What are the key considerations in labelling dimensions in perceptual mapping?

  

Review “perceptual mapping” located on the Week 2 ERR page. prepetual Marketing.docxReview the example perceptual map in Exhibit 4-14 in Ch. 4 of Basic Marketing. Exhibit 4-14.docxSelect an industry with many competitors.Select two key variables that segment the competition.Complete a perceptual map that includes a minimum of 10 competitors from that same industry. Explain why you placed each competitor on its particular spot on the map.Create a 10- to 15-slide MicrosoftPowerPointpresentation with your map and competitor explanations. Include a summary slide at the beginning of your presentation.All work must be original and plagiarism free. Late work will not receive payment.
A technique used in marketing to depict how brands are perceived relative to one another, when
mapped in two or more dimensions. Also called position mapping. A list of brands is specified,
e.g. say, ten brands of curry paste. Respondents are asked to say how similar they think these
brands are to one another (A is similar to C, D is similar to E, etc.). It is respondents’ perceptions
of similarity that are captured these might not accurately mirror objective similarities, e.g.
people may think A is similar to C when, in fact, the two brands of curry paste have quite
different ingredients. A statistical procedure is employed to obtain spatial positions of the brands
in multidimensional space to reflect these perceptions. A common procedure is multidimensional
scaling, for which there is off-the-shelf software, e.g. PREFMAP, INDSCAL. Output is depicted
as a map. This conveys the relative position of the brands, but does not relate to any absolute
measure of distance.
The number of dimensions (two, three, etc.) depends on how many are needed to plot the data
without incurring an intolerable level of stress. The dimensions themselves are derived without
labels, and great care must be taken in labelling them. A formal way to label dimensions involves
the use of attribute ratings. At the same time as similarity data are collected, the researcher asks
respondents to rate (on a ratings scale) each brand for a number of attributes (taste, quality
ingredients, price and so forth). Each attribute is assessed for how closely it corresponds with the
dimensions (low-high price may be closest to dimension 1; thus, dimension 1 is labelled the price
axis). Although formal, the selection of attributes is subjective.
In marketing, a popular alternative to the use of similarity data is the use of preference data, i.e.
data where an evaluation of one item dominates another. Data may be in the form of paired
comparisons (is A preferred over C?) or rankings (A is most preferred, followed by C, etc.).
Similar procedures apply, but with preference data it is possible to investigate ideal points, e.g.
by including a hypothetical brand X into the preference comparisons or ranking. The word
ideal here is misleading because X may be far from ideal. It is also possible to locate ideal
combinations of attributes on the map either for individual consumers or segments and see
which brands (if any) are close to the ideal. Various marketing implications might follow,
including the possibility of designing a new product for an unmet market (seen as an empty
quadrant on the perceptual map) or repositioning an existing product to be closer to the ideal
point of a segment than competitors. This form of analysis is very beguiling but it can be very
misleading, e.g. an empty quadrant may represent an unmet need or a phantom market, and a
new brand may get closer to the ideal point of a segment but, in so doing, change the whole
configuration of the map (including a relative shift in the ideal point). One of the most popular
business games, MARKSTRAT, uses these facets of perceptual mapping to simulate the
dynamic interplay of competing firms in established and new markets.
The technique is applied in product and brand positioning studies. new product
development;positioning; segment-target-position strategy. Informally, the ideas behind
perceptual mapping are reflected in the thinking of many marketing managers, even though they
may never make use of the formal techniques.
Copyright Evan Davies, Graham Bannock, Mark Uncles, Paul Trot, 2003.
Save

APA
Chicago
Harvard
MLA
Perceptual mapping. (2003). In G. Bannock (Ed.), The new penguin Business Dictionary.
London, United Kingdom: Penguin. Retrieved from
http://search.credoreference.com.ezproxy.apollolibrary.com/content/entry/penguinbus/perceptual
_mapping/0
Exhibit 4-14 Product Space Representing Consumers Perceptions for
Different Brands of Bar Soap
Exhibit 4-14 shows the product space for different brands of bar soap
using two dimensionsthe extent to which consumers think the soaps
moisturize and deodorize their skin. For example, consumers see Dove as
quite high on moisturizing but low on deodorizing. Dove and Tone are close
togetherimplying that consumers think of them as similar on these
characteristics. Dial is viewed as different from Dove and Tone and at a
distance from them on the graph. Remember that positioning maps are based
oncustomers perceptionsthe actual characteristics of the products (as
determined by a chemical test) might be different!
AT&Ts cell phones have more coverage around the world as
compared with its competition. Its advertising campaign tells
customers about this point of differentiation.
Courtesy Client: AT & T; Agency: BBDO/Atlanta

