Perceptual map is a marketing tool that is used to help place a brand in context of its competitors in terms of public perception of the brands with respect to critical industry variables (Daye, 2009). The two-dimensional nature of the map means that there are two dimensions (elements) that are evaluated. Consumer opinions about these variables and a variety of brands are taken in order to construct the map. The objective of the perceptual map is to understand how the brand's position in perceived by the public, and use this information to shape marketing strategy either to reinforce this perception or to change it.
Two major variables that people...
For car buyers, safety is an important issue because of the inherent dangers in driving and the need to minimize the risk to yourself and your family. Prestige is also a major consideration as well, since people like to buy the car that puts them in the best light. While there are some buyers who are strictly focused on functionality, most people prefer cars with styling that they find attractive. Using these two dimensions, four automobile companies were tested -- BMW, Honda, Ford and Mercedes-Benz. A survey was put forth to five people to rank these companies on a…
