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Perceptual Map (Hafihz.Com)

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Many competitors? Wondering which areas to go to? Use a Perceptual Map to help you position your business strategically.

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Perceptual Map (Hafihz.Com)

  1. 1. Step 1 : Choose 2 of the most important qualities you think should be in the business you’re doing. (e.g. if it’s selling bananas at a store, I will choose Colour and Price.) TIP : You can also use the perceptual map to reposition your existing business. Using the same process, ask consumers about your business. It may not be where you think it is. Plot out where you actually had it intended to be. Concentrate your marketing on getting to that spot. Now, Position your business. For more, visit www.hafihz.com Deciding on which areas to go into? Do a PERCEPTUAL MAP . Step 2 : Put Colour on one axis, and Price in the other. The two ends of one axis represents the two extremes of the quality. Bright Yellow Dull Green Cheap Premium Step 3 : Plot where your competitors are. Ask what consumers think of these brands with respect to these two qualities. Bigger the circle, bigger the business. Step 4 : Pick a spot . If you choose to go somewhere where it’s already filled up, then those will be your direct competitors. If you choose somewhere empty but looks promising, you will need to focus on some branding too. Oh, and you’ll have competition coming at you later on.