Using Peceptual Map Simulation

Using Perceptual Maps in Marketing Simulation

Perceptual maps used in marketing are important because the map allows a company to see how a customer perceives a product this is newly marketed. Perceptual maps have multiple parameters, which are more commonly known as attributes. This paper shows the results of a perceptual map created in a simulation for a company named Thorr Motorcycles. Also explained are the situation for the simulation, recommended solution with the explanations for the recommendations, and results from the simulation.

Thorr Motorcycles is a $5 Billion company that makes high-end motorcycles for the public that wants to experience the power and freedom of owning and riding a motorcycle. Thorr Motorcycles produces more than 200,000 units per year, and has licenses programs to sell t-shirts, shoes, leather goods, toys, and numerous other consumer items. Thorr Motorcycles offer few services in the form of dealer training, dealer software packages, motorcycle rentals, and rider training (University of Phoenix, Axia College,  n.d.).

In May 2001, the motorcycle industry is growing but the sales for Thorr’s 150cc Motorcycles have been decreasing. The target age group for Thorr motorcycles is 35-50 and the target age group is getting older and becoming less interested in purchasing new motorcycles. A younger age group is not interested in purchasing Thorr Motorcycles because the price is out of the younger age group’s budget range. Another reason that younger customers are not interested in the Thorr Motorcycles is that the younger age groups cannot identify with the image of the current Thorr Motorcycles (University of Phoenix, Axia College,  n.d.).

The recommended solution for the company is first to start working on the Lifestyle Image of the motorcycles produces. The Lifestyle Image of the motorcycles needs to appeal to a younger crowd because the targeted age group is becoming less interested in purchasing these motorcycles. Lower the...