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Using Perceptual Maps in Marketing

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Using Perceptual Maps in Marketing
Krissinda Richards
MKT 421
December 21, 2011
Dr. Dyrren Davis

Using Perceptual Maps in Marketing
In the world’s market things are constantly changing. Products are introduced, have a growth period, then it starts to decline and eventually replaced with something new.The Thorr motorcycle simulation describes how the product life cycle of the Cruiser Thorr develops and then slowly declines as time and people change. In this situation, the CruiserThorr has had a lengthy product life cycle and the know the question is should the company think of new ways to reposition the Crusier Thorr in the market to appease the next generation or come up with a newer more fashionable model to replace it. Thorr Motorcycles must determine the motorcycles position in the market using a perceptual map. This map will chart the consumer’s views about the Cruiser Thorr and help the company make a final decision.
Perceptual Map
In the first step of using the perceptual map is selecting the parameters in which to reposition the cruiser in the market. The optimal parameters chosen are the lifestyle image, price, service offerings, and quality engineering. The Lifestyle image is the most powerful characteristic because it is design to persuade the customer buy into the image and not the functional attributes of the product. Quality engineering covers the product design, engine capacity and design, styling and the uniqueness of the product. These are important elements in maintaining a high image. “Price drives purchase decisions, and a high price is directly proportional to a high image. Normally price can’t be lowered without adversely affecting the brand image” (University of Phoenix, 2011). Services ensure that the dealers and suppliers are happy as well as maintaining customer loyalty.
The second step is to decide if the company will launch a...

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