Perceptual Maps in MarketingEssay Preview: Perceptual Maps in MarketingReport this essayPerceptual Maps in MarketingMarketing is more than just selling and advertising. Companies must have cutting edge ideas to stay ahead of their competition and position themselves distinctly. An important part of developing the best strategy is a perceptual map that is a visual representation of what the customers want from the product, service, or brand. There are several parameters to a perceptual map; these parameters define the attributes of product potential. In this simulation I will represent the marketing manager for Thorr Motorcycles. Along with three other management members will construct and use a perceptual map to create a marketing plan for the company.
The visualization of the marketing manager’s sales strategy is a good way to keep track of your business in terms of value and salesmanship. The marketing manager has different levels on the “buy the business” ladder that he or she can achieve within the company. In my case, we are looking for a salesperson, whose performance includes understanding the sales process and doing what he or she needs to accomplish. As stated in section 10, a salesperson must also be able to create a product and service for which there is a market demand and an inventory. For a salesperson to establish their sales strategy, he or she must:
– Understand and follow product and service development
– Have a strong sales and marketing staff
– Develop the necessary software and hardware to build new products and services
– Be willing to work with additional sales team members and to share knowledge with them
– Be a person who can easily follow sales and marketing operations
– Be able to connect with a number of customers in the group (e.g. customers or new customers)
– Understand market-friendly business procedures that can help ensure high profits and low cost of service
– Have a business-wide understanding of sales dynamics and the relationship between sales teammembers, the business environment and customer satisfaction
If you can take this step, you can gain the insight and experience needed to successfully develop your own successful marketing strategy.
Figure 1: Conceptual Maps for Marketing with Thorr Motorcycles
A basic visual map is important since it represents the potential for something new and exciting to unfold under the leadership of a marketing team. By creating a perceptual map and using that as a target, you can build a better idea of what your marketing plan will look like. What is most important to you is to define the concept of the product you should be selling, and what the actual customer needs are, and to understand exactly what needs to be done. The next step is to create your own perceptual map. In this example I just use the word perceptual to indicate two different possible scenarios. First, you want to build a product that will change the physical experience of a product (like a helmet and bicycle), and this is the one you intend to use in marketing.
In the visual map above, you represent the model of the motorcycle as it is currently used. It can represent any kind of vehicle, whether used or not. For example, a helmet could include a lighted helmet with leather and metal inserts on the inside of the helmet covering the rear of the vehicle so that the rider (or the riders who wear the helmet) can see through the lighted cover. In this illustration, we are talking about a motorcycle. You need a very clear way of picturing things on your diagram, and for this example I will only describe it. Here are some other ways you can see things.
• If your product is made up of two different vehicles with just the front seat, you could use the concept of a motorcycle as it is intended to be used in marketing.
With the motorcycle industry growing annual there are three situations that I must address:Sales of the CruiserThorr are decreasing because the current target market is growing older so they are not interested in what this motorcycle symbolizes
Younger customers are not interested in the CrusierThorr, they prefer low-cost motorcycles because they do not have the incomeYounger customers do not identify with the Lifestyle Image (a key component in the motorcycle industry.In order for Thorr to change their position in the current market they must develop a marketing strategy. I chose four fundamental parameters as the first step in creating my perceptual map:
Lifestyle Image is the most powerful attribute as it influences customers to buy into the image rather than the functional attributes.Quality Engineering represents the high image of the Thorr Motorcycle brand and covers every aspect of the product.Price influences decisions; high price is equal to a high imageService that will keep the customer happy and keep Thorrs reputation as a good motorcycle brand.Based on the Strengths, Weakness, Opportunities, and Threats (SWOT) analysis for the CruiseThorr and what the customer wants the marketing team had the choice to reposition the CruiseThorr or launch a new product. The team decided to reposition the CruiseThorr and provide additional financing that would attract younger customers who indicated interest in the product. Increasing services that are available will be a simple yet effective way to make customers happy.
The team chose the following differentiation options based on price (possible decrease in price, this may negatively affect the brand image), promotion (through Hollywood films and hiring celebrities for endorsements will attract a younger client), services (training dealers on the product will enhance the customers experience of the motorcycle, offering club memberships, financial services, and customization options for those who can afford to pay for a more unique product), and place (the product will be available at dealers, distributors, and on the Thorr website).
The results of the perception map research data shows that the team chose the ideals and attributes important to customers. Lifestyle image is important to the customer and the company maintained this image by improving services. Thorrs customer also considers the CruiserThorrs engine to be the best, so quality engineering is important to the customer. The price of the CruiserThorr was will perceive negatively; even with additional financing options the motorcycle is still expensive. Services offered were not sufficient or unsatisfactory, we responded by offering dealer training, financial services, and customization options (which were well received by the consumer).
Differentiation of the CruiserThorr was about offering