Perceptual map report

  • Category:
    Business
  • Document type:
    Assignment
  • Level:
    Masters
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    2
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    1455

Perceptual map reportPERCEPTUAL MAPPING ANALYSIS REPORT

(Report 1200 words)

TABLE OF CONTENT.

  1. STRATEGY.

Objectives of the research.

Importance of the research.

Scope of the report.

2. METHODS AND ANALYSIS.

Address the research method used.

Selection of dimensions, explain why you have selected the brands in your survey.

3. DESCRIPTION OF ANALYSIS.

Provide description of analysis undertaken and a summary table on the mean values of the brand.

4. FINDINGS AND IMPLICATIONS.

Review combination of two dimensional maps, stating key findings.

Managerial implications that are relevant to advertising.

5. LIMITATIONS.

Address factors that affect the confidence that you have in your findings/implications.

6. REFERENCES.

LIST OF ALL CITED SOURCES (7)

  1. STRATEGY

Positioning strategy

Perceptual maps are used for determining an appropriate competitive strategy, designed to

Provide a concise summary of how consumers perceive the positioning of different brands within

Specified product category[ CITATION Ste90 l 1033 ]
The product category was on mobile phone handsets.

They are relatively easy to understand and interpret, therefore provision of a significant amount of information.

IMPORTANCE.

To know how consumers (target) perceive different brands on a product category.

To measure and track impact of advertising and marketing campaigns.

To identify the position of a brand in the market.

To monitor competitiveness within the product category overtime.

Provision of information help assist understanding different market segments.

Monitor changes in consumer’s tastes and preferences, other factors periodically.

  1. METHODS AND ANALYSIS.

The Marketing Research Process.[ CITATION Thy09 l 1033 ][ CITATION Yul06 l 1033 ]

Marketing research / survey projects involves a step by step guide involving 8 steps:

Step 1 define the problem,

Step 2 Determine goals and objectives

Step 3 Determine research method

Step 4 Identify data types and sources

Step 5 Create data collection forms and questionnaires

Step 6 Collect data

Step 7 Analyze and interpret the data.

Step 8 Write a report on research findings.

The objectives of this survey project is to create a perceptual map. Perceptual mapping is an analytical technique used by advertisers/marketing strategists to visually display the perceptions of consumers, identifying the position of a product brand within a product category displayed relative to their competition.[ CITATION Ste90 l 1033 ] Also known as market maps.

BENEFITS.

Perceptual mapping facilitates incite understanding of their consumers wants and needs to better their satisfaction. In case of less satisfaction, research need be conducted. Perceptual mapping also allows business to know what consumers think of their brand, with regards to their competitors.

Perceptual maps elaborate different market segments showing differentiation of brands within the market.[ CITATION Nao09 l 1033 ]

Also helps in identifying potential gaps in a market where an entity can introduce in its new products or services.[ CITATION Nao09 l 1033 ]

Perceptual maps can help predict or detect problems or impacts of visualized uncertainty.

This design helps advertising /marketing strategists better understand positioning off their brand. Choice of four mobile phone brands.

2. Samsung

3. Blackberry

Selection of dimensions.

Choice of mobile phones as a product category, and a focus on their attributes (i.e. features).

Considered selecting 3 dimensions

(1)Performance: including version of operating systems, processors speed, phone capacity, battery life and strength and warranty.

(2)Specifications: internet connections speed, visual camera specs e.g. no .of mega pixel, entertainment compatibility and phone memory.

(3)Style/design: style of brand, outlook, shape, size and color.

Study how consumers perceive features (i.e. performance, specifications and style/design.)

Conducted research inform of questionnaire, with a sample size of 5 adults who have used this products.3 male and 2 female (18-24 age range).A descriptive analysis was done and mean value identified as indicated below.

  1. FINDINGS AND IMPLICATIONS.

The main implication of market strategy is orientation towards meeting consumer needs. [ CITATION Geo07 l 1033 ]Implementation of market strategy increase profitability.

The marketing strategy focuses company attention on particular target market segments making it clear what product specifications are required for consumer satisfaction.

