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Perceptual mapping

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2. PERCEPTUAL MAPPING IS A GRAPHIC DISPLAY EXPLAINING THE PERCEPTIONS OF CUSTOMERS WITH RELATION TO PRODUCT CHARACTERISTICS. Perceptual Mapping 3. Need for perceptual mapping? Perceptual maps help you understand what consumers think about your brand. Perceptual maps help you understand what consumers think about your competitors brands. Perceptual maps help you build an effective marketing strategy. 4. Perceptual Mapping Process Specify the relevant objects or products. Relevance means that the set of product chosen must be the set of competitive product that are relevant for managerial decision-making. Perceptual mapping involves 2 steps: 1. Data collection 2. Data analysis and presentation. 5. Methodologies. Methodologies adopted to collect information on consumer perception of products are, A. Attribute based method(Factor analysis) B. Similarity based method(Multi Dimensional scaling) 6. Attribute based method Decide on the set of relevant attribute on which to capture perceptions of the consumer. Highly correlated attribute shall be combined to create a single new dimension of original attributes. Take out the attribute on which all product are rated the same. Analyze the data using SPSS and SAS. 7. Key words Demand void: Areas without any significant consumer desires; typically found in ideal point maps of perception mapping. Ideal points map: Ideal points maps reflect ideal combinations of two product characteristics as seen by a consumer. This helps marketers accurately target their message to consumers based on consumer desires. 8. Perceptual Map News paper The quality and price are attribute. 9. Perceptual map Fast food stalls High quality High price low quality Low price Perceptual Map Fast food stalls The quality and price are attributes. 10. Similarity based method The respondent will be ranking on the scale of 1-6 the similarity of two products i.e. 1- exactly same and 6 total opposite. Analyze the data using SPSS or SAS Multidimensional scaling is mathematical technique that help implement this analysis of similarity perception within minimum information loss. 11. Perceptual map Fast food stallsSimilarity Mapping 4.5 2 5.5 12. Advantage and disadvantages Similarity based method approach: Advantages 1.The attributes are not specified during the evaluation and respondents give their perception of the brand without the attributes 2.They can be developed at individual or aggregate level Disadvantages 1.No objective basis based on which the respondents evaluate the brands. There is very little guidance for these actions 2.Only general guidelines and prior beliefs are used to define the dimensions of the percpetual maps 13. Advantage and disadvantages Attribute based method approach. Advantages 1.Based on many attributes, the respondents give their inputs for each brand and this provides an explicit description of the dimensions in the perceptual map 2.Both brands and attributes can be represented on a single map which is useful for competitive analysis Disadvantages 1.Brand evaluations are limited to the attributes by the respondents 2.Results are usually available in aggregate form

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