Using Perceptual Map in Marketing
Using Perceptual Map in Marketing:
Cruiser Thorr Motorcycles has been around for many years. The manufacturer Thorr Motorcycles’, manufacturers an assortment of motorcycles and does produces approximately 200,000 bikes per year. The motorcycle company also licenses T-shirts, motorcycle shoes, and toys. Thorr Motorcycles is losing money to other competitors who have cheaper or more reasonable prices. Thorr Motorcycles definitely needs some sort of plan to bring the bike back on top.
Thorr Motorcycles’ needs a perceptual map, “a visual representation of a customer’s perceptions about a product. It can have innumerable axes, where each axis represents an attribute of the product. The attributes of competing products are plotted on the axes to determine brand positioning” (University of Phoenix Library , 2011). The lifestyle picture of the Cruiser Thorr Motorcycle drips of construction workers or just pure masculinity, freedom on the roads and easy flexible movements on the highways. Marketing is not just showing, selling or to manipulate buyers into buying bikes, marketing consist of the management process through which goods and services move from concept to the customer.
Situations:
Three situation reasons are evident in the simulation portion of this assignment. The first situation is the decrease in sales of the Cruiser Thorr that is affecting the business. The bike retails for approximately $25,000. Thorr believes that the core ages of 35 year-olds through the golden 50 years are not riding their Thorr bikes as before. The age groups of 21 years through 35 year olds are looking for less expensive bikes. The younger generations are stating that even though the Cruiser Thorr Motorcycles are good bikes, it just reminds them of their grandfather’s bike. Second, creating another new marketing plan either for the Cruiser Thorr or a possible new bike named RRoth that will potentially reposition the Cruiser Thorr into second place. Third, it is important to interpret the current market research of the Cruiser Thorr reputation plus plot the attributes of a perceptual map.
Recommended Solutions to Situations:
In order for the Cruiser Thorr to overcome any challenges maybe reformulating the quality of pricing, or reexamining engineering, and see what can be done to lower the price. Achieving these three items just may overcome Cruiser Thorr’s failing position. Quality engineering is something Thorr Motorcycles does not want to fail in. Cruiser Thorr may be a candidate for restructuring, redesigning that would include a smaller frame and a smaller engine. Instead of starting from scratch, use the same design but make a “mini” Cruiser Thorr. It will still be a high quality bike, just smaller and with a more reasonable price.
Everyone knows that the price and quality is an