Perceptual Maps in Marketing

Perceptual Maps in Marketing

Anthony Corrao

University of Phoenix

MKT/421: MARKETING

Rebecca Robbins

January 30, 2011

As a recently new hire to Thorr Motorcycles, Inc. as a marketing manager it is time to implement a change in the way Thorr does business. A recent review of the marketing strategy that Thorr is using shows that its sales are on the decline and the image of Thorr motorcycles is also on the decline. Thorr's current motorcycles are for the older generation of bikers who have enough money to spend. It does not include or allow for the younger generation of bikers to be able to afford Thorr's motorcycles. A tasking of creating a perceptual map on targeted areas to determine how Thorr motorcycles is actually doing in the world is the first step in deciding on what and if any changes are needed.

The first step, the perceptual map will allow us to view the marketing world and see the faults and flaws of the company. The perceptual map showed us that Thorr's Motorcycles, Inc. Lifestyle image is still higher than our competitors, but the services we offer, the price of our motorcycles and our Engineering is seriously lacking which is causing our sales to decline. Due to these findings the situation at Thorrs Motorcycles Inc. is as the business owners feared and changes are necessary to rebuild Thorr's image as well as introduce younger cyclist into the Thorr's marketing strategy. By doing this it is hopeful that not only will sales increase in time, but the thought of owning a Thorr's motorcycle will bring more customers into dealerships.

The marketing team has decided that rather than reposition Thorr's motorcycle's in the market a new motorcycle should be added to the inventory to sell at a lower price so that younger riders can afford it. This would reinvest our image in the younger generation as well as open the door to other sections of the marketing pie. The marketing team believes that Thorr's motorcycles should...