Introduction
Market researchers are continuously searching for new ways to improve an existing product or service, or clever ways to launch a new product or service. Using a perceptual map is a widely used marketing tool that can help the marketing researchers stay focused on certain aspects of the project. Perceptual mapping is a graphics technique used by marketers that attempts visually to display the perceptions of customers or potential customers. Typically the position of a product, product line, brand or company is displayed relative to their competition (Wikipedia. 2008). This same procedure holds true for Thorr Motorcycles. This paper will describe each of the phases, its situations, the recommendations, and results of those recommendations. This paper will also address the marketing components that define the relationship between differentiation and positioning of the products or services, and what the impact of the product life cycle is on marketing.
Phase I: Where is the Thunder?
In the first phase, the motorcycle industry was growing, but sales of Thorr Motorcycle’s existing product Cruiser Thorr (a 1500cc power cruiser priced at $25,800) were deceasing (Apollo). A younger generation of consumers was buying more affordable motorcycles and Cruiser Thorr’s targeted market were growing older, and not purchasing motorcycles any longer. The first step was to review marketing research ratings, and competitor product comparisons. With this information obtained, choosing the four fundamental parameters for the perceptual map became apparent. The four most important fundamental parameters were lifestyle image, quality engineering, price, and service offeri ...