Perceptutal Maps
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Shannan Coleman
February 20, 2012
Perceptual Maps in Marketing
Stephanie Jensen
Perceptual Maps in Marketing
Thorr Motorcycles Incorporated is a lucrative business that despite downturn in sales and customer satisfaction is a $5 billion company that sells various models of motorcycles. Although, Thorr offers high brand images such as the CruiserThorr power cruiser the company still sees a decline in sales. The decline in sales is attributed to the target age of the customer who purchases the cruiser as a symbol of their lifestyle. To reverse the decline in sales Thorr will need to develop a marketing plan using the perceptual map that differentiates from competitors, and clearly position the company (University of Phoenix, 2012).
Phase One
In the simulation provide by University of Phoenix (2012), a perceptual map is a visual representation of what the customer thinks of a brand.” Possessing numerous axes can represent the characteristics of a product and illustrate the opinions of customers from the advertisement of the company. The perceptual map can also compare the product’s position with competing brands as well as associate the information with sales amounts to gather the market strengths. The first step for CruiserThorr motorcycle is to select four essential parameters that will provide the maximum potential for the CruiserThorr and that will be applicable to the motorcycle industry. Researchers asked 320 motorcycle riders between the ages 20 to 50 what each of them thought was the CruiserThorr’s strengths in comparison to two competitors as product design and styling, quality engineering, lifestyle image, and product uniqueness. Service offerings, engine capacity, safety, image, and price are considered the lowest parameter ratings. To plot the perceptual map we look at the lifestyle image, service offerings, price, and quality engineering. The simulation analysis states that these parameters are a good choice for the following reasons:...
February 20, 2012
Perceptual Maps in Marketing
Stephanie Jensen
Perceptual Maps in Marketing
Thorr Motorcycles Incorporated is a lucrative business that despite downturn in sales and customer satisfaction is a $5 billion company that sells various models of motorcycles. Although, Thorr offers high brand images such as the CruiserThorr power cruiser the company still sees a decline in sales. The decline in sales is attributed to the target age of the customer who purchases the cruiser as a symbol of their lifestyle. To reverse the decline in sales Thorr will need to develop a marketing plan using the perceptual map that differentiates from competitors, and clearly position the company (University of Phoenix, 2012).
Phase One
In the simulation provide by University of Phoenix (2012), a perceptual map is a visual representation of what the customer thinks of a brand.” Possessing numerous axes can represent the characteristics of a product and illustrate the opinions of customers from the advertisement of the company. The perceptual map can also compare the product’s position with competing brands as well as associate the information with sales amounts to gather the market strengths. The first step for CruiserThorr motorcycle is to select four essential parameters that will provide the maximum potential for the CruiserThorr and that will be applicable to the motorcycle industry. Researchers asked 320 motorcycle riders between the ages 20 to 50 what each of them thought was the CruiserThorr’s strengths in comparison to two competitors as product design and styling, quality engineering, lifestyle image, and product uniqueness. Service offerings, engine capacity, safety, image, and price are considered the lowest parameter ratings. To plot the perceptual map we look at the lifestyle image, service offerings, price, and quality engineering. The simulation analysis states that these parameters are a good choice for the following reasons:...