Perceptual Maps

Good Essays
Perceptual maps are used by companies to observe how they stand up to their competition through the eyes of the consumer. By giving a snapshot of what the consumer is thinking, perceptual maps help companies compare attributes such as price, design, and quality of a particular product. The quantity of attributes used in perceptual maps can be endless but usually only four attributes are used depending on the product. It is absolutely vital for companies to choose the correct attributes on the grid to collect and compare the correct data.
Acting as the Marketing Manager of Thorr Motorcycle Inc. part of the assignment was to formulate the company’s position strategy by constructing perceptual map. According to the simulation, the reasoning for the perceptual map was to reassert Thorr Motorcycle Inc. position back into the market in which the current product line, although successful in the past, had taken a major hit. After choosing parameters that are fundamental to the product and important to Thorr’s consumers, the first task was to reverse the downward trend of falling sales.
The attributes the marketing team felt were the first to be examined were lifestyle, price, product services, and engine capacity. According to the simulation 3 out of the 4 attributes chosen by the marketing team were fundamental parameters. Quality engineering seemed to be a better option than engine capacity. The simulation states quality engineering covers engine capacity as well as product design, styling, uniqueness and quality manufacturing processes (University of Phoenix, 2004). With all of the correct parameters outlining the perceptual map along with the research data given it will be easy to pinpoint why the under performance of the current product line.
Since he perceptual showed the current product line named CruiserThorr position is not helping sales, the next step for the marketing team was to decide what direction to go with the company. One course of action would be to

You May Also Find These Documents Helpful

  • Good Essays

    Perceptual Maps

    • 784 Words
    • 4 Pages

    Running head: Perpetual Maps Page 1 Perpetual Maps Catherine Miller MKT/421 October 22, 2012 Ricci Rizzo Perpetual Maps Page 2 Perpetual Maps Thorr Motorcycles, Inc. is a $5 billion company that manufactures different models of motorcycles. One of the high brand images in this company’s market is the CruiserThorr power cruiser model. Although this is a high brand, sales have begun to decrease. The company has blamed the declining sales on the high cost and the aging target…

    • 784 Words
    • 4 Pages
    Good Essays
  • Good Essays

    Perceptual Map

    • 783 Words
    • 4 Pages

    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…

    • 783 Words
    • 4 Pages
    Good Essays
  • Better Essays

    Perceptual Maps

    • 1773 Words
    • 5 Pages

    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…

    • 1773 Words
    • 5 Pages
    Better Essays
  • Good Essays

    Perceptual Map

    • 326 Words
    • 2 Pages

    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 certain criteria important to the customer. This is…

    • 326 Words
    • 2 Pages
    Good Essays
  • Better Essays

    Perceptual Maps

    • 1091 Words
    • 5 Pages

    Using Perceptual Maps in Marketing Simulation Janice JohnsonMKT/421 June 5, 2013 Using Perceptual Maps in Marketing Simulation While reading this paper the reader will get a summary of the three major phases from using Perceptual Maps in Marketing Simulation. The phase will be the situation, a recommend solution and the reason why it was chosen, and the results. The relationship between differentiation and positioning will be discussed and whether or not if the repositioning of the product…

    • 1091 Words
    • 5 Pages
    Better Essays
  • Satisfactory Essays

    perceptual map

    • 395 Words
    • 8 Pages

    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…

    • 395 Words
    • 8 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Perceptual Maps

    • 431 Words
    • 3 Pages

    Ranked from most healthy to least healthy. 1a) http://jambajuice.com/ - Jamba Juice 2a) http://www.soupersalad.com/- Souper Salad 3a) http://www.lucianositalian.com/ - Lucianos Italian 4a) http://www.subway.com/subwayroot/default.aspx - Subway 5a) http://www.schlotzskys.com/ - Schlotskys Deli 6a) https://www.tgifridays.com/ - TGI Friday’s 7a) http://www.bjsrestaurants.com/ - BJ’s Restaurant 8a) http://www.rudysbbq.com/page/home - Rudy’s Barbeque 9a) http://www.wienerschnitzel.com/ - Wienerschnitzel…

    • 431 Words
    • 3 Pages
    Satisfactory 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

    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…

    • 1221 Words
    • 5 Pages
    Better 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