The phrase “perception is reality” underscores the critical importance of understanding how consumers perceive a product, service, or brand. In marketing, it highlights that consumer perceptions—not objective facts—drive purchasing decisions. Even if a product objectively outperforms its competitors, what truly matters is how the … Read more...
A perceptual map is a visual technique used by marketers to identify the positioning of their products or brands within the market, relative to their key competitors.
There are several variations of a perceptual map, but the most commonly used approach by marketers, and in … Read more...
This section contains a summary of this website in a fast, easy study note format. For full information you should also review the main topics on this site, which includes many helpful diagrams (just follow the links provided for each topic below).
Study notes for the STP Process
Definitions
STP… Read more...
Let’s review the three perceptual maps shown in the ‘what is a perceptual map?’ section of this study guide. Using the checklist of questions , a summary of conclusions that can be drawn is provided following each map.
Please note … Read more...
Perceptual maps are designed to provide a visual summary of how consumers perceive the positioning of the different brand/product offerings in the market. In most cases, they are relatively simple to understand and interpret and, perhaps surprisingly, they are able to provide a … Read more...
Perceptual maps rely on data that reflects consumer perceptions of products and their attributes in a competitive market. There are two primary methods to gather the data necessary for constructing perceptual maps: market research and management understanding. Each method … Read more...
Perceptual mapping is an invaluable tool in marketing strategy, providing insights into consumer perceptions, competitive landscapes, and market opportunities. By visually representing how consumers perceive products or services based on key attributes, perceptual maps allow marketers to make informed decisions about positioning, product development, and promotional … Read more...
The first perceptual map format (which is the most common format presented in introductory marketing textbooks) relies on two determinant attributes. As we know, an attribute is any feature, function, or benefit of a product (making products simply the sum of their multiple attributes).
But what … Read more...
When deciding upon a brand’s/product’s positioning in the marketplace, the organization must ensure that end positioning has both sufficient points-of-parity (POP) and points-of-difference (POD). What this means is that you want the brand/product to be consider equal/similar (on par with, hence the word ‘parity’) with the … Read more...
