Need marketing help with the importance of a Perceptual Map

timer Asked: Nov 8th, 2015
account_balance_wallet $5

Question Description

Assess the importance of a Perceptual Map for current and potential product offerings in the marketplace

Tutor Answer

Philosopher Leni
School: Purdue University

Thank you for the opportunity to help you with your question!

most businesses use a perceptual map to have them have an understanding of what the customers think of their brands and those of their  competitors,this shows them how they are competing with their competitors in the market.

it is usually a   two-dimensional graph with a vertical axis and a horizontal axis .Each axis has a pair of opposite attributes at each end of the axis.

it helps a business a business identify new potential products,create an effective competitive strategy for the business,improve on communication and brand strategy with the aim of the business beating its competitors in the market.

Please let me know if you need any clarification. I'm always happy to answer your questions.

flag Report DMCA

Excellent job

Brown University

1271 Tutors

California Institute of Technology

2131 Tutors

Carnegie Mellon University

982 Tutors

Columbia University

1256 Tutors

Dartmouth University

2113 Tutors

Emory University

2279 Tutors

Harvard University

599 Tutors

Massachusetts Institute of Technology

2319 Tutors

New York University

1645 Tutors

Notre Dam University

1911 Tutors

Oklahoma University

2122 Tutors

Pennsylvania State University

932 Tutors

Princeton University

1211 Tutors

Stanford University

983 Tutors

University of California

1282 Tutors

Oxford University

123 Tutors

Yale University

2325 Tutors