A perceptual map is:
A) a chart that maps changes in competitors,sales and profits in an industry over time.
B) a graphic display which positions products according to their scores on important strategic dimensions.
C) a chart that indicates the changes in the magic number of a business owner.
D) a graphic display which indicates the various stages of the lifecycle of a product.

Question

Quizplus · Accepted Answer

A perceptual map is a visual representation of how consumers perceive different brands or products based on important attributes or dimensions. It is often used in marketing to understand consumer preferences and to identify opportunities for differentiation and positioning of products or brands. Option A is incorrect as it describes a trend analysis chart. Option C is not relevant to the concept of perceptual maps. Option D describes a product lifecycle chart, which is also not related to perceptual maps.

A Perceptual Map Is