Marketing 415

Individual “Using Perceptual Maps in Marketing” Simulation

This paper will also explain the impact of the product life cycle on marketing and what impact the product life cycle had on the product highlighted in the simulation. Defining Perceptual Maps Perceptual maps are graphic illustrations of the data created by rating scales. The map is only as valid as the parameters chosen to develop the map. The parameters must be "fundamental to your product and important to your customers" (University of Phoenix, 2009). Perceptual mapping is considered to be one of the few marketing research techniques that can provide input directly for the strategic marketing planning process. During the planning process, planners can see the customer and the competitor at the same time in the same realm (Neal, 1988). The Thunder RollsThorr Motorcycles, Inc. is a company worth $5 billion that manufactures luxury motorcycles and motorcycle related items.

The company currently produces more than 200,000 motorcycles per year. The company is well known for its 651+ cc CruiserThorr, which has a 40% share of the market for similar motorcycles. The concern is that sales of the CruiserThorr have declined due to the demographic change in the customer base. Younger customers make up the buying market and are not interested in the same lifestyle that their parents desired, symbolized by the CruiserThorr. The cost of the CruiserThorr is prohibitive for younger customers who prefer a low-cost motorcycle the better fits their wants and needs. The marketing team of Thorr Motorcycles decided to develop a perceptual map that will help determine the CruiserThorr's position in the market so that options could be explored to offset the decrease in sales. Phase One Phase One required choosing four parameters for the CruiserThorr's perceptual map. This writer chose lifestyle image, which is a critical part of any motorcycle purchase.

Most customers that seek motorcycles are buying into...