Perceptual Maps
Perceptual maps are used by companies to observe how they stand up to their competition through the eyes of the consumer. By giving a snapshot of what the consumer is thinking, perceptual maps help companies compare attributes such as price, design, and quality of a particular product. The quantity of attributes used in perceptual maps can be endless but usually only four attributes are used depending on the product. It is absolutely vital for companies to choose the correct attributes on the grid to collect and compare the correct data.
Acting as the Marketing Manager of Thorr Motorcycle Inc. part of the assignment was to formulate the company’s position strategy by constructing perceptual map. According to the simulation, the reasoning for the perceptual map was to reassert Thorr Motorcycle Inc. position back into the market in which the current product line, although successful in the past, had taken a major hit. After choosing parameters that are fundamental to the product and important to Thorr’s consumers, the first task was to reverse the downward trend of falling sales.
The attributes the marketing team felt were the first to be examined were lifestyle, price, product services, and engine capacity. According to the simulation 3 out of the 4 attributes chosen by the marketing team were fundamental parameters. Quality engineering seemed to be a better option than engine capacity. The simulation states quality engineering covers engine capacity as well as product design, styling, uniqueness and quality manufacturing processes (University of Phoenix, 2004). With all of the correct parameters outlining the perceptual map along with the research data given it will be easy to pinpoint why the under performance of the current product line.
Since he perceptual showed the current product line named CruiserThorr position is not helping sales, the next step for the marketing team was to decide what direction to go with the company. One course of action would be to
Acting as the Marketing Manager of Thorr Motorcycle Inc. part of the assignment was to formulate the company’s position strategy by constructing perceptual map. According to the simulation, the reasoning for the perceptual map was to reassert Thorr Motorcycle Inc. position back into the market in which the current product line, although successful in the past, had taken a major hit. After choosing parameters that are fundamental to the product and important to Thorr’s consumers, the first task was to reverse the downward trend of falling sales.
The attributes the marketing team felt were the first to be examined were lifestyle, price, product services, and engine capacity. According to the simulation 3 out of the 4 attributes chosen by the marketing team were fundamental parameters. Quality engineering seemed to be a better option than engine capacity. The simulation states quality engineering covers engine capacity as well as product design, styling, uniqueness and quality manufacturing processes (University of Phoenix, 2004). With all of the correct parameters outlining the perceptual map along with the research data given it will be easy to pinpoint why the under performance of the current product line.
Since he perceptual showed the current product line named CruiserThorr position is not helping sales, the next step for the marketing team was to decide what direction to go with the company. One course of action would be to