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Running head: PERCEPTUAL MAP
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Perceptual Map
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Perceptual Map
The Situation
Lifestyle image is an important attribute to Thorr’s Motorcycles, Inc. because it can
influence customers to purchase a Cruiser Thorr due to what it represents. The perceptual map is
a visual representation of a customer's opinion of the brand. The Lifestyle Image that the Cruiser
Thorr represents is freedom, masculinity, and mobility. Thorr's motorcycles, however, were
positioned as high-priced and did not fit the market for youngsters. Thor started losing its market
position since the price was too high and the life style image represented was for the older
generation. With the decline of sales, Thorr’s Motorcycles needed to change the image it
projected to the consumer in order to spur sales that would make Cruiser Thorr profitable
again. The simulation helped to construct and use a perceptual map to create an effective
marketing plan for the motorcycle brand through a repositioning plan.
The foremost situations in the simulation where a decline in the profits of the Cruiser Thorr,
formation of a market technique that would change the position of Cruiser Thorr against
dispatching a new motorcycle, and to understand market study findings to plan Cruiser Thorr's
brand attributes on a perceptual map.
Recommended Solutions
Services, Cost, and Quality Engineering are what I have suggested to formulate the parts
again. My decision was Quality engineering due the fact that they encompass every characteristic
of the product for instance design, style, capacity of the products. As the name of the company
says, Quality Engineering, they prefer quality for their products. Quality is very important aspect
for any organization because that is the only thing their creditability depends on. I have selected
price because price is the concern of every customer. Price is the main aspect of making decision
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to buy or not buy the product. As we all know that high price connected to the quality of product
and lower price means lower quality of the products. Now the other thing I have chosen is the
Service, if you have good customer service, then customers stay loyal and happy.
The next phase of the simulation required a assessment regarding whether or not the
conception of a advertising plan would entail repositioning Cruiser Thorr or launching a new
motorcycle. The top judgment for the association was to reposition Cruiser Thorr. The placement
policy that I have elected was to present financing solutions and boost services. By providing
financing alternatives and rising services Thorr Motorcycles, Inc can open doors for possible
consumers who may have felt that the Cruiser Thorr was further than their reach. By providing
finance selections, the organization will draw younger viewers that have already shown interest
in the Cruiser Thorr. This alternative also does not considerably raise expenditures. After
figuring out to offer financing alternatives and increasing services, I decided not to increase the
price of the motorcycle because some customers feel that price is already a alarm. An increase
would further deter potential customers.
The promotional strategies that I chose were to put in order parties for Cruiser Thorr owners,
present free test rides, contract celebrity endorsements in addition to supply products giveaways. With
the planned parties, the business would provide an image of belonging. By hiring a celebrity for
endorsements, the association raises its graphic imaging by having a name attached to the product.
Contributing free test rides and merchandise giveaways is another way that the association can promote
the Cruiser Thorr. The places that the business will market the Cruiser Thorr are on Manufacturer's Web
Site via the Internet and sellers. The World Wide Web will allow for a better chance for the product to
be noticed on a bigger level versus only having showroom viewings. Service promotions that will be
added to the advertising chart are customization alternatives and financial services. Working with a
financial plan limit of $13,000, the options that I selected to make the marketing plan kept the
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expenditures down to $11,416. The last situation involved interpreting market research findings in
order to plot Cruiser Thorr's brand attributes on a perceptual map. I assigned Lifestyle Image a
nine due to the fact that is what the customers appreciated most about the product. I gave Quality
Engineering an 8 because the majority of the consumers indicated that Cruiser Thorr's engine
was better than the competition. Since prices were initially seen as a negative aspect, but the
company helped customers to give consideration to purchasing Cruiser Thorr though offering
additional financing options, I assigned it a 7. For the service category, I assigned a 7 because
initially the services were not adequate but after adding this aspect, customers seemed to be
pleased with the different services that are now available with their purchase of a Cruiser Thorr.
Results
I picked lifestyle image, quality engineering, service and price as my parameters. I kept the
price and the quality high, chose a promotional strategy that maintained the lifestyle image
(Hollywood movies, celebrity spokespeople, Daytona sponsorships), and offered a wide range of
services while staying well within my marketing budget. The repositioning was a success and
Cruiser Thorr captured a larger market share of younger buyers as desired.
Relationship between differentiation and positioning
The relationship between differentiation and positioning of products and services is that
both relate to features of the product or service that is being offered. The repositioning in the
simulation went very much the same way as I expected it would. I had the understanding and
knowledge that repositioning could help the product and as expected in the simulation, when the
product was repositioned, it was able to take off in a very successful manner.
Impact of the Product Life Cycle on marketing
The impact of the product life cycle on marketing is that economic conditions will force the
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marketing strategy to be reformulated a number of times during the products life cycle (Kotler
and Keller 2006. p 335). In the simulation, the product life cycle impacted the product by the fact
that the sales decreased which called for a makeover in the marketing plan. The simulation
illustrated how life cycle can affect the sales and the image of the product.
Conclusion
Because of altering the elements of lifestyle image, quality engineering, service and price
on the perceptual map, Thorr Motorcycles Inc. is back to profitability with a more effective and
up to date marketing plan. The process of creating the marketing plan showed how
differentiation and positioning a product can increase sales and helps the product have a new
image. The simulation also put into illustration, the impact that the product life cycle can have on
the success of a product.
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Reference
Kotler, P. & Keller, K.L. (2006). Marketing management (12th ed.). Upper Saddle River, NJ:
Perason/Prentice Hall.