Perceptual Mapping

HELLOSSS!!!!

Today we had a class on Perceptual Mapping also known as Multi-Dimensional Scaling. A perceptual map is a visual representation of how target customers view the competing alternatives in a Euclidean space which represents the market. By mapping the perceptions of one’s product or brand one could understand the relationship between the competitors and the mind behind the decisions made by the customers. Pair-wise distances between product alternatives directly indicate how close or far apart the products are in the minds of customers. There are two possible methods to collect information on consumer’s perception of products: 

1.      Attribute based method (Factor Analysis)

2.      Similarity-Based method (Multi-Dimensional Scaling)

We used the ‘PERMAP’ software to work on perceptual mapping. The objective function value indicated the scope of error.

In class we worked on two examples:

1)      Different variety of noodles

2)      Soft Drinks

(Preferences over one another and how similar are they to one another)

Perceptual mapping could help us in:

• Brand positioning
• Market segmentation
• Product positioning
• Positioning analysis
• Cluster analysis
• And many more such analysis

Link:

http://www.youtube.com/watch?v=wphoXc0qANE

http://www.google.co.in/url?sa=t&rct=j&q=perceptual%20mapping%20multidimensional%20scaling&source=web&cd=4&sqi=2&ved=0CD0QFjAD&url=http%3A%2F%2Fgroups.haas.berkeley.edu%2Fmarketing%2FCOURSES%2FXMBA206%2Fperceptualmaps.ppt&ei=lYINT6OjNI-srAfVof2uBA&usg=AFQjCNGzIH9-QblgqB_M3eyPog6Sz7iZpg&cad=rja

cya soon byeee!!!