Perceptual Map - Explained
What is a Perceptual Map?
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Table of ContentsWhat is a Perceptual Map? How to Create a Perceptual Map
What is a Perceptual Map?
A perceptual map is used to examine how a product or brand is positioned in the market in comparison to competitors. A perceptual map is just a visual representation, kind of like a graph, with two different dimensions (such as price and quality), which could be any sort of combination that you think is important to your product or brand.
How to Create a Perceptual Map
Once you identify the two variables you wish to assess in the map, you measure customer perceptions about your product/brand and plot that on the map. You would then do the same for any competitors. If the results reveal a space on that graph, one that nobody occupies now, it could be a strategic opportunity.
Of course, you would then take steps to examine the reason for the gap (such as a gap for high price low quality products - which are not desirable in the market). The hope, however, is to identify a naturally occurring gap for a strategically positioned product that competitors have not filled yet.
Also, where a brand/product falls on a perceptual map should be a useful guide to how it positions and promotes itself. In summary, it allows the user to see where the product/brand is positioned in the market.
- What is a Market?
- What is Target Marketing?
- What is Market Segmentation?
- How Many Segments to Target?
- How Do We Segment Consumer Markets?
- Benefit Segmentation
- How Do We Segment Business Markets?
- Using Data for Market Segmentation
- Buying Power Index
- What is Customer Relationship Management?
- What is Behavioral Targeting?
- What is Positioning?
- What is a Positioning Statement?
- What is a Perceptual Map?
- Cultural Factors Affecting Marketing
- International Marketing is Challenging