Perceptual Mapping

A brand is a name, term, design, symbol, or any other feature that identifies one seller 's good or service

“Marketing Mix” is made up of 4P’s of marketing. This tool blends these variables together to produce the results it wants to achieve in its specific target market. “Brand Position” mentions to consumer’s reason to buy the products in preference to others.

In addition, it would have been beneficial to include advertising with Hollywood action films. The target market not only watches these movies, but wants to replicate the actors and actresses in these movies. It would help secure the idea of the Thorr brand being of quality and for the elite as well as show off some of the customization possibilites they offer.

Branding is about establishing an image of how you would like to be seen and thought of by others. In business, for instance, those people are usually consumers. In other words, companies want clients to think of them in a positive light so they purchase their products.

Perceptual maps help to improve a company’s current product on the market by mapping consumer expectation of the product. The motorcycle company Thorr Motors perceptual maps were used to create a marketing plan to aid in maintaining a high brand image of their motorcycles. This paper is based on the three phases in the Thorr Motors simulation. The situation, recommended solutions, and result for each phase will be discussed. Lastly, the different marketing components addressed in the simulation will be summarized.

In chapter 3, I've read up to page 123. I learned that perception is a process that makes these words meaningfull. The brain senses the indirectly, because the sense organse convert stimulation into the language of the nervous system, and neural messages. the retina is the thin light-sensitive layer at the back of the eyeball. An afterimages sensations that linger after the stimulus is removed the gate controled theory eplains why pain can sometimes be blocked or facilitated " top down " by our mental state.The ability to see an object as being the same shape from different angles or distance is just one eample of a perceptual constancy. I've also learned that the laws of perceptual grouping eemplify a more general

Two observers viewing the same object at the same position under the same physical circumstances do not necessarily have identical visual experience. Although the images on our retinas form part of the cause of what we see, another very important part of the cause is the inner state of our minds or brains, which will itself depend on our cultural upbring, our knowledge and our expectations, and will not be determined solely by the physical properties of our eyes and the scene

Brand- is a name, term, design, symbol, or other feature that separates an organization or product from its challengers in the judgments of the customer. Brands are used in business, marketing, and advertising.

In the theory, it defines a brand as a name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate the offering from those of other competitors. Simply put, branding is one of the most important aspects of any business, large or small, retail or B2B, which is the promise to customers and tells them what they can expect from the products and services. (Lake, 2015) (Williams, 2014) Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand.

According to the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”. However, as Keller highlights, a brand is also “something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace”. Therefore, a brand is an identity created to differentiate itself from the competitors and to be remembered in consumer’s mind.

Thorr Motorcycles is a very successful business based in South Dakota sells motorcycles and motorcycle apparel. Thorr Motorcycles is a multibillion dollar company that manufactures more than 200,000 motorcycles each year. Thorr has long had an image of producing high-end machines and has enjoyed a 40% share in the market. A recent census indicated that Thorr needs to improve its current product to boost sales and stop the recent decline in sales. The company would benefit by using perceptual maps that are designed to reveal a customer’s expectation of a product. However, a perceptual map is useful only if the correct parameters are chosen to

The use of perceptual maps is a strong tool in the marketing world. Perceptual maps visually represent what the consumer thinks about a product or brand. To make a perceptual map several attributes of the product are placed on different axis and from that point a grid is made to represent how strong or weak the consumers view each attribute. Making a perceptual map is a good way for mangers to decide on a good marketing strategy for the product, and which attributes need work. The simulation used Thorr Motors, a company specializing in motorcycles, to give an example of how perceptual maps are used in the marketing world. The company is experiencing a decrease in sales of the CruiserThorr, once a popular

In that mapping I shown that my four quadrant are populated with different brand like as Mercedes, Audi, Jaguar, Ford, Toyota, Honda, Porches, BMW and Mazda. Also, there have four attributes in that mapping .Those are Expensive VS Cheap and Sporty VS Conservative. In vertical axis I have shown Sporty VS Conservative and horizontal axis I shown Expensive VS Cheap. Moreover I rate this in five point rating scale (1-5) and attach a excel file with that for a clear view of my mapping.

Customers can make different judgements as regards a brand. Customers put together imagery and the different brand performance to make the judgement (Lane Keller, 2011).

McCarthy, Perreault and Quester define branding as "the use of a name, symbol, design or combination of the three to identify a product" and more particularly a brand name as "a word, letter, or group of words or letters used to identify a product" (Basic Marketing, a managerial approach; 1997).