Perceptual Maps In Marketing

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    Using Perceptual Maps in Marketing Simulation

    Using Perceptual Maps In Marketing Simulation Using Perceptual Maps in Marketing Simulation Thorr Motorcycles manufactures a range of motorcycles. It also carries a wide variety of accessories and products from shoes to toys. The image Thorr Motorcycles perceive is that of freedom, masculinity, and mobility. Thorr Motorcycles offers various services, for example, dealer training, dealer software packages, rentals of bikes, and rider training. Thorr Motorcycles believes in having a high

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    Perceptual Maps in Marketing

    Perceptual Maps in Marketing MKT 421 Perceptual Maps in Marketing Perceptual Maps Thor Motorcycles, Incorporated builds motorcycles and motorcycle accessories. “Thor motorcycles currently produce more than 200,000 units” The company specializes in the Cruiser Thorr, its high-end motorcycle. The Cruiser Thorr helps the company maintain five billion dollar sales in its industry. Unfortunately, the current buyers are growing older, and the motorcycle is not attracting new buyers. The marketing

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    Using Perceptual Mapsin Marketing Simulation Summary

    environment. 2. What are similarities and differences between promotional push strategies and promotional pull strategies? 1. Push strategy takes an already existing product and pushes it onto the consumer through many different advertising and marketing approaches. An example of this is perfume samples (scented blots on cardboard) that are shoved in magazines. This is pushing an existing product directly onto the consumer. This occurs when production is high and demand is consistent. 2. Pull strategy

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    Perceptual Maps

    Perceptual Maps Marketing MKT/421 Perceptual Maps Phase 1 – Description – Where is the Thunder? In this phase the marketing manager, SARA needs to reverse the latest trends in the market with a new marketing plan. Before doing so, she needs to know and understand where Cruiser Thorr’s position in the market. SARA needs to choose the four fundamental parameters that are most relevant to the motorcycle industry and that reflect the highest potential for Cruiser Thorr. Phase 1 – Recommended

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    Perceptual Maps

    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 Manager

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    Perceptual Distortions

    Moreover, perception is an interpretation of information according to individual values, needs, fears and emotions. During my reading of Chapter 3, I could easily relate to situations in my daily work activities in the Army. There are many types of perceptual distortions where I work. I can describe a situation where a peer undervalued her capabilities in a self-effacement bias. She was asked by our new supervisor to be an instructor in our daily physical training session. She refused saying that she

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    Marketing Paper

    Using Perceptual Maps in Marketing Simulation Summary The Business world is constantly thinking of innovative ideas to accomplish the goal of having an ample amount of information for current and future marketers. Subsequently marketing students were specifically instructed to complete the simulation, Using Perceptual Maps in Marketing, located on University of Phoenix’s student website. I prepare to address the three major phases: the situation; my recommended regarding why I recommended those

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    Using Perceptual Maps in Marketing

    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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    Perceptual Maps in Marketing

    Perceptual Maps in Marketing Jennifer Cantrell August 5, 2013 MKT/421 In this simulation, Thorr Motorcycles, Inc. manufactures higher end motorcycles. They currently produces more than 200,000 each year. The company’s top seller is the CruiserThorr however sales have been dropping due to the aging of the company’s current target market. The CruiserThorr does not have as much appeal for the younger target markets due to the pricing strategy. Since it

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    Using Perceptual Maps in Marketing Simulation Summary

    Perceptual Maps Simulation I found this simulation to be very interesting. First of all, it was about motorcycles, and what guy doesn't find that to be an interesting topic? Regarding the lessons it contained for marketing though, it was also interesting while still being entertaining as well. The situations it presented were realistic, while not being so overcomplicated that the material it was trying to present got lost. In the following paper I will discuss the situations from the simulation

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    Perceptual Marketing Plan

    CHAPTER 4 Focusing Marketing Strategy with Segmentation and Positioning These days Nintendo rides high in the video game world. Its DS handheld game, Wii (pronounced “we”) console, and games with characters like Mario and Zelda sell millions of units. The key to Nintendo’s success comes from meeting the entertainment needs of different groups of customers. Back in the 1980s, Nintendo was a 100-year-old Japanese manufacturer of toys and playing cards. If Nintendo managers had continued to

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    Perceptual Maps in Marketing- Cruiser Thorr

    Perceptual Maps in Marketing- Cruiser Thorr (Simulation Summary) MKT/421 The first phase is to identify the parameters that are important to Thorr Cruiser. The first parameter is the extent of contemporariness of Thorr Cruiser. Thorr Cruiser is not seen as modern, but as old school; there are few who would want to purchase Thorr Cruiser in the current market. So the parameter of contemporariness has been identified as important for Thorr Cruiser. The recommended solution is

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    Mkt Using Perceptual Maps

