Thorr Motorcycles is a very successful business based in South Dakota sells motorcycles and motorcycle apparel. Thorr Motorcycles is a multibillion dollar company that manufactures more than 200,000 motorcycles each year. Thorr has long had an image of producing high-end machines and has enjoyed a 40% share in the market. A recent census indicated that Thorr needs to improve its current product to boost…

    • 1267 Words
    • 6 Pages
    Good Essays
  • Good Essays

    Using Perceptual Maps in Marketing Simulation Summary Thorr Motorcycles is a $5 billion company producing a wide range of motorcycles. In addition to producing motorcycles, the company, also have licensing programs; sell T-shirts, shoes, toys for the motorcycle. The company offer services in dealer training, dealer software packages, motorcycle rental, and rider training (University of Phoenix, 2013). The sales of high quality of motorcycles are declining. The cost of a princely motorcycle was $200…

    • 1010 Words
    • 5 Pages
    Good Essays
  • Good Essays

    Using Perceptual Mas in Marketing Summary Christy Gehr MKT/421 February 21, 2013 Professor Jose Siqueira Using Perceptual Maps on Marketing Simulation Summary Throughout this paper the situation of Cruisers Thorr Motorcycles will be discussed along with suggestions and recommended solutions, and finally the results. Isolation and positioning of products or services will show in this paper. Additionally, it will debate how…

    • 772 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Perceptual Maps in Marketing The use of perceptual maps is a strong tool in the marketing world. Perceptual maps visually represent what the consumer thinks about a product or brand. To make a perceptual map several attributes of the product are placed on different axis and from that point a grid is made to represent how strong or weak the consumers view each attribute. Making a perceptual map is a good way for mangers to decide on a good marketing strategy for the product, and which attributes…

    • 1352 Words
    • 6 Pages
    Powerful Essays
  • Better Essays

    Perceptual Maps in Marketing Thorr Motorcycles is a company that manufactures 200,000 motorcycles a year. It also licenses T-shirts, shoes, leather goods, toys, and other consumer items. The company currently has a high-brand image manufacturing high-end motorcycles and owns approximately forty percent of market share. The challenge for Thorr is that the industry is growing, but sales of its high-end product are decreasing. The reason for this loss of market share is that the target customers of…

    • 1055 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Perceptual Maps in Marketing This paper will provide an overview of the impact on product life cycle in marketing and the impact the product life cycle has on a product based on a simulation provided by the marketing course. For a better understanding of perceptual Maps, this concept could be defined as graphic illustrations of data provided by rating scales (Business Dictionary, 200). The map on this simulation will be used as valid parameters to develop a marketing strategy. In Marketing…

    • 1079 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Perceptual Maps Simulation I found this simulation to be very interesting. First of all, it was about motorcycles, and what guy doesn 't find that to be an interesting topic? Regarding the lessons it contained for marketing though, it was also interesting while still being entertaining as well. The situations it presented were realistic, while not being so overcomplicated that the material it was trying to present got lost. In the following paper I will discuss the situations from the simulation…

    • 1048 Words
    • 5 Pages
    Better Essays
  • Better Essays

    Using Perceptual Maps in Marketing Simulation Summary Inge Webster January 18, 2014 Using Perceptual Maps in Marketing Simulation Thorr Motorcycles is a manufacturer of different range of motorcycles, which carries a wide variety of products such as shoes and toys. The image portrayed from the company provides its customers the freedom, masculinity, and mobility of all its products. Thorr Motorcycles is a company that offers a variety of services with dealer training, dealer…

    • 1163 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Using Perceptual Maps in Marketing Simulation Summary MKT/421 September 19, 2013 Using Perceptual maps in Marketing Simulation In the University of Phoenix simulation Thorr Motorcycles, Inc. is a $5 Billion company, which offers the consumer many styles of motorcycles and they produce more than 200,000 units per year. They sell everything from t-shirts to toys and leather accessories. In each of the three major phases in using perceptual maps in marketing simulation which are the perceptual…

    • 1044 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Using Perceptual Maps in Marketing Simulation Summary MKT 421 Instructor: Ken Metz October 7, 2013 Using Perceptual Maps in Marketing Simulation Summary The situation consists of me constructing a perceptual map to create a marketing plan for Thorr Motorcycles. The perceptual map will be based off of parameters fundamental to the product and significant to the customer. I am the marketing manager for CruiserThorr. We are trying to use the parameters to market a new and innovative…

    • 1166 Words
    • 5 Pages
    Better Essays