Do you want to know where to position a new product/service in the market? You can now, with a position map. Read this blog post to find out why you must use a perceptual map.
Perceptual maps are a popular choice when it comes to developing a market positioning strategy for a product/service. A perceptual map is a market research technique, which is used to trace or plot a consumer’s views on a product. Since the maps are based on the perception of the buyer, they are known as perceptual maps.
These maps can show you how existing products/services are positioned in the market, so that your firm can decide where a product can be placed. You can position a product to fill a gap in the market or position it where competitors have placed their product.