One of the most important pieces of data to any marketer is the perception of a given audience to a product, service, brand or industry. What do people think about what you are selling? While there are many ways to gather this data, they are not always effective at conveying exactly how you compare to your competitors in that field. This is why perceptual mapping becomes such a valuable tool.
If you are interested in learning more about perceptual mapping as a tool to better understand the response of your customers and potential customers to position in the market, contact Research Optimus today. We can help you develop a clear outline of data related to these perceptions and use it in a way that will benefit your next marketing campaign.
Perceptual mapping is valuable for a number of reasons, most notably the fact that it provides integral data about the relation of a product to those of your competitors. Perceptual Mapping is a visual tool that presents how your products, services or brand compare to your competitor's. The unique nature of the analysis will enable you to develop the right marketing strategy for your specific niche, as well as develop a strong competitive strategy, communication strategy and more.
More importantly, this form of analysis allows you to identify potential gaps in the market in which you can develop new products. Finding unfulfilled needs and consumer desires is a positive side effect of perceptual mapping that many of our clients have taken advantage of.
There are a number of ways to map the responses provided by customers and potential customers during surveys and other data collection activities, including:
Also called intuitive maps, these are created based on the core understanding of the individual of the market. These are valuable in that they can be compared to maps based on more in-depth data and reveal biases in your decision making process.
We use this to produce ideal vectors within the perceptual mapping model.
This method allows us to create ideal points and competitor positions with which to better analyze the data.
We can create a positioning map of where you stand to best present your company in relation to your competitors.
By using these tools we can better understand exactly what types of responses you want to elicit from your competitors and your prospective customers in the market place.
Using tools like factor analysis, discriminant analysis, cluster analysis and logit analysis we can better understand exactly what the data means, present it in an easy-to-read format and ensure you can make the right decision based on the market into which you are marketing your products.
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