Using Perceptual Maps In Marketing: Thorr Motorcycle

1803 words - 7 pages

Thorr Motorcycles is a $5 billion company that manufactures 200,000 motorcycles a year. It also licenses T-shirts, shoes, leather goods, toys, and numerous other consumer items. The company also offers services which include: dealer training, dealer software packages, motorcycle rental, and rider training. The company has a high-brand image manufacturing high-end motorcycles and currently owns approximately forty percent of the market share.Thorr Motorcycle's SituationThe challenge for Thorr is that the industry is growing annually, but sales of its high-end product are decreasing. The reason for this loss of market share is that the target customers of its high end product is growing older and no longer identify with the lifestyle Thorr's brand represents, and younger people do not identify with that brand image either. In addition, Thorr is a high priced product and younger people do not have the large disposable income necessary to support the brand. The simulation challenged you as the new Marketing Manager to ascertain CruiserThorr's position in the market and reverse the downward trend.Recommended Solutions and ResultsThe first step in the simulation is to determine the positioning strategy of CruiserThorr using a perceptual map. There are four parameters that must be selected in the simulation. I chose lifestyle image, because the company's brand is its strongest asset and it is important that we continue to strengthen and realize the power of that attribute. Lifestyle image is what influences people to buy into the image rather than the functionality of the product. Next, I suggested product design and styling because it builds brand loyalty and provides satisfaction by tapping into the customers emotional needs. Next, I suggested service offerings because that is an easy to ensure customer loyalty while keeping dealers and distributors happy. Finally, I suggested price because price is what drives purchase decisions and it is tied directly to brand image. According to the simulation all of my suggestions except for product design and styling were correct. The simulation suggested quality engineering rather than style, because it covers almost every aspect of a product, encompassing style and design.The second step in the simulation is to decide whether you should launch a new product line or reposition the CruiserThorr brand. I suggested the launch of an entirely new product line because the company's brand is its strongest asset and it would be foolish to turn your back on something that has been so successful. The new product line is one that would honor the image of the company and while targeting younger customers. The price range I suggested was $17,000 to $19,000. The method of promotion I suggested was mainly through Hollywood Films and celebrity endorsements to target the younger more hip generation. The place will be both the internet and the dealer showrooms. The lineup of services I suggested to include were dealer training,...

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