Perceptual Maps in Marketing: Thorr Motorcycles
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Perceptual Maps in Marketing: Thorr Motorcycles
Thorr Motorcycles is a company plagued with waning sales of their products. Thorr must make some decisions to boost their sales. With the use of a perceptual map, Thorr will be able to develop a visual representation that will act as a guide to assist the company in regaining their sales and their place in the market.
Thorr Motorcycles is suffering from decrease in the sales of the Cruiser Thorr. The company must create a market plan that would reposition Cruiser Thorr or launching a new motorcycle the RRoth, interpreting the market research findings. Company will plot Thorr’s brands attributes on a perceptual map to determine how to proceed and increase the company’s sales.
Thorr insist on maintain their lifestyle image, this image set their motorcycles apart from all others in the industry. To reach a solution for the lagging sales the solutions that have been recommended are reformulating areas of Quality Engineering, Price, and Services. Quality Engineering is one of the principles was built on and a need to emphasize the quality engineering characteristics of the company’s products. Some of the aspects Thorr has to capitalize on as part of the quality engineering is the design of the product, style of the product, the capacity and design of the engine, the unique qualities and a good manufacturing process. Quality Engineering reflects important quality is for an organization. If the organization has and maintains high quality in the products, it gives the organization credibility. Price is an important aspect to most consumers. Thorr’s products are among the most expensive motorcycles on the market. Many of Thorr’s customers are willing to pay the premium price to have the status of owning one of Thorr’s motorcycles. The company has determined that price is a major factor of the younger customers who do not have the disposable income for a high priced motorcycle and affects the customer’s decisions to make a purchase or not to make the purchase. Having a high price directly relates to the quality that is put into the product and a lower price could potentially give an image of lower quality products. Good after sales service is a very important factor in resolving issues that may occur with any problem the customer may encounter. Having good customer service reflects on the quality of the product and image the company portrays. Happy customer creates produce loyalty and repeat customers.
The second stage of the perpetual map requires Thorr Motorcycles to make some additional decisions. These decisions are concerned with the creation of a marketing plan that would reposition the Cruiser Thorr or launch a new motorcycle, the RRoth. For the organization reposition, Cruiser Thorr is the best solution. The positioning strategy that provides a solution that will help the company’s posture is to provide financing options and increase services. The financing and increasing services will allow the company entices potential customers who may have believe the Cruiser Thorr was unaffordable. The finance options will also attract younger patrons that have shown interest in the Cruiser Thorr without significantly raise expenditures. Promotions are another area that will positively influences Thorr’s potential customers. Some promotions that should be considered are to organize parties for Cruiser Thorr owners, offer free test rides, contract celebrity endorsements and provide merchandise giveaways. These incentives will give the customers an image of belonging. Celebrity endorsements increases the company’s visual imaging by having a name well known name attached to the product. Free test rides and merchandise giveaways are another way to promote the Cruiser Thorr that will have a positive impact on the company. Thorr motorcycle needs to focus on the place to promote their product. To attract the younger customer it becomes important to promote the Cruiser Thorr on manufacturer’s web site, dealer’s web sites and other web sites that are motorcycle oriented. The internet allows the company an opportunity to show off their product on a large scale potentially reaching many more customers than a showroom. Thorr Motorcycles has a working budget of $13,000, the choices that were picked for the marketing plan keeps the expenditures down to $11,416.
The last element that Thorr must do is interpreted the market research and plot the Cruiser Thorr’s brand attributes on a perceptual map. Thorr Motorcycles must apply numbers to the perceptual map to give a graphical display of Thoo’s values. Lifestyle Image a nine