Perceptual map refers to
A)a framework used to compare one firm's product offerings with another firm's offerings in relationship to their relative market share.
B)a framework used to demonstrate the growth or decline of specific market segments within an organization.
C)a means of displaying or graphing in two dimensions the location of products or brands in the minds of consumers to enable a manager to see how consumers perceive competing products or brands, as well as its own product or brand.
D)a framework to relate the market segments of potential buyers to products offered or potential marketing actions by an organization.
E)a product differentiation table that allows a firm to identify specific product features and their corresponding market share.

Question

Quizplus · Accepted Answer

Perceptual map refers to a graphical representation of how consumers perceive competing products or brands, or even an organization's own products or brands, in relation to each other on two or more dimensions. It helps managers to understand and visualize the competitive landscape and make informed strategic decisions based on consumer perceptions. Option A, B, D, and E do not accurately describe the concept of perceptual maps.

Perceptual Map Refers to