The group presents a food for thought as to why Perceptual Mapping is needed and how it can be helpful to marketers and businesses alike.
Perceptual mapping is a technique used by marketing professionals to visually demonstrate the ways in which the products of a company or industry are perceived by consumers. This can include current customers as well as consumers who could potentially be attracted to a product or company. Marketers use this technique when they are in the process of developing new product campaigns and also when they want to improve existing marketing. Visually representing consumer opinions can help marketers more clearly identify areas in which a company needs work or sectors of the market which are relatively free of competition and thus could be convenient niches.
To use perceptual mapping, marketeers can use survey data which has questions related to perception. For example- marketers of an alcohol company might want to map attributes related to brands of alcohol on - taste, smoothness, taste and quality. They can gather data and understand the overall market.
Data points form an integral part of the perceptual map. A series of plot points may be generated with each point signifying a rival product or brand. Laying out the perceptual map gives a fair idea to the marketers about the possible new campaigns that can be looked at as branding exercise for the future.
Perceptual mapping is a technique used by marketing professionals to visually demonstrate the ways in which the products of a company or industry are perceived by consumers. This can include current customers as well as consumers who could potentially be attracted to a product or company. Marketers use this technique when they are in the process of developing new product campaigns and also when they want to improve existing marketing. Visually representing consumer opinions can help marketers more clearly identify areas in which a company needs work or sectors of the market which are relatively free of competition and thus could be convenient niches.
To use perceptual mapping, marketeers can use survey data which has questions related to perception. For example- marketers of an alcohol company might want to map attributes related to brands of alcohol on - taste, smoothness, taste and quality. They can gather data and understand the overall market.
Data points form an integral part of the perceptual map. A series of plot points may be generated with each point signifying a rival product or brand. Laying out the perceptual map gives a fair idea to the marketers about the possible new campaigns that can be looked at as branding exercise for the future.
Under Multivariate Analysis, correspondence analysis is used to devise perceptual maps for brands. Brand Imagery can also be mapped using the correspondence analysis. After the map is created, various associations are created within attributes and competitive brands which is useful information for the marketers.
Nikhil Malhotra
Team E
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