Using Perceptual Maps in Marketing Paper

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Using Perceptual Maps in Marketing Paper MKT/421 Using Perceptual Maps in Marketing Paper The manufacturing company that makes more than 200,000 cycles each year is called Thorr Motorcycles. They have a prize bike called the Cruiser Thor. This is a billion dollar company which provides training and services along with software packages which come from the dealer. They also sell other cycles with other merchandise that includes shoe, leather items, helmets, etc. In addition, customers can choose to purchase more services which include motorcycle training for inexperienced riders or they have the option to rent the bike. Situations, Solutions and Results In the first situation the numbers at Thorr are decreasing due to the company…show more content…
Companies who seek total success must be creative, stand out, and put their product in the proper position. They must find a way to get into the thoughts of their buyers and take control by being the leader. Making the decision to reposition the motor bike in the simulation turned out the way that I thought it might. Because of the decreasing sales that were occurring in the present market, I felt as if there was no other choice but to reposition the motorcycle. The decrease in sales was because of the product life cycle change. Cruiser Thorr had ridden into a stage called decline. If it was going to ride out and land in the stage of growth, then a new measure had to be taken. The older and loyal consumers had to be retained by keeping Cruiser Thorr, while the younger market had to be captured by introducing a new brand called RRoth. Conclusion A company must design the proper marketing plan and exercise a full understanding of the stages of the life cycle of their product. Focusing on these things will play a key role in how successful the product or service will be and for how long. Perceptual maps help companies discover changes that are available in the market for them to develop their strategies and tactics accordingly. It is easier to see which way you want to go with your product or service if you have the plan in place and have a map in place for how you will do it. Going
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