Perceptual Map in Marketing

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Perceptual Maps in Marketing This paper will provide an overview of the impact on product life cycle in marketing and the impact the product life cycle has on a product based on a simulation provided by the marketing course. For a better understanding of perceptual Maps, this concept could be defined as graphic illustrations of data provided by rating scales (Business Dictionary, 200). The map on this simulation will be used as valid parameters to develop a marketing strategy. In Marketing, perceptual mapping is considered to a marketing research technique that provides direct input for planning purposes in strategic marketing. These planning tools will be employed in this simulation involving Thunders Rolls Thorr Motorcycle.…show more content…
Increasing this type of services is a simple way of satisfying customer. The marketing manager also decided not to decrease the price or increase the stylish. Decreasing the price of a high image motorcycle may ruin its image because customers usually associate a compromise in the quality with a reduction in price. Another decision was not to argument lifestyle and increase price; because Cruiser Thorr is an expensive motorcycle and younger customers find it unaffordable. To market the reposition of the Cruiser Thorr motorcycle, the marketing manager decided to go through dealers, distributors, and Internet (manufacturer’s website). The internet will be an important asset to target younger customers. Another decision on how to market was to organize parties for cruiser Thorr owners, offer free test ride and publicize the motorcycle through Hollywood films. Increase in services will include more training to dealers, customization options, and financial services. The total cost for this marketing strategy was $12,715, amount that is within the budget provided. A Perceptual map could now be used to know if the marketing strategy was successful. Data from customer surveys can now be entered in the perceptual maps to create a graphic that will display the results. After creating the graphic, the data showed that customers were motivated to purchase a Cruiser Thorr motorcycle as a status symbol. The graphic also showed that customers provided
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