What are perceptual maps?
Brand perceptual maps are also referred to as positioning or marketing maps. They are visual representations of how consumers perceive your brand. Moreover, how competitors are positioned in relation to your business. They usually appear in the form of a two-dimensional chart with horizontal and vertical axes.
These axes represent different attributes on a scale. The specific attributes are essential to the target audience. Furthermore, they are used to identify market gaps that might be exploited. Price, quality, performance, packaging, size, features, reliability, etc. These are some of the attributes perceptual maps consist of.
There are multiple benefits of perceptual mapping. These maps help organizations to understand the thoughts and behaviors of consumers. They also help them gain insight into their competition and track market trends. That way the companies can create a unique brand identity. Using this powerful visual tool, you can determine a brand’s current and desired position. Furthermore, you can predict a brand’s marketplace performance and track marketing strategy.
To gain meaningful insights into your market positioning, try multiple mappings. For example, create one for your brand and the other for the marketplace. Accordingly, use different sets of attributes that are important to your target audience. This way you will be provided with important information. For example- the ones that evaluate your brand, competitors, and the marketplace.
Next, gather the insights from your competitive analysis. Afterward, create a perceptual map that shows you where your brand stands relative to competitors. For a start, apply price and quality in your brand perceptual map. In addition, focus on the primary consumer needs or service benefits along the way. That way you can understand and track every parameter, which will vary depending on the market.
Make your position map
Make your own position map by following these steps:
- Draw a horizontal line, the X-axis across the middle of a document.
Then draw a vertical line, the Y-axis, halfway across the horizontal line. That way you will have a box divided into quadrants.
- Think of two attributes important to your customers. If one of the attributes is “Reliability” name your horizontal axis as “Reliable”. The left side of the horizontal line stands for unreliable. Accordingly, the right side will stand for reliable.
- The second attribute important to your customers might be ‘’Safety’’. Therefore, the bottom of your vertical line should represent low safety. Consequently, the top of your vertical line will represent high safety.
- Draw a circle to depict each of your competitors. Place it where you think they stand in the minds of the customers.
- Match the relative size of the circle to the brand’s market share. The bigger the circle, the greater the share of the market.
- Finally, put your own brand, company, or service where you think it belongs on the graph.
Include the size of the circle to represent your market share relative to the competitors.
Perceptual maps are a great part of your brand development. Hence, consider brand mapping as you explore market insights. Include it when communicating brand direction to ensure alignment of your brand strategies. Work through your company values to set a strong foundation for your branding. Afterward, strive to achieve desired goals for your business.