Perceptual maps are an excellent way for companies to view how there companies’ marketing is working in certain components of marketing aspects. Perceptual maps give a snapshot of what their customers think about certain attributes of a companies products such as; price, design, quality, etc. The amounts of attributes used in a perceptual map are endless, however, there are only four attributes used in one perceptual map at a time. So it is important for companies to choose the right attributes on
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Using a Perceptual Map for Thorr Motorcycle, Inc. MKT/421 March 25, 2013 Perceptual Map Company Bio Motorcycles have been marketed as the masculine, mobility and freedom machine since the early 1900s. Crusier Thorr is no different. It is a high-powered, efficient motorcycle modeled after the God of Thunder himself. Cruiser Thorr is prized for it strong, honest and dependable product design; however, with the changing demographics of its target market, the company has hired a new Marketing
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Running head: PERCEPTUAL MAPS IN MARKETING SUMMARY Perceptual Maps in Marketing Summary Name University Perceptual Maps in Marketing Perceptual mapping can be summarized as the discipline of comparing products based on the perception of potential customers in the marketplace. The goal of this practice is to allow product marketers to build a stronger understanding of customer viewpoints and opinions on brands, advertising campaigns, and new market offerings. By developing a visual map of customer
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Using Perceptual Maps in Marketing MKT/421 May 9, 2012 University of Phoenix Thorr motorcycles are a 5.5 billion dollar company that produces more than 200,000 units annually. The Thorr Company licensed dealers to sell t-shirts, leather goods, and toys. The Thorr motorcycle company recently saw a decline in the Thorr cruiser that in the past has been the company’s top-selling cruiser. Sale declines are attributed to target age groups no longer taking interest in the lifestyle that the
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Motorcycles, Inc. manufactures more than 200,000 motorcycles every year. On top of that, they also offer services including motorcycle rentals, dealer software packages, dealer training, rider training, and motorist riding apparel. In this simulation, the problem at hand is their line designed for the age range of 35 – 50, and the decrease of interest and sales for that particular bike. The reasons for the decline in sales is due to the age bracket it is designed for losing interest in the product
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Using Perceptual Maps in Marketing Name University of Phoenix Using Perceptual Maps in Marketing One of the marketing strategies that Thorr Motorcycles utilized is using the Perceptual Maps. Thorr Motorcycles is one of the leading brands of motorcycle manufacturers all over the world. They can manufacture up to 200,000 motorcycles a year. This move was considered as the main stimulation in their marketing campaign, which involves using various marketing strategies in order
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Using Perceptual Maps in Marketing Simulation Summary I am a marketing manager for Thorr Motorcycles, Inc. As a five billion company it has been successful throughout the years pleasing an older range of customers. Thorr Motorcycles, Inc. not only offers customers to purchase motorcycles, but also a variety of items. This variety of items includes; t-shirts, hats, shoes, leather goods, and toys. I have been hired to create a marketing plan for the company and either reposition or create a new motorcycle
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Using Perceptual Maps in Marketing Simulation Summary Jody Dentiter MRK/421 April 16, 2012 Kelly Duman Using Perceptual Maps in Marketing Simulation Summary Perceptual maps in marketing help a company to know the expectations of a customer in relation to a product that company is marketing. This is true of existing and possible future products. In the simulation, the discussion reflects whether the company Cruiser Thorr will revamp the marketing on the existing motorcycle
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experts to create a marketing plan beginning with a perceptual map, which gives a visualized idea of what the customers’ perception are of the product. After creating an optimized perceptual map, the marketing team has to decide whether to continue with their present strategy plan or deliver a newer, less expensive motorcycle, the Rroth, that will appeal to the younger crowd. After a year of sales, the marketing team then has to create another perceptual map for the decision they made to either stay with
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Using Perceptual Maps in Marketing Simulation Summary Perceptual maps advance a company’s existing product on the market by mapping customer expectation of the product. The motorcycle company Thorr Motors perceptual maps were used to create a marketing plan to help maintain a high trademark image of the company’s motorcycles. The Marketing Dictionary (2010) definition of perceptual maps is a “process by which consumers' perceptions of an existing product are charted.” (2x01) The sales of the
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