PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421

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PERCEPTUAL MAPS Role of Perception Maps MKT 421 Name Presented By
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Introduction  The perceptual map is a diagrammatic representation of how customers perceive a certain product in the market.  Perceptual mapping is important because it helps the company to use the position in the map to do marketing  The map can be created by placing the product brand by line or relative to competition  Perception maps show the exact position of a product or a brand in the market
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Why Perceptual Maps  Perceptual maps are helpful in testing how the product is perceived by customers and also its performance on the market.  It is used to test what consumers think of a product  It can be used when developing a new product by supporting research and development.  Perceptual maps guide companies when segmenting product
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Contd.  Consumer perceptions are guided by the preferences of customers hence the need for axis on the map  Axes represent underlying dimensions that respondents use to form perceptions and preferences of brands.  While market trends can determine the preferences of customers, brand presence and loyalty plays a key role.

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