Perceptual Maps in Marketing

Perceptual Maps in Marketing

Perceptual maps are a tool that provides input directly from marketing research to the strategic market plan. The perceptual map is graphic illustrations of the data that is collected. The map will only be valid for the parameters that are used to develop the map. This paper will explore the use of perceptual maps and how the information from the simulation relates to the use of the maps.

Phase I

Thorr Motorcycles is a $5 billion dollar company. Thorr makes motorcycles as well as sells licensed merchandise. The company enjoys a 40% market share with the majority being in the larger cruiser style motorcycles. Currently, the company has started to see a decline in sales due to aging of the primary target age group. This group has lived the Thorr lifestyle and is no longer interested in it. Younger customers do not identify with the Thorr lifestyle and are looking for a less expensive motorcycle.

As the new Marketing Manager for Thorr, there are many aspects of the company to explore, market research to analyze, and competitive intelligence to review. This information will help to identify the items for the perceptual map and the new marketing plan.

The four recommendations for the focus of the perceptual map are lifestyle image, quality engineering, service offerings and price. These four parameters are the most important to focus on when planning the new marketing plan. The lifestyle image is crucial for Thorr Motorcycles. This is what the company has built its reputation and client base upon. The brand of Thorr Motorcycles leads customers to make the purchase to get the lifestyle. Quality engineering is important because The Cruiser Thor maintains a high brand image. This image has been promoted by the quality of the motorcycles and the quality of the engineering is part of that aspect. The services offered by the company must raise to high standards to compete with the competitor companies. If the service a customer receives...