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Introduction:
Perceptual mapping is a popular technique used in marketing to understand how brands are perceived in relation to their competitors. By using two or more dimensions, this method captures consumer perceptions of brand similarities, which might not always align with objective similarities. This technique helps marketers better understand their brand’s position in the market and make informed decisions to improve their market share.

Description:
Perceptual mapping involves obtaining data on consumer perceptions of brand similarities and using multidimensional scaling to obtain spatial positions of these brands in multidimensional space. These perceptions are then represented as a map, which shows the relative position of different brands in the market. This helps in identifying the brand’s market position and also to develop strategies to improve their position.

To create a perceptual map, one needs to select an industry with many competitors and choose two key variables that segment the competition. This map usually includes a minimum of 10 competitors from the same industry. To explain the position of each competitor on the map, marketers need to consider factors such as attributes like price, quality, and taste. The selection of attributes can be subjective and must be carefully chosen.

In marketing, perceptual mapping is a valuable tool that can help marketers understand the competitive landscape, identify gaps in the market, and improve their brand’s market position. The presentation of the map and the competitor explanation should be clear and concise to convey the message effectively.

Objectives:
– To understand the concept of perceptual mapping in marketing.
– To learn how to create a perceptual map and place competitors on it.
– To understand how multidimensional scaling is used in creating a perceptual map.
– To learn about the use of attribute ratings and preference data in creating a perceptual map.

Learning Outcomes:
By the end of this task, learners will be able to:
– Define perceptual mapping and explain its importance.
– Create a perceptual map and place competitors on it based on two key variables.
– Explain the placement of each competitor on the map based on their perceived similarity and attributes.
– Understand the use of multidimensional scaling and attribute ratings in creating a perceptual map.
– Differentiate between similarity data and preference data in creating a perceptual map.
– Identify ideal points and ideal combinations of attributes on a perceptual map.

Heading 1: Introduction to Perceptual Mapping
– Define perceptual mapping and explain its importance in marketing.
– Explain how brands are perceived relative to one another when mapped in two or more dimensions.
– Discuss the use of position mapping.

Heading 2: Creating a Perceptual Map
– Discuss the process to create a perceptual map.
– Explain how to select an industry with many competitors.
– Explain how to select key variables that segment the competition.
– Explain how to place a minimum of 10 competitors on a perceptual map.
– Discuss the importance of explaining the placement of each competitor on the map.

Heading 3: Using Multidimensional Scaling and Attribute Ratings
– Discuss the use of multidimensional scaling in creating a perceptual map.
– Explain the role of attribute ratings in creating a perceptual map.
– Discuss how attributes can be assessed for how closely they correspond with the dimensions.
– Highlight the subjective nature of selecting attributes.

Heading 4: Using Preference Data
– Explain the use of preference data in creating a perceptual map.
– Differentiate between the use of similarity data and preference data.
– Discuss the importance of investigating ideal points and ideal combinations of attributes on the map.

Heading 5: Conclusion
– Summarize the key points discussed in the presentation.
– Highlight the importance of understanding perceptual mapping in marketing.

Solution 1: Perceptual Map for the Smartphone Industry

In the highly competitive smartphone industry, two key variables used to segment the market are price and innovation. We created a perceptual map that maps 10 competitors using these two variables. The x-axis represents price and the y-axis represents innovation.

On the top-right quadrant, we placed Apple iPhone 12 due to its high innovation and premium price point. Google Pixel 5 is also placed in the top-right quadrant due to its innovative camera technology and mid-range price point.

On the bottom-right quadrant, we placed Samsung Galaxy S21 Ultra due to its premium price point and best camera technology. Oppo Find X3 Pro is also placed in the bottom-right quadrant due to its high price and innovative camera and display technology.

On the top-left quadrant, we placed OnePlus 9 Pro due to its innovation and reasonable price point which caters to customers seeking innovation and value for money. Xiaomi Mi 11 is also placed in the top-left quadrant due to its highly innovative features and affordable price point.

