Click on the map to enlarge it. This is a relatively common marketing strategy for smaller brands. The complete opposite of looking for a gap in the market is to try and position very closely to a market leader. I have an eBook available in PDF that reviews these important topics for just $2.99. In the case of the example stated above, it’ll help the company determine how much to charge and how much calorie content to keep in its breakfast offering.
A useful framework for analysing market positioning is a “positioning map”.
A Perceptual Map in Market Positioning A perceptual map is used to show consumer perception of certain brands.
The map allows you to identify how competitors are positioned relative to you and to identify opportunities in the marketplace Market Economy Market economy is defined as a system where the production of goods and services are set according to the changing desires and abilities of the market .
A market positioning map is vital to determine the marketing strategy for a firm. Adopting a me-too positioning. Positioning maps show where existing products and services are positioned in the market so that the firm can decide where they would like to place (position) their product. This process is generally an effort meant to influence consumers’ perception of a certain product or brand relative to perception of competing products or brands.
A market (or positioning) map illustrates the range of “positions” that a product can take in a market based on two dimensions that are important to customers. Perceptual maps are designed to provide a visual summary of how consumers perceive the positioning of the different brand/product offerings in the market. Firms have two options they can either position their product so that it fills a gap in the market or if they would like to compete against their competitors they can position it where existing products have placed their product. Perceptual mapping is a technique that essentially visualizes the core marketing activity of segmentation, targeting and positioning (which is often referred to as the STP process). Product positioning maps help you achieve the same goal as road maps: to reach a desired location.
The brand positioning map helps the company decide the pricing and marketing strategies to be used to increase sales. Learn More about Segmentation, Target Marketing, Positioning and Perceptual Maps. In most cases, they are relatively simple to understand and interpret and, perhaps surprisingly, they are able to …
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