    Using Perceptual Maps in Marketing Simulation MKT/421 MKT/421 Using Perceptual Maps in Marketing Simulation Summary There was a situation that was being made clear in the following, the simulation explains the moribund sales of the Thorr Motorcycles’s creation, the CruiserThorr, had previous customers that are getting older and are no longer interested in what the merchandise represents. The other reason for the product decline consists of the younger customers out in the world seeking

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    Perceptual Maps

    restaurants like subway and schlotzskys and other restaurants. 10a) http://www.mcdonalds.com/us/en/home.html - McDonalds * TM - Low income, convenience themed, Iconic reputation, children niche. * Good positioning – many locations iconic marketing

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    Perceptual Maps in Marketing

    Perceptual Maps in Marketing Thorr Motorcycles Perceptual Maps in Marketing Thorr Motorcycles is a profitable business that saw declines in sales and in customer satisfaction. The first main causes for the recent decline in sales was the target market of buyers between ages 35 and 50 are less interested in the existence that Thorr Motorcycles offers. The second cause was that people between 21 and 35 years are more interested in low-priced models

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    Positioning Map

    Positioning Map Positioning refers to the perception of a product in the minds of consumer in relation to its competing product. Positioning map is a graphical device to study and analyze the positions or perception of each of a group of competing products in respect of two specific product characteristic. It is a basically a graph that represents the strength or extent of the two product characteristics on x and y-axis. To find relative position of different brands of cars in respect of customer

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    Perceptual Mapping

    Using Perceptual Maps in Marketing Simulation Marketing /421 As a marketing manager for Cruiser Thorr who sells high end motorcycles. This organization is growing at a rapid pace. Indeed there is more structure needed to the marketing piece to sustain a successful business. Being that the industry

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    Perceptual Blocks

    Perceptual blocks Sterotyping- being forced to think “traditionally” instead of thinking “outside the box”. Ex. Using a coat hanger to unlock your car door. Limiting the problem unnecessarily- explore and challenge the boundaries of the problem. Ex. Racing another person on foot to a location, while there taking main streets your running through fields and jumping fences. Saturation or information overload- too much information can be just as bad as not enough information. You can become

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    Using Perceptual Maps

    Using Perceptual Maps MKT/421 4/27/2014 Marc Mcclintock Using Perceptual Maps Thorr Motorcycles is a company that manufactures 200,000 motorcycles a year. It’s a very high end brand and known for its quality products including T-shirts, shoes, leather goods, toys, and other consumer items. In this economy were things are currently changing Thorr is affected by a growing industry, but sales of its high-end motor cycle is decreasing. The reason for this loss of market share is that the target

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    Perceputual Maps in Marketing

    Perceptual Maps in Marketing Kathryn Klein MKT 421 April 4, 2014 Neisce Upshaw Perceptual Maps in Marketing Marketing is not just about selling a product or service. There is a lot more than that involved. Marketing is a process of planning, decision making, and eventually utilizing the plan to make generate sales and make a profit. Thorr Motorcycles Inc. is a $5 billion dollar company that manufactures motorcycles and has licenses to sell t-shirts, motorcycles shoes, and other leather

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    Marketing

    wanted to gain a definition to the product positioning through a thorough understanding of attributes that prospective buyers would like about the Samurai as well as the profile and characteristics of potential buyers. They mapped 7 factors on a perceptual map defined as everyday driving, off-road/snow driving, passenger comfort, quality/durability, styling, capacity, and gas mileage. In reviewing research from outside sources, studies showed that the majority (75%) of Samurai buyers were male, and

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    Marketing Map

    Sample Strategy Maps Best Practice Strategy Maps Software Company Strategy Map Financial Perspective Leader in Strategic Markets Increased Shareholder Value Diversify Revenue Streams Predictable Profitability “Customer Intimacy” “eBusiness Solution Leadership” Flexible, Innovative Solutions One Stop Accountability Deliver Comprehensive Solutions “Operational Excellence” Consistently Meets Expectations Customer Perspective Lifelong Advisor Proactively Deliver Value

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    Percetual Maps in Marketing

    Perceptual Maps in Marketing Perceptual maps are a tool that provides input directly from marketing research to the strategic market plan. The perceptual map is graphic illustrations of the data that is collected. The map will only be valid for the parameters that are used to develop the map. There are many aspects of the company to explore, market research to analyze, and competitive intelligence to review. This information will help to identify the items for the perceptual map and the new marketing

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    Maps

    m.) * Variable (ex. shooting stars) Punishment Positive punishment (add bad thing) Negative punishment (take away good) *Both create avoidance behaviors (ex. lie—becomes neg. reinforced) Latest contributions Latent learning (Tolman) - cognitive maps (demonstrate learning after award is given) Intrinsic motivation (desire to do something for its own sake) - When rewards are given for activity that is intrinsically rewarding, enjoyment declines (overjustification effect) Extrinsic motivation (desire

