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Perceptual Maps in Marketing

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Perceptual Maps in Marketing
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 …show more content…

The services chosen were customization options, training for dealers, and financial services. Customization options give the RRoth a “cool” image that appeals to young consumers, while training for dealers allows the dealers to give accurate and detailed information about the bike so the consumer feels led to purchase the bike. Since young consumers do not have a large disposable income, offering financial services allows the option of purchasing the bike without having to have all the money at one time or having to finance through a bank or another source.
Phase Three
The third phase of the research requires interpretation of market research after one year of implementing the new marketing plan. In addition the RRoth’s perceptual map is created by choosing the relevant attributes. The CruiserThorr had a rating of 5 for price, because people viewed the bike as expensive when compared to other bikes. A lifestyle image of 9 was chosen because the bike fit the image the consumer wanted. Service offerings rated a 7 because some of the competitors offered more services. Quality engineering of the CruiserThorr rated an 8 because customers trust that the quality of the bikes from Thorr Motors is high and the company has a high brand image. The RRoth was rated an 8 for price because the motorcycle is cheaper than the CruiserThorr and appeals to young consumers. A rating of

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