Using Perceptual Maps in Marketing

Using Perceptual Maps in Marketing

By Debbie Butcher

June 26, 2011

University of Phoenix

The simulation introduces the user to a multi-billion dollar company named, “Thorr Motorcycles. Thorr motor cycles produces more than 200,000 motorcycles per year and also sells other products such as; “T-shirts, motorcycle shoes, small leather goods, toys, and numerous other consumer items”(UOP,2005). Although, the company is a leading manufacture in the motorcycle business, the sale of the Cruiser Thorr edition is steady declining. As the new marketing manager, the task at hand is to identify core reasons as to why the sales are declining and what can be done to make the Cruiser Thorr a profitable motorcycle for the company. To better understand the situation and make informed decisions I will be using perceptual map as a guide for formulate a new marketing plan to help Cruiser Thorr become a top selling motorcycle once again.

Situation

The first step as marketing manager is to research the reasoning behind the declining sales of the Cruiser Thorr. After carefully evaluating the presented information, one of the vital points noted was that the targeted customers were in the 35 to 50 age group. The issue with this particular group is that they are aging and are no longer interested in the lifestyle the Thorr Cruiser offers. Cruiser Thorr is attractive to the younger age group of 21 to 35 years old individuals but the motorcycle is pricey costing $25,800, which is leading the younger individuals to lower costing motorcycles that are within their budget range. Lastly, Thorr is facing tremendous competition from competitors flooding the market with motorcycles that are in the lower price range, for example, the Anzai motorcycle is conveniently priced for the fun-Younger Market Segment at $14,300. Looking at the market research ratings, Thorr scored high in the Lifestyle image, Product Design and styling, and Product Uniqueness, but scored very low when it came to pricing, coolness, and service offers all of which are some of the most important factors consumers look at when purchasing big ticket items such as motorcycles. Focusing my attention on how to once again help Thorr motorcycles become a popular commodity will not be an easy task, as marketing manager I will use the perceptual map simulation to help formulate a new marketing plan to re-launch the Cruiser Thorr motorcycle.

Recommendations

The company has given me a $13 million dollar budget to implement a marketing plan a strategy that will help Cruiser Thorr become a popular and profitable motorcycle once again. In looking at my budget, I have decided to reposition the Cruiser Thorr rather than launch a new