Asked by Ana Bel Montes on Jul 15, 2024
Verified
What are the four steps to positioning a product with a perceptual map?
Positioning
The strategic process of establishing a product or brand's identity and value proposition in the minds of consumers, relative to competitors.
Perceptual Map
A visual tool used in marketing to map consumer perceptions of brands or products on various dimensions.
Product
A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value.
- Describe how data is utilized in the development of perceptual maps and the positioning of products in the market.
Verified Answer
(2) Discover how target customers rate competing products or brands with respect to these attributes.
(3) Discover where the company's product or brand is on these attributes in the minds of potential customers.
(4) Reposition the company's product or brand in the minds of potential customers. As shown in Figure 9-9, from these data it is possible to develop a perceptual map, a means of displaying in two dimensions the location of products or brands in the minds of consumers.
Learning Objectives
- Describe how data is utilized in the development of perceptual maps and the positioning of products in the market.
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