Perceptual mapping have various statistical and mathematical methods used to produce perceptual maps, however, published research has found that multi-dimensional scaling provides the most reliable methodology.
A perceptual map is a visual representation of how target customers view the competing alternatives in a Euclidean space which represents the market. The perceptual map has the following characteristics:
Pair-wise distances between product alternatives directly indicate how close or far apart the products are in the minds of customers
A vector on the map indicates both magnitude and direction in the Euclidean space. Vectors are usually used to
geometrically denote attributes of the perceptual maps
The axes of the map are a special set of vectors suggesting the underlying dimensions that best characterize how
customers differentiate between alternatives
The perceptual mapping is used for following purpose:
1. To gain competitive advantage, a firm must correctly position itself, its products, or services against competitive
offerings.
2. Need to develop a Mental Map of how our product is perceived by consumers relative to the different competing
products in the marketplace.
3. Linking Segmentation and Positioning.
4. Techniques that help us to construct such mental or Perceptual Maps are called Multidimensional Scaling and Factor Analysis.
A perceptual map is a visual representation of how target customers view the competing alternatives in a Euclidean space which represents the market. The perceptual map has the following characteristics:
Pair-wise distances between product alternatives directly indicate how close or far apart the products are in the minds of customers
A vector on the map indicates both magnitude and direction in the Euclidean space. Vectors are usually used to
geometrically denote attributes of the perceptual maps
The axes of the map are a special set of vectors suggesting the underlying dimensions that best characterize how
customers differentiate between alternatives
The perceptual mapping is used for following purpose:
1. To gain competitive advantage, a firm must correctly position itself, its products, or services against competitive
offerings.
2. Need to develop a Mental Map of how our product is perceived by consumers relative to the different competing
products in the marketplace.
3. Linking Segmentation and Positioning.
4. Techniques that help us to construct such mental or Perceptual Maps are called Multidimensional Scaling and Factor Analysis.