Perceptual Maps in Marketing

Perceptual Maps in Marketing

Introduction

Companies around the world are using different strategies to position their products or services. Among these strategies perceptual mapping has got extensive popularity in marketing area. The perceptual map is a multivariate statistical technique that consists of a pattern formed by axes and positions that easily represents the image of the products and their attributes Perceptual maps relate to methods for analyzing and understanding a synthetic, consumer perceptions about different products, resulting in a representation, usually on a plane, the multivariate complex world of the views (Kotler & Armstrong, 2012). The maps produced perceptions of products or a drawing or map of a market. These maps show how products are perceived in specific facets or attributes such as reputation, price, quality, packaging etc. it also shows how several competing products are positioned in the minds of consumers and suggest how they can be positioned to maximize their choice and their sale. This paper aims to analyze the market position for Cruise Thorr by using perceptual maps.

Relationship between differentiation and positioning of products or services

In a competitive environment in which two or more brands compete for the preference of a target audience, determining how to differentiate themselves from other brands and then positioned in the minds of customers is essential for success in these markets. It is therefore essential that employers, entrepreneurs and marketers know very well the concepts related to the differentiation and positioning and how to apply (Kotler & Armstrong, 2012). Differentiation and positioning strategies start in the mind of marketer. The importance of differentiation and positioning focus on the need to establish market of products or services and communicate, some ideas of how to do it and a couple of recommendations for implementation of the strategies (Hooley, et.al, 2004). Differentiation of the product or service is the action to make a difference with other companies or products based on the advantages of the brand, which are perceived as important by the target audience. On the other hand positioning is defined as the act of designing the supply and image of a company so that they occupy a distinctive place in the minds of consumers.

Today, there is still much confusion between differentiation and positioning of brands, products, companies, etc. Both are related but not the same. According to many authors the relationship between the positioning and differentiation of product or service is that they go further than product differentiation (Trout & Rivkin, 2010). While differentiation is not only to develop different products to avoid competition, positioning is to guide, to a specific point in the minds of consumers, the perception they generate the product. The positioning of the product incorporates a sense of direction, rather than a simple sense of difference. The difference between these two concepts is consistent with the ability of marketing men to interfere in market structure. In more clear terms positioning is what you do in the minds of prospective ...