Perceptual Maps Used in Marketing

Times change and with it, products change. The product life cycle is a lot like the human life cycle, where we are born, grow up, get old and then pass on. The same thing happens to products, they are introduced into the market, have a growth period, start to decline, and then are replaced. This simulation shows how the life cycle of a motorcycle develops and is replaced by a newer younger model. That is why things become fads or fashions, they either fulfill the customer's wants and needs and have a long product life cycle or they don't. In this case, the CruiserThorr has had a long product life cycle and the question remains, to reposition it in the market or replace it to fulfill a need with the next generation. This paper looks at the planning, research, and strategy involved with making important marketing decisions.

Perceptual Map

A perceptual map will show the position of the image of CruiserThorr the large motorcycle that helped make Thorr Motorcycles a household name years ago when riding a "bike" meant the biggest, fastest, loudest machine on the street. It evoked an image of freedom of men cruising down the road with friends, taking trips, hanging out with other bikers, and a girl riding behind the driver. It did not include comfort or economy as these bikes were big, took muscle to handle, and were extremely expensive. With sales declining in recent years the first step is to establish why CruiserThorr is losing its popularity with the public. The four parameters chosen include lifestyle image, price, service, and quality engineering to understand the public's perception. Lifestyle image illustrates that CruiserThorr was the motorcycle most coveted by motorcycle enthusiasts, but also the most expensive to own. The price segment allows management to see that the price tag nowadays is too high with younger people having a decreased disposable income. Service offerings shows how people feel about the maintenance support that dealers supply to individual owners. Years ago it was not "cool" to have anyone else service the motorcycle and men took hours tuning and perfecting his individual engine. With time a commodity in short supply. Thorr Motorcycles wants to know if training technicians would help popularize the CruiserThorr again. Finally, the quality engineering parameter of the perceptual map covers just about everything else. With popularity dropping the quality engineering axes demonstrates CruiserThorr's uniqueness has lost its appeal to the public. The four parameters show that the popularity of a large cc motorcycle has diminished in the public eye with the price too high for younger people to afford one comfortably in their price range and older men are no longer interested in owning one. Younger people today are looking for value, and the service offerings are unnecessary whereas the clubs were very popular years ago, younger people do not want the rigidity of a club to enjoy the freedom of a motorcycle.

Marketing Strategy

The CruiserThorr is in its maturity stage of the product life cycle and competition is growing stronger while sales are reducing. By entering the declining stage Thorr Motorcycles will have the new RRoth will replace the old CruiserThorr. Although some loyal customers may balk at a smaller bike manufacturing the big CruiserThorr on an individual scale is available. Because the company has a dedicated public image, introducing a new, sleeker, more fuel efficient ride, the RRoth, the younger public will embrace the image. By paying close attention to consumer wants and needs and broadening the target market to include younger men, Thorr can reach a bigger target market and still retain its lifestyle image. People today are more financially wise and in tune to today's declining economy. The younger people of today are scaling back on spending and look at the market for savings and cost-cutting measures. A smaller bike with a price tag of $13,000-15,000 is more in the price range people feel comfortable spending. With a more fuel-efficient engine the public will feel more comfortable riding this bike.

Offering this motorcycle through dealers and distributors along with introducing it on the Internet will gain public awareness. Offering insurance plans and financing