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
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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 is applied indicating what the customers appreciated most about Cruiser Thorr. In the category of Quality Engineering, an eight is assigned indicating that the majority of the consumers indicated that Cruiser Thorr 's engine was better than the competition. In the category of Prices a five is assigned. Improving finance options, the company helped customers and given consideration to those customers with limited disposable income which will give these customers the option of purchasing Cruiser Thorr. The final category is the Service category. A seven has been assigned to Service. Customer surveys indicate that the services were not adequate. Increasing the importance of Service will be a positive influence increasing the customer 's satisfaction. If the customer is pleased with the different services that are now available with their purchase of a Cruiser Thorr will increase. The results of the perceptual map
The motorcycle industry is a consolidated industry. The U.S. and international heavyweight motorcycle markets are highly competitive. The major players, such as Yamaha, Suzuki, and Honda, generally have financial and marketing resources that are substantially greater than the non-major players. Competitions in the heavyweight
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.
This worksheet is a complement to the study guide for both the MKT1. The purpose of this worksheet is to help you think about and apply important marketing concepts to Company G. By working through the exercises and matrices introduced in this worksheet (Section A, Section B, and Section C), you are laying the foundation for your marketing plan required in this assessment. This worksheet should be completed before you write your Marketing Plan, for which a template is provided.
Select one (1) of the types of project organization that would suit the development of the larger touring class motorcycles. Outline the process steps that your company would take in order to develop the motorcycle. Provide a rationale for the response.
Beals realized the big necessity to implement Japanese techniques & programs in production for better quality products.
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.
2.More resources should be spent on the Posse Rides to meet the rising expectations of participants.
Since prospector should be highly innovative and analyzer’s domain is a mixture of stable and changing product or
Upon initial review of this evidence, it would appear that Harley Davidson has two distinct market segments, with differentiated needs. While there are clearly two segmented markets that need to be addressed, many of the needs of each segment can be handled with a single strategy. Finding the right bike, creating a culture for riders, and providing a means to get away are all important to the current prime market. It just so happens that these features are also important to the new target segment: young people. Fortunately, with some tweaking, current products can be made appealing to a totally new audience. There are three main areas of focus for this new brand management strategy. First, the barriers to entry and perceived barriers to entry must be lowered. Second, riders and potential riders must feel that they will have a place within the culture. Finally, riders must feel that they are being offered an opportunity to find their own experience.
Harley Davidson is known as one of the main motorcycle manufacturers and sellers in the United States. The company had good business and great market share in the early 1960s when it commanded a total of about 70% 0f the motorcycle market, before the invasion or the intrusion of a small Japanese firm that manufactured lighter motorcycles, known as the Honda. The case study as identifies that Harley Davidson assumed the invasion by the Japanese firm and instead of tackling the competition, it waited for a long time which resulted in the company losing its command in the motorcycle market in the United States. Lack of action by the management of Harley Davidson resulted in the failure of the company
The Motorcycles and Related Products segment was responsible for virtually all of the change in consolidated revenue as the result of increases in both motorcycle unit shipments and Parts and Accessories sales. Year end data indicate that the domestic motorcycle market continued to grow throughout 1993 and demand for the company's motorcycles continues to exceed supply. International demand remains strong with export revenues totaling $262.8 million during 1993, an increase of approximately $23.4 million over 1992. The Board of Directors approved a comprehensive manufacturing strategy designed to achieve the goal of a 100,000 units per year production rate in 1996. Basically, it is an enhancement of the Motorcycle division's ability to
After an investigation by the US International Trade Commission, in 1983 President Reagan imposed a 45% tariff on imported bikes and bikes over 700 cc engine capacity. The new management deliberately exploited the past appeal of their big machines, building motorcycles that purposely adopted the look and feel of their earlier models. Quality increased, technical improvements were made, and buyers returned. Harley-Davidson once again became the sales leader in the heavyweight (over 750 cc) market.
Perceptual mapping is a graphical technique that helps marketers to get a visual display regarding perception of customers or potential customers. The position of a product or brand is displayed comparative to their competition. Perceptual maps are often used to help the organization to classify a positioning strategy.
Take a look at the websites for Harley-Davidson (www.harley-davidson.com), Yamaha (www.yamaha-motor.com), and Indian (www.indianmotorcycle.com). Who are their potential customers? How is each of these companies appealing to their potential customers? Are they using emotion, facts, comparisons, etc? How effective do you believe each of them to be? Harley Davidson (www.harley-davidson.com)