A perceptual map can be used to identify a firm's product in terms of how closely it fits the "ideal" and where it fits in relationship to competitors.The map is based on perceptions of
A)intermediaries.
B)competitors.
C)consumers.
D)competitors, consumers, and the firm itself.
E)independent rating organizations such as Consumer Reports.

Question

Quizplus · Accepted Answer

A perceptual map is based on the perceptions of consumers. It is a visual representation of how consumers view products in the market. Therefore, the best choice is C - consumers. The other options (A, B, D, and E) are not entirely correct, as they do not capture the essential purpose of a perceptual map. While intermediaries and competitors may have some influence, the main goal of a perceptual map is to understand how consumers perceive products and where they fit in with competitors. Independent rating organizations may provide data to inform the creation of a perceptual map, but they are not the primary source of information.

A Perceptual Map Can Be Used to Identify a Firm's