In the bottom-left quadrant, we placed Nokia 5.4 due to its affordable price point and standard features. Realme 7 Pro, POCO X3 Pro, Motorola G100, and Vivo Y72 5G were also placed in this quadrant due to their affordable prices and standard features.

Solution 2: Perceptual Map for the Sports Shoe Industry

In the sports shoe industry, two key variables used to segment the market are comfort and performance. We created a perceptual map that maps 10 competitors using these two variables. The x-axis represents comfort and the y-axis represents performance.

On the top-right quadrant, we placed Nike Vaporfly due to its high-performance design and excellent comfort features. Adidas UltraBoost is also placed in the top-right quadrant due to its excellent performance features and high comfort level.

On the bottom-right quadrant, we placed Under Armour Hovr Phantom due to its strong performance features and reasonable level of comfort. Asics Gel-Kayano is also placed in the bottom-right quadrant due to its strong performance features and standard comfort level.

On the top-left quadrant, we placed New Balance 990v5 due to its high comfort level and reasonable performance level. Brooks Ghost 12 is also placed in the top-left quadrant due to its high comfort level and standard performance level.

In the bottom-left quadrant, we placed Reebok Forever Floatride Energy 2.0 due to its standard comfort and performance features. Skechers GO RUN Ride 7, Puma Ignite Flash evoKNIT and Mizuno Wave Rider 23 were also placed in this quadrant due to their average comfort and performance features.

Suggested Resources/Books:
1. Perceptual Mapping: Techniques, Applications, and Limitations (Marketing and Consumer Psychology Series) by Michael Breazeale
2. Marketing Research: Methodological Foundations by Dawn Iacobucci
3. Marketing Analytics: Strategic Models and Metrics by Stephan Sorger

Similar Asked Questions:
1. What is perceptual mapping and how is it used in marketing?
2. Can perceptual mapping provide accurate information about consumer perceptions?
3. What are the key variables that are typically used to segment competition in perceptual mapping?
4. How does attribute rating help with the labeling of dimensions in perceptual mapping?
5. What are some common software tools used in the process of perceptual mapping?Review “perceptual mapping” located on the Week 2 ERR page. prepetual Marketing.docxReview the example perceptual map in Exhibit 4-14 in Ch. 4 of Basic Marketing. Exhibit 4-14.docxSelect an industry with many competitors.Select two key variables that segment the competition.Complete a perceptual map that includes a minimum of 10 competitors from that same industry. Explain why you placed each competitor on its particular spot on the map.Create a 10- to 15-slide MicrosoftPowerPointpresentation with your map and competitor explanations. Include a summary slide at the beginning of your presentation.All work must be original and plagiarism free. Late work will not receive payment.
A technique used in marketing to depict how brands are perceived relative to one another, when
mapped in two or more dimensions. Also called position mapping. A list of brands is specified,
e.g. say, ten brands of curry paste. Respondents are asked to say how similar they think these
brands are to one another (A is similar to C, D is similar to E, etc.). It is respondents’ perceptions
of similarity that are captured these might not accurately mirror objective similarities, e.g.
people may think A is similar to C when, in fact, the two brands of curry paste have quite
different ingredients. A statistical procedure is employed to obtain spatial positions of the brands
in multidimensional space to reflect these perceptions. A common procedure is multidimensional
scaling, for which there is off-the-shelf software, e.g. PREFMAP, INDSCAL. Output is depicted
as a map. This conveys the relative position of the brands, but does not relate to any absolute
measure of distance.
The number of dimensions (two, three, etc.) depends on how many are needed to plot the data
without incurring an intolerable level of stress. The dimensions themselves are derived without
labels, and great care must be taken in labelling them. A formal way to label dimensions involves
the use of attribute ratings. At the same time as similarity data are collected, the researcher asks
respondents to rate (on a ratings scale) each brand for a number of attributes (taste, quality
ingredients, price and so forth). Each attribute is assessed for how closely it corresponds with the
dimensions (low-high price may be closest to dimension 1; thus, dimension 1 is labelled the price
axis). Although formal, the selection of attributes is subjective.
In marketing, a popular alternative to the use of similarity data is the use of preference data, i.e.
data where an evaluation of one item dominates another. Data may be in the form of paired
comparisons (is A preferred over C?) or rankings (A is most preferred, followed by C, etc.).
Similar procedures apply, but with preference data it is possible to investigate ideal points, e.g.
by including a hypothetical brand X into the preference comparisons or ranking. The word
ideal here is misleading because X may be far from ideal. It is also possible to locate ideal
combinations of attributes on the map either for individual consumers or segments and see
which brands (if any) are close to the ideal. Various marketing implications might follow,
including the possibility of designing a new product for an unmet market (seen as an empty
quadrant on the perceptual map) or repositioning an existing product to be closer to the ideal
point of a segment than competitors. This form of analysis is very beguiling but it can be very
misleading, e.g. an empty quadrant may represent an unmet need or a phantom market, and a
new brand may get closer to the ideal point of a segment but, in so doing, change the whole
configuration of the map (including a relative shift in the ideal point). One of the most popular
business games, MARKSTRAT, uses these facets of perceptual mapping to simulate the
dynamic interplay of competing firms in established and new markets.
The technique is applied in product and brand positioning studies. new product
development;positioning; segment-target-position strategy. Informally, the ideas behind
perceptual mapping are reflected in the thinking of many marketing managers, even though they
may never make use of the formal techniques.
Copyright Evan Davies, Graham Bannock, Mark Uncles, Paul Trot, 2003.
Save

