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
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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
Starting from a company of less than 75 workers and owning less than 20,000 SCU for production, research, quality assurance and conduct warranty work Off The Chain Bikes has doubled the plant capacity and hearing doubling the workforce within two short years. The company is successful by targeting and capturing lucrative market shares by heavily investing in the desired technical specs and design styles of one of the most influential Racing bikes. Our keen ability to thoroughly research market demands, predicting competitive strategies between the four market majority shareholders by reviewing and interpreting the marketing reports and our aggressive design and development plans have significantly increased our market share and increase shareholder value. Our core competencies and strategic goals will be realized by carefully following our established plans and aggressively price our bikes to increase total market share.
We look at the Fishbein multi-attribute model which helps us to figure out the score a customer attributes to the various dimensions to the brand. As the riders take part in the Posse experience, they already have built in ratings for the various attributes that contribute to the overall Harley Brand equity. The ride is a crucial exercise to change the
Allstate has taken a qualitative approach to developing marketing strategies aimed at the non-traditional market. Qualitative measures are targeted at finding out what customers think or feel about certain products or brand names. In past years to gain market share in the motorcycle industry, Allstate developed “Allstate Garage”. (Crepeau, 2008) This fun interactive website employed the qualitative approach of visualization to allow users to customize their own motorcycle by choosing different models, styles & accessories. Within the customization process, Allstate would indirectly emphasize perks about their insurance policy options. This visualization measure also provided apps for planning scenic rides and safety tips for motorcyclists.
The database consists of customers that have purchased items with the last 12 months and their demographic information. The use of the catalog, internet, and retail stores has enabled the company to capture customer information, cross-market products, and provide a convenient shopping experience for customers. The company’s customers are primarily females with a passion for the riding sport. The customers are affluent and luxury oriented who tend to choose to buy from the company for the high quality and premier products. The customer base shows high repurchase rates and has been very loyal customers.
Marketing and Sales represents Ducati’s most significant growth opportunities because their brand management strategy advances the Ducati name into the consciousness of their markets. In addition to motorcycles, Ducati extends the brand by selling accessories and apparel. For sure, Ducati owners will buy these products but perhaps more importantly, the aspirational aspect of the brand drives people to buy Ducati-branded items even if they don’t own the bike. This behavior is seen with the Harley-Davidson brand: many people wear H-D clothing and
According to perceptual maps, the BMW, Honda, and SAAB cars are the main competitors. This is because their positions are close to the Infinity G20 in the map. Individuals view Infinity G20 as a brand for success. Moreover, they think that it’s more attractive as compared to its competitors. However, the BMW is the most prestigious and most quite, according to the perceptual map. SAAB is the most roomy and most quite car, according to the perceptual map. Also in Exhibit 1, most of the respondents perceive BMW as more prestigious than the infinity G20 in the market.
Harley-Davidson has 30 plus motorcycle models ranging from smaller introductory motorcycles for the beginner up to high end touring motorcycles, and three wheeled motorcycles. Harley-Davidson has become one of the most well-known companies in the United States. They have opened the market from the typical biker to the doctor or lawyer with their continuous developments and variation in marketing and management. Due to demand for the American made motorcycle, the worldwide motorcycle market offers Harley-Davidson with many opportunities to sell their merchandise. Harley-Davidson has extended the choices of motorcycles through modernization and expanding choice in current marketplaces to include ecologically friendly products by producing an electric motorcycle.
Harley Davidson Company has a long history of building motorcycles that have worked to actually shape a part of the American culture. Its product positioning and marketing strategies have served as a prime example for any company to imitate. Harley Davidson has developed immense levels of brand loyalty over the years. However, the company has also been burdened by the recent economic downturn and now is going through something of a rebuilding phase as it tries to determine its best course forward. This analysis will conduct a SWOT assessment of Harley Davidson's current position and make recommendations on how Harley can continue to develop the next phase of its iconic American brand.
In this paper we will perform a complete analysis of the Harley-Davidson Corporation including their corporate and business strategies, strengths and weaknesses, environmental opportunities, the five industry forces, and financial situation. Harley-Davidson has many attributes, which will be apparent in the following analysis. The paper will attempt to define the different components of the analysis and put them all together in a way that seeks to explain the way that they contribute to the overall success of the company and its stakeholders.
The website of Harley Davidson gave us a new concept of Motorcycles! The extension of this website is exceptional. The virtual Customer Service in this website is notorious and extremely helpful. From other motorcycles websites this is one of the most professionals ones where the customer can get a flavor of the company from products up to their businesses profits and others...Harley Davidson publishes material related to all aspects of their motorcycles and provides to their own and the general public good information, expanding their products and other services with local information for countries around the world. Their information and technology, including digital libraries, metadata, authorization and
Bicycle consumers evaluate bicycles for their technology to include low weight, durable, stylish, and performance. Consumers are also concerned about price and service. Also the demographic of peer ownership will influence consumer purchasing criteria. Clearly the college in Colorado had a few select brands. Some manufacturers are fortunate to capture these traits within their brand. Trek has successfully secured 24% of the market and is a respected brand.
Suddenly the branding was the strategy of the Ducati instead of profitability and competing with Japanese motorcycles, which Minoli wanted to symbolize as a dream, passion a piece of history, and a motorcycle is at its heart (Gavetti, 2004). This lead to the formation of ‘The World of Ducati’ the strategy of all Ducati’s operations, link each other. The centre of this strategy is the motorcycle which serves to all customer segments in the
The development of marketing concept from a Product orientation to a Sales orientation and finally a Marketing orientation has signified an important change in how we understand and conceptualizes marketing in the 21st century. It signified an increased focus in the behavior of consumers and how by applying different marketing strategies organizations have been able to influence the way in which consumers react to their potential needs and how marketers can change their strategy to target different consumers wants. An assessment has been made in this essay looking at the development of the Volkswagen (herein referred to as VW) polo hatchback model.
| * Cruisers manufacturer * Incorporates technological innovation in its bikes based on the parent company R&D department that also offers ATVs and snowmobiles
Perceptual mapping graph is useful to find out strength and weakness compare to other company product. Also, it helps to recognize the competitive advantage for the product. Moreover, it finds the market opportunity. It shows the empty space where brand or product has opportunities to improve their product quality and retain or gain competitive advantage.