Using Perceputal Maps - Marketing

Thorr Motorcycles is a five billion dollar company that produces 20,000 motorcycles a year (University of Phoenix, 2010). The company enjoys a high brand image in the market and controls 40% of the market (University of Phoenix, 2010). In the perceptual maps simulation the person completely the simulation is the new market manager and one must complete three steps, first determining the four parameter of the perceptual maps, second determine whether or not to maintain the current position or introduce new motorcycle, and third review market research a year later to determine if the company made a good decision.

Where is the Thunder Part One

The first section of the simulation is to determine the parameters for a perceptual map to be compared to two other companies. Perceptual maps help to compare a brands attributes with those of the competitors and ascertain market position (University of Phoenix, 2010). After reviewing market research and competitors information, it was determined the parameters for the Cruiser Thorr. The four parameters chosen for the perceptual map were lifestyle, quality engineering, price, and services. Lifestyle is the most important role in the motorcycle industry and is the most powerful attribute. Quality engineering was chosen because it covers almost every aspect of the product and Thorr cannot maintain a high image without this attribute. Price was chosen because it drives purchase decisions. Services were chosen because it is a simple way to ensure customer loyalty.

Revving Up the Market Part Two

Based on the chosen parameters one can see that the position of the current marketing strategy is not helping sales. In the second step one had to determine if Thorr Motorcycle should maintain the current position and enhance it, change the positioning completely, or launch a new motorcycle that targets younger customers. Based on marketing data it was determined that Thorr...