APA
Chicago
Harvard
MLA
Perceptual mapping. (2003). In G. Bannock (Ed.), The new penguin Business Dictionary.
London, United Kingdom: Penguin. Retrieved from
http://search.credoreference.com.ezproxy.apollolibrary.com/content/entry/penguinbus/perceptual
_mapping/0
Exhibit 4-14 Product Space Representing Consumers Perceptions for
Different Brands of Bar Soap
Exhibit 4-14 shows the product space for different brands of bar soap
using two dimensionsthe extent to which consumers think the soaps
moisturize and deodorize their skin. For example, consumers see Dove as
quite high on moisturizing but low on deodorizing. Dove and Tone are close
togetherimplying that consumers think of them as similar on these
characteristics. Dial is viewed as different from Dove and Tone and at a
distance from them on the graph. Remember that positioning maps are based
oncustomers perceptionsthe actual characteristics of the products (as
determined by a chemical test) might be different!
AT&Ts cell phones have more coverage around the world as
compared with its competition. Its advertising campaign tells
customers about this point of differentiation.
Courtesy Client: AT & T; Agency: BBDO/Atlanta

Introduction:
Perceptual mapping is a popular technique used in marketing to understand how brands are perceived in relation to their competitors. By using two or more dimensions, this method captures consumer perceptions of brand similarities, which might not always align with objective similarities. This technique helps marketers better understand their brand’s position in the market and make informed decisions to improve their market share.

Description:
Perceptual mapping involves obtaining data on consumer perceptions of brand similarities and using multidimensional scaling to obtain spatial positions of these brands in multidimensional space. These perceptions are then represented as a map, which shows the relative position of different brands in the market. This helps in identifying the brand’s market position and also to develop strategies to improve their position.

To create a perceptual map, one needs to select an industry with many competitors and choose two key variables that segment the competition. This map usually includes a minimum of 10 competitors from the same industry. To explain the position of each competitor on the map, marketers need to consider factors such as attributes like price, quality, and taste. The selection of attributes can be subjective and must be carefully chosen.

In marketing, perceptual mapping is a valuable tool that can help marketers understand the competitive landscape, identify gaps in the market, and improve their brand’s market position. The presentation of the map and the competitor explanation should be clear and concise to convey the message effectively.

Objectives:
– To understand the concept of perceptual mapping in marketing.
– To learn how to create a perceptual map and place competitors on it.
– To understand how multidimensional scaling is used in creating a perceptual map.
– To learn about the use of attribute ratings and preference data in creating a perceptual map.

Learning Outcomes:
By the end of this task, learners will be able to:
– Define perceptual mapping and explain its importance.
– Create a perceptual map and place competitors on it based on two key variables.
– Explain the placement of each competitor on the map based on their perceived similarity and attributes.
– Understand the use of multidimensional scaling and attribute ratings in creating a perceptual map.
– Differentiate between similarity data and preference data in creating a perceptual map.
– Identify ideal points and ideal combinations of attributes on a perceptual map.