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    Perception Map Presentation

    Perceptual Map Presentation MKT/421 October 2, 2014 Perceptual Map Presentation Introduction Congratulations on the opportunity of purchasing a new Big O Tire franchise. The location you have chosen is a good spot. You will need to raise money for the franchise, marketing research is important to your success, and so is competitive advantage. Raising Money It is important to raise $350,000 for the Big O Tires location on 61st avenue and Bell Road. The address is 6195 W Bell Rd in Glendale

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    Marketing

    The first step in Airvana’s segmentation process is to speak clearly about the vision, or the object of the company’s marketing strategy. The segmentation strategy must be coherent with and resultant from the firm’s mission and objectives. They must also present their situations, its strengths, weaknesses, opportunities, and threats (SWOT). The second step in the segmentation process is to portray the diverse segments, which will assist Airvana to be familiar with the profile of the consumers in

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    Marketing

    [Innocent Cereal Bar] [Marketing] Contents page 1. Marketing Objectives Page 3 2. Target Market 1. Introduction Page 5 2. The whole Organic food and drink market Page 5 3. Segmenting the Market Page 5 4. Description of potential segments Page 5 5. Applying criteria to potential segments Page 5 6. Customer Profile Page 6 3. Customer Perceptual Positioning Map Page 7

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    Perceptual Maps in Marketing Summary

    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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    Marketing

    and got a chance. That’s why they occupy large part of Electronic and automobile industry. 2. List all the brands that you have in your home. Then, research to find the country-of-origin of all the brands on your list. What do you find? How can marketing professionals make use of the information that you have analyzed? What I found is location is really important. Most of products what I brought and used before I came to USA are made in Asian country such as my cellphone, Earphone, and Laptop.

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    Marketing

    UNIT 4 Marketing Principles LO2 Be able to use the concepts of segmentation, targeting and positioning CASE STUDY: You are a Business Development Consultant. Your Firm is hired by a small business enterprise that is facing myriads of marketing and organizational challenges. YOUR JOB AS A BUSINESS DEVELOPMENT CONSULTANT IS TO 1) Analyze the problems in the business, 2) Research solutions and/or benchmark good practices, 3) Make suitable recommendations for improvements, and 4) Help the

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    Hdi Map and Population Map

    Jessica Aquino Geography 1303 15 July 2012 There is a correlation between both the HDI map and annual population map. Both maps seem to be inverse to each other. The countries with low HDI's, like Africa, tend to have the highest population growth rate. Then for the countries with high HDI, like Europe or North America, tend to have the lowest population growth rate. Both are inverse and typically work with each other. The higher the HDI, the lower the population. I don't think that the

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    Using Perceptual Maps in Marketing

    * * * Using Perceptual Maps in Marketing * Thorr Motorcycles is a lucrative business that saw downturns in sales and customer satisfaction. The two reasons for the recent drop in sales are that the current target market of people between 35 and 50 years old are aging and are less interested in the lifestyle that Thorr Motorcycles offers and that the younger market of people between 21 and 35 years old have taken interest in less expensive models of motorcycles. To formulate a positioning

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    Perceptual

    recently opened Luggage Retail store, the store was going through huge loss and was in a situation to get it closed in next 6 month of operation. As an advisor I went through his core business by using strategic marketing tools consisting of Porter’s 5 forces, positioning maps, strategic marketing grid to analyse the reasons for failure, using horizontal opportunities and untapped demand strategic tools to ascertain the treatment. I believed that by using such techniques and strategies, we could turn

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    Perceptual Maps in Marketing

    Perceptual Maps in Marketing Simulation Summary Thorr Motorcycles, Incorporated manufactures various models of motorcycles, and is a $5 billion company. The CruiserThorr power cruiser model provides the company a high brand image in the market, but sales are decreasing. The company contributes the decline to the aging target customers who purchase the cruiser as a lifestyle symbol, and the high cost of the motorcycle. Thorr must reverse the falling sales by developing a marketing plan with the

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    Perceptual Filters

    The more aware you are of your own mental and physical being, the easier it will be to step outside of your self and take control of your perceptual filter before your instinctual emotions do. In other words, with the proper mental conditioning, we can literally change the way “the glass breaks and the rubber bounces.” When you take control of your perceptual filter, you immediately defy the “certain ranges of behavior” that are the “auto pilot” in which the human brain operates on when a person

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    Journey Map

    Journey Map 1) Login / Homepage 2) Campaign Journey Mapping – The first thing I do today might be to plan how I am going to execute a prospect journey. a. Click Prospect Journey VOI (with flag icon) from Recent Items b. Click Program Workflow Tab c. Explain Journey Map i. Received VOI Interest Form – triggers Event/Journey Map. Journey Map dictates prospect experience ii. Send E-mail about VOI iii. 3 Day Delay iv. Did they

