Perceptual Mapping

1532 Words Oct 6th, 2008 7 Pages
Tool Summary: Perceptual Mapping

Objectives

• A detailed explanation of how perceptual mapping works, what it does, and what are its critical assumptions
• An application of how perceptual mapping was used, i.e., describing an application of the tool in detail, focusing on procedure, calculations, results, and interpretation.

Background

Branding; is defined by Charles W. Lamb, co-author of Marketing: sixth edition; as a name, term, symbol, design, or combination thereof that identifies a seller’s product or service and differentiates them from competitors’ products. Perhaps, the successful of many businesses has been attributed to the positioning of a product or service associated to a brand that consumers would easily grasp
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Moreover, the through factor analysis would provide a rotated component matrix (VARIMAX) for each of the attributes assigning coordinates, allowing the individual to plot each of them into the perceptual map. Additionally, a component score matrix would be posted as two additional columns to the original data, providing coordinates for each of the brands.

By plotting the coordinates for both brands and attributes in their respective quadrants, the perceptual map is, simultaneously, being drawn. Hence, other brands could be group by competitive clusters and positioning to which the brand at study could be compared in relation to other base on preference. Moreover, the map would provide good and bad gaps, and recommendations could be made as how to occupy good gaps and avoid to fall into bad gaps base on which attributes or perceptions to improve and/or communicate. Additionally, recommendations can also be made according to which positioning is desire, according to which exact quadrant to move into and exact location on the map.

However, the recommendations and positioning strategy are based on a set of three assumptions. Since it is based on a snapshot of costumers’ current perceptions.

Assumptions

I. It pair-wise distances between product or service alternatives directly indicated by perceive similarities or differences between any
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