Perputual Maps in Marketing
Perputual Maps in Marketing
Introduction: The simulation of Thor motorcycles showed that the firm wanted to change its image. The motorcycle was considered by the younger generation as very expensive and a bike that does not fit their trendy image.
“Brand can be positioned against competing brands on a perceptual map. A perceptual map defines the market in terms of the way buyers perceive key characteristics of competing products.”
The basic perceptual map that buyers use maps products in terms of their price and quality as illustrated below:
Perceptual and preference mapping techniques has been a basic tool of the applied marketing research profession for the past two decades. These techniques have been used extensively over a large number of applied research studies, and for a wide variety of product and service categories and have been subjected to extensive validations; there are still some issues as to the procedure’s applicability and usefulness.
Thor’s position in the motorcycle market was one that was high-priced and did not fit the market for youngsters.
Thor started losing its market position since the price was too high and the life style image represented was for the older generation. The competition brands represented cool styles that the younger generation would buy and the prices were low.
The first challenge is to change the image that Thor represented. The product design and style needs to be changed to appeal to the younger generation. The Anzai model manufactured and sold by HaruHiro Daistsu Motorcycles has a durable engine and represents a lifestyle image of and cool and fun. They also offer special services to the dealers. Thor has to change its service offerings and be more open to the dealers.
The market research ratings that the simulation compares Thor with its competitors like Anzai and Espiritique show the advantages that the competing brands have over Thor. There are different parameters taken into consideration to come up with consolidated perceptual map that the customers have on all the motorcycles brands in the market.
The lifestyle image represented by Thor had the highest rating compared to its competition. Price as a parameter for Thor has been rated the worst whereas Espiritique has been rated the best.
Product design and uniqueness for Thor have been rated better than its competition. Service offerings by the other brands have been rated much higher than Thor.
“Positioning is not what you do to the product; it is what you do to the mind of the prospect. It is a new approach to communication and has changed the nature of advertising. It can be of a product, service, company or oneself.” By Amar and Vikram
The approach to positioning is not to create something new or different but to manipulate or play with the consumer’s