Identify the approach that develops perceptual maps based only on customer-based judgments of brand similarity.

Question

Quizplus · Accepted Answer

Multidimensional scaling (MDS) is the approach that develops perceptual maps based only on customer-based judgments of brand similarity. MDS is a statistical method that visualizes the relative positions of objects or brands in a multidimensional space based on their perceived similarities or dissimilarities. Cluster analysis and preference regression are different methods for analyzing data and do not specifically relate to developing perceptual maps based on brand similarity. Canonical correlation is a statistical technique used to analyze the relationship between two sets of variables.

Identify the Approach That Develops Perceptual Maps Based Only on Customer-Based