Using Perceptual Maps
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Using Perceptual Maps
Thorr Motorcycles is a well-known motorcycle company. They are known for the “Cruiser Thorr.” Thorr Motorcycles produces more than 200,000 cycles per year. This is a billion dollar company. In addition, to motor cycles Thorr also sales other cycles and other merchandise, such motor cycle accessories, including helmets, motorcycle shoes and leather. Thorr also offers training to their dealers, dealer software, bike rentals and rider training.
Situation
Sales are decreasing for the “Cruiser Thorr”. the market that was targeted for the customers in the age group 35 to 50 years of age and are now getting older. Younger customers are not attracted to the “Cruiser Thorr”. This style of motorcycle is for a mature person and younger people are not willing to pay for an expensive bike such as this and prefer a motorcycle that is less expensive to match their income. Thorrs decrease in sales opens their market to their competitors and allows the competitor a chance to gain in this open market. With this in mind, the simulation using perceptual maps in marketing gives the choice of applying four parameters that will reposition Thorr back in the market and change the decrease in sales to an increase.
Recommended Solutions
As the marketing manager I will determine the positioning in the market by using the perceptual map to strategize a new marketing plan. The simulation has parameters that will assist in planning what is relevant to the industry and will help reach the highest potential for Thorr. The four parameters chosen are design and styling, lifestyle image, service offering and then the price. First, in reviewing the design and style it shows the skill of listening to the customer and their needs. It will help to rebuild loyalty to the brand. Next, lifestyle image influences customers to buy in to an image of what they think the brand represents and that is status. This will show that Thorr connects with the lifestyle of the customer by developing this strategy to fit their way of living. Third, is service offering and Thorr has not scored well in this area. In comparing Thorr to the competitors Thorr scored the lowest at 4.10 and ten being the highest. That is an indicator there is room for improvement. If the service offering were improved there would be ensured loyalty from their customers, dealers and the distributors. The service offering would include club memberships, motorcycle maintenance training, customization, financial service and the offering of support to motorcycle owner groups (In the University of Phoenix simulation (2004). The last parameter would be the price. Pricing is an important factor to making a purchasing decision. The younger customer prefers lower prices and prefer the least expensive motorcycle. The younger customer is who Thorr will target. Thorr will make use of the perceptual map as a plan best suited for the lifestyle image including the design and will attract that new target market. Thorr is not able to lower the price without risking the brands image and image is a powerful attribute. It influences the customers decision to buy (In the University of Phoenix simulation (2004).
Results
Out of the four parameters as the marketing manager I chose four of the parameters that would best fit to reposition Thorrs marketing plan. The simulation and I agree that product design style, lifestyle image and service offering were best suited for the marketing plan of the CrusierThorr. But, there was one parameter that the simulation chose that I did not and that was quality engineering. The quality engineering would encompass attributes such as product design, engine capacity, design capacity, design uniqueness and quality manufacturing processes (In The University of Phoenix simulation (2004). “A motorcycle cannot maintain a high image without these attributes” (University of Phoenix, 2004). “The