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    Using Perceptual Maps in Marketing

    Using Perceptual Maps in Marketing Krissinda Richards MKT 421 December 21, 2011 Dr. Dyrren Davis Using Perceptual Maps in Marketing In the world’s market things are constantly changing. Products are introduced, have a growth period, then it starts to decline and eventually replaced with something new.The Thorr motorcycle simulation describes how the product life cycle of the Cruiser Thorr develops and then slowly declines as time and people change. In this situation, the CruiserThorr has

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    Using Perceptual Maps in Marketing

    Perceptual mapping is a graphics that can display visually the perceptions of a customer or a future customer. The product is displayed on a graph that shows its position relative to the competition. The perceptual map will help a company identify a positioning strategy in relation to the company’s competitors. In the simulation, there were three situations that solutions were needed to be identified. In the following paper, the situation, a proposed solution, and the outcome will be described.

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    Mkt 421 - Perceptual Map Simulation

    Perceptual Map Simulation MKT 421 Perceptual Map Simulation Introduction This paper will take a look at a perceptual map simulation of a motorcycle manufacturer which produces a motorcycle called Cruiser Thorr. A perceptual map is a visual representation of the customer’s perception of the brand, which helps in its positioning. A perceptual map can have several parameters which can overlap in their descriptions. These overlapping parameters are the superficial

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    Marketing

    MARKET SEGMENTS Groups of customers with different wants, buying preferences or product-use behavior TARGET MARKET A market segment for which the seller designs a marketing mix Market Segmentation Process of dividing the total market for a good or service into several smaller, internally homogeneous groups Members of each group are

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    Using Perceptual Maps in Marketing Paper

    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

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    Perceptual Maps Simulation

    MKT/421 May 4, 2012 Perceptual Maps Simulation Introduction While taking the simulation an individual can learn how to use the perceptual maps of marketing to their advantage in different markets. The maps are identified by way of “widely used tools in marketing that provide a visual representation of customer perceptions towards objects (products, brands or companies), and how these are positioned in the marketplace” (The Marketing Analysts, 2011) The paper discussion will explain the

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    Perceptual Maps

    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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    Marketing

    Marketing Simulation Summary - Cruiser Thorr Angela DiMattia MKT/421 June 4, 2012 Matthew Rosenberg Markeitng Simulation Summary - Cruiser Thorr Thorr Motorcycles Inc. is a leader in the motorcycle industry with a turn-over of $ 5 billion, 200,000 units produced yearly, and 40% market share. What drove Thorr Motorcycles Inc. to success is the Lifestyle positioning which created a status buying in the high-end range market. The company’s management

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    Perceptual Maps

    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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    Using Perceptual Maps in Marketing

    Using Perceptual Maps in Marketing Using Perceptual Maps in Marketing Using Perceptual Maps is a great way of interpreting what type of impression the buyer has of the product brand. The buyer’s information from surveys are collected as data and entered into the perceptual map. This information is used to get a better idea of how your product characteristics rate in comparison to those of the competition and to determine your products location in the market. Marketing is not just selling and

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    Marketing

    Running head: USING PERCEPTUAL MAPS IN MARKETING Using Perceptual Maps in Marketing Simulation MKT/421 The Situation Producing more than 200,000 “plus” units per year, Thorr Motorcycles, is a billion dollar manufacturing company. Thorr also offers such services as dealer training, dealer software packages, motorcycle rentals, and rider training, just to name a few. The image that CruiserThorr symbolizes is one of “masculinity, mobility, and freedom”. To gain insight in this

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    Concept Map

    What is a Concept Map? Concept maps, developed by Joseph D. Novak [Novak & Gowin, 1984], are two-dimensional representations of a set of concepts and their relationships. In concept maps, concepts are depicted as labeled nodes, and relationships between concepts as labeled links. Concepts and links in sequence form simple propositions through the words in the nodes and links. Concept maps can be used to represent the knowledge of an individual. Concept maps follow the idea of assimilation theory

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    Marketing

    marketing principles Assessment Task 2 Major group assignment (Marketing Plan) major assignment the marketing plan During this semester students will be working in teams (3 - 4 people) to develop a marketing plan for a product or service of one of the following icon Australian brands: Meadow Lea - Polyunsaturated margarine spreads Nestle – Milo (chocolate and malt powder) Sanitarium – Weetbix Holden – UTE (coupe utility vehicle)

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    Perceptual Mapping

    Perceptual Maps in Marketing Simulation MKT/421 Perceptual mapping is a technique used by marketers to visually display the perceptions of current and potential customers. Thorr Motorcycles is a billion dollar company that offers services in rider training, dealer training, dealer software packages, and motorcycle rentals. The image of Thorr Motorcycles have been sought by customers for years but it is a different

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