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Perceptual maps and multidimensional scaling - Perceptual maps

Q: What are the 3 ways to create a perceptual map?

Make it up - no credibility, yet used frequently. Use simple data Use multidimensional scaling

Q: What is the meaning of the 4 quadrants of the simple perceptual plot?

Upper right : strengths and attributes that are important to customers - maintain those strengths. Upper left : attributes that are also important to customers , but for which the brand doesn't succeed as well - priorities to be fixed . Lower left : attributes that the customers don't care about and the company doesn't perform well in - no concern . Lower right : attributes that the customers don't care about but the brand does excel in - consider if you are devoting too many resources into it .

Q: What are perceptual maps helpful for?

To understand brand similarities and differences . They represent a market structure and show spaces where there is too much or too little/no competition .

Q: What is the potential shortcoming of these simple perceptual maps?

That it depends on the selected attributes . If customers cared more about different attributes than those included in the survey, we would not know.

Q: What is the difference between simple and multidimensional scaling for perception mapping?

That with MDS , customers are asked ' How similar are brands X and Y? ' and they can compare on whatever attributes they find most important .

5 important questions on Perceptual maps and multidimensional scaling - Perceptual maps

What are the 3 ways to create a perceptual map?

Make it up - no credibility, yet used frequently.
Use simple data
Use multidimensional scaling

What is the meaning of the 4 quadrants of the simple perceptual plot?

Upper right: strengths and attributes that are important to customers - maintain those strengths.
Upper left: attributes that are also important to customers, but for which the brand doesn't succeed as well - priorities to be fixed.
Lower left: attributes that the customers don't care about and the company doesn't perform well in - no concern.
Lower right: attributes that the customers don't care about but the brand does excel in - consider if you are devoting too many resources into it.

What are perceptual maps helpful for?

To understand brand similarities and differences. They represent a market structure and show spaces where there is too much or too little/no competition.

What is the potential shortcoming of these simple perceptual maps?

That it depends on the selected attributes. If customers cared more about different attributes than those included in the survey, we would not know.

What is the difference between simple and multidimensional scaling for perception mapping?

That with MDS, customers are asked "How similar are brands X and Y?" and they can compare on whatever attributes they find most important.

The question on the page originate from the summary of the following study material:

Marketing Models | 9781133588108

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