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PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421 - Document preview page 1

PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421 - Page 1

Document preview content for PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421

PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421

This Homework Presentation explains the role of perception maps in identifying market positioning.

Ethan Brown
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PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421 - Page 1 preview imagePERCEPTUAL MAPSRole of Perception MapsMKT 421NamePresented By
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PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421 - Page 2 preview image
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PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421 - Page 3 preview imageIntroductionThe perceptual map is a diagrammaticrepresentation of how customers perceive acertain product in the market.Perceptual mapping is important because ithelps the company to use the position in themap to do marketingThe map can be created by placing theproduct brand by line or relative tocompetitionPerception maps show the exact positionof a product or a brand in the market
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PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421 - Page 4 preview imageWhy Perceptual MapsPerceptual maps are helpful intesting how the product isperceived by customers and also itsperformance on the market.It is used to test what consumersthink of a productIt can be used when developing anew product by supporting researchand development.Perceptual maps guide companieswhen segmenting product
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PERCEPTUAL MAPS: Role Of Perception Maps - MKT 421 - Page 5 preview imageContd.Consumer perceptions are guidedby the preferences of customershence the need for axis on the mapAxes represent underlyingdimensions that respondents use toform perceptions and preferencesof brands.Whilemarket trends can determinethe preferences of customers,brand presence and loyalty plays akey role.
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Document Details

University
University of Phoenix
Course
MKT 421
Subject
Marketing

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