Using Perceptual Maps in Marketing

In: Business and Management

Submitted By tracie1966
Words 1560
Pages 7
Using Perceptual Maps in Marketing
Name
University of Phoenix

Using Perceptual Maps in Marketing One of the marketing strategies that Thorr Motorcycles utilized is using the Perceptual Maps. Thorr Motorcycles is one of the leading brands of motorcycle manufacturers all over the world. They can manufacture up to 200,000 motorcycles a year. This move was considered as the main stimulation in their marketing campaign, which involves using various marketing strategies in order to make the company consistently competitive. Two of the components that are considered to be the strength of the marketing strategies of Thorr Motorcycles are positioning and differentiation. With positioning, the company is known to create a visual model of the consumers’ perception of their products. The Cruiser Thorr model of the company embodies masculinity, freedom, and dynamism. However, the sales rate for this model has been allegedly declining recently, and that is when Thorr realized that they need a new image for the vehicle with the hopes of increasing their profits. As part of their strategy, Thorr tapped the potentials of the students to gather information and use this to come up with a new marketing plan for the company in order to get back to the competition. The simulation done consists of three stages, and each of them will be elaborated below. The first stage of the simulation involves the assessment of the status or position of the Cruiser Thorr in the recent market. To assess it appropriately, the researchers made a perceptual map of the product based on four parameters such as services, quality engineering, pricing, and lifestyle image. Given these parameters, it was observed that the polygon tends to change its size each time a parameter is selected. With this, the polygon is a good way of determining which of the parameters is the best…...

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