Perceptual Mapping

Perceptual mapping is a visual tool used to understand how people view different brands or products based on specific characteristics, like price and quality. Imagine a two-dimensional graph where each point represents a brand. The position of each brand shows how consumers perceive it in relation to others. This helps businesses identify gaps in the market, understand competition, and tailor their marketing strategies. By visualizing perceptions, companies can better align their offerings with customer expectations and improve their market positioning.