Heading 1: Introduction to Perceptual Mapping
– Define perceptual mapping and explain its importance in marketing.
– Explain how brands are perceived relative to one another when mapped in two or more dimensions.
– Discuss the use of position mapping.

Heading 2: Creating a Perceptual Map
– Discuss the process to create a perceptual map.
– Explain how to select an industry with many competitors.
– Explain how to select key variables that segment the competition.
– Explain how to place a minimum of 10 competitors on a perceptual map.
– Discuss the importance of explaining the placement of each competitor on the map.

Heading 3: Using Multidimensional Scaling and Attribute Ratings
– Discuss the use of multidimensional scaling in creating a perceptual map.
– Explain the role of attribute ratings in creating a perceptual map.
– Discuss how attributes can be assessed for how closely they correspond with the dimensions.
– Highlight the subjective nature of selecting attributes.

Heading 4: Using Preference Data
– Explain the use of preference data in creating a perceptual map.
– Differentiate between the use of similarity data and preference data.
– Discuss the importance of investigating ideal points and ideal combinations of attributes on the map.

Heading 5: Conclusion
– Summarize the key points discussed in the presentation.
– Highlight the importance of understanding perceptual mapping in marketing.

Solution 1: Perceptual Map for the Smartphone Industry

In the highly competitive smartphone industry, two key variables used to segment the market are price and innovation. We created a perceptual map that maps 10 competitors using these two variables. The x-axis represents price and the y-axis represents innovation.

On the top-right quadrant, we placed Apple iPhone 12 due to its high innovation and premium price point. Google Pixel 5 is also placed in the top-right quadrant due to its innovative camera technology and mid-range price point.

On the bottom-right quadrant, we placed Samsung Galaxy S21 Ultra due to its premium price point and best camera technology. Oppo Find X3 Pro is also placed in the bottom-right quadrant due to its high price and innovative camera and display technology.

On the top-left quadrant, we placed OnePlus 9 Pro due to its innovation and reasonable price point which caters to customers seeking innovation and value for money. Xiaomi Mi 11 is also placed in the top-left quadrant due to its highly innovative features and affordable price point.

In the bottom-left quadrant, we placed Nokia 5.4 due to its affordable price point and standard features. Realme 7 Pro, POCO X3 Pro, Motorola G100, and Vivo Y72 5G were also placed in this quadrant due to their affordable prices and standard features.

Solution 2: Perceptual Map for the Sports Shoe Industry

In the sports shoe industry, two key variables used to segment the market are comfort and performance. We created a perceptual map that maps 10 competitors using these two variables. The x-axis represents comfort and the y-axis represents performance.

On the top-right quadrant, we placed Nike Vaporfly due to its high-performance design and excellent comfort features. Adidas UltraBoost is also placed in the top-right quadrant due to its excellent performance features and high comfort level.

On the bottom-right quadrant, we placed Under Armour Hovr Phantom due to its strong performance features and reasonable level of comfort. Asics Gel-Kayano is also placed in the bottom-right quadrant due to its strong performance features and standard comfort level.

On the top-left quadrant, we placed New Balance 990v5 due to its high comfort level and reasonable performance level. Brooks Ghost 12 is also placed in the top-left quadrant due to its high comfort level and standard performance level.

In the bottom-left quadrant, we placed Reebok Forever Floatride Energy 2.0 due to its standard comfort and performance features. Skechers GO RUN Ride 7, Puma Ignite Flash evoKNIT and Mizuno Wave Rider 23 were also placed in this quadrant due to their average comfort and performance features.

Suggested Resources/Books:
1. Perceptual Mapping: Techniques, Applications, and Limitations (Marketing and Consumer Psychology Series) by Michael Breazeale
2. Marketing Research: Methodological Foundations by Dawn Iacobucci
3. Marketing Analytics: Strategic Models and Metrics by Stephan Sorger

Similar Asked Questions:
1. What is perceptual mapping and how is it used in marketing?
2. Can perceptual mapping provide accurate information about consumer perceptions?
3. What are the key variables that are typically used to segment competition in perceptual mapping?
4. How does attribute rating help with the labeling of dimensions in perceptual mapping?
5. What are some common software tools used in the process of perceptual mapping?

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