Abstract
Perceptual Mapping: "A perceptual map is a spatial representation in which competing alternatives are plotted in Euclidean space" (Lilien.G.Rangaswamy). Perceptual maps allow managers to summarize and visualize key elements of the market structure. They also depict the competitive structure of markets in a manner that facilitates differentiation and positioning strategies. Perceptual maps are most commonly used: to understand the market structure of product categories as perceived by customers; Select the set of competitors to compete against; Administer image studies to help position the organization; Represent customer perceptions and preferences in a manner that aids communication and discussion within the organization; Evaluate a new product concept in the context of existing brands in the market; and Develop a name for a new product. This process thus, allows mangers to take a broad view on the company's strengths and weaknesses in relation to other competitors in an industry. It also allows the marketer to view the product in the eyes of consumers, in relation to the competition within the marketplace. This enables the marketer to view both the customer and the competition at the same time and on the same map.