This eliminates marginal operation which provides less contribution for business growth and expansion. [ CITATION BAn16 l 1033 ]Once you have identified your target market and characteristics of your consumers through the survey project and market study, making brand image more positive to consumers.

On information of what consumers need/wants develop product features that meet their demands,[ CITATION Geo07 l 1033 ] develop designs promoting innovation and improve quality.

Strategic implications influenced by economic conditions affecting consumer behaviors’, re-look the consumer and develop new strategies for changing times. Finding greener pastures, good time to setup and explore new markets.[ CITATION Ste90 l 1033 ] Markets growing at a fast rate offering greater returns. Emphasize value, re-value your brand portfolio.

Communication, not only the product but also the message reflected on consumers mind is vital, reflecting the sentiments of care,[ CITATION BAn16 l 1033 ] protection, rational and considerable behavior, performance and value of targeted products.

Performance based on market strategy, which projects the increased demand based, on market studies .Planning for increased productions, while reducing costs by eliminating unwanted product attributes.

LIMITATIONS.

There are many limitations to perceptual mapping. The largest number of variables in use. Maps tend to use two or three variables and does account for other variables which contribute to the market share of brand. Meaning it is not right to that there are only two variable that affect the decision of purchases by consumers. In this case for example, the chart uses performance and specification attributes on the mobile phone brands but don’t take into account other relevant variables such as pricing and location on purchase.

Small number of segments, if chosen segment are too small, research may provide inappropriate turnover, in turn affecting the total margins and variability of the organizations.[ CITATION Hit16 l 1033 ]

Cost effectiveness, expenditure costs on target markets segment. If no capital is invested then your segmentation strategy is a failure. Different/many brands in a product category information on competitive segment is adverse. Other filled segments with higher costs and profit margins.

Another limitation is inaccurate information from consumer’s opinions. There might be a misunderstanding of what an entity can offer and what a consumer thinks can be offered by the entity.[ CITATION Hit16 l 1033 ].This could be misinformation, lack of knowledge, impact from information communication and [ CITATION Ste90 l 1033 ]technology (ICT).

Method perceptual mapping.

Mean values

Performance

Specification

Style/design

Review of perceptual map of mobile phone brands. Using a standard two determinant attribute perceptual map. Measure of 3 attributes in two-determinant attribute perceptual mapping.

1. Performance against specification.

2. Specifications against style.

3. Performance against style.

Analysis and Findings.

A1 (apple) and A2 (Samsung) are highly differentiating and possess a high rating on performance attribute, targeting rather a small group of consumers, these two brands are strong in relevance. Being in the market for quite some time has shown some improve in quality of product, whereas A3 (Sony) compared to blackberry being the least in comparison on performance against specification.

Blackberry need to build on higher brand esteem and knowledge. Blackberry and Sony can capitalize their investment in medium-low end market, where leaders i.e. apple and Samsung fall short, has divers potential for the brand to explore.

On performance against style and design, brand A1 statics show that series A1 point (4.4, 4.2) rating highest in quality performance and good design respectively.

Samsung series A2 point (3, 3) second on the chart indicating having a high favorable degrees among consumers compared to Sony (A3) which is lowest with a (2.8, 2.6) margin, where as Sony has no significant difference compared to blackberry at series.

Specification &design

In terms of overall brand design A1 (apple) is highest on scale 1-5 series “A1” point 4.4 (4.4, 4.2) rating highest amongst consumers suggesting fast internet speed of up to 10mbps/sec, with latest installation software of 4G internet speed.

High end resolution camera up to 16 megapixel, enhance entertainment compatibility. And sufficient storage memory. Second A2 (Samsung) series “A2” point 3.6(3.6, 3), consumers suggesting better specifications and low quality in design/Style of shape, size and color of phone.

Works Cited

B.Prass, B. a. (2016). European journal of marketing. Advertising Strategy implication of consumer evaluation process models, VOL 11,320-326.

Bhasin, H. (2016). Marketing mix of all brands. Limitation of market segmentation, 40-44.

Feldman, N. H. (2009). The influence of categories on perception. Explaining the perceptual magnet effect as optimal statistical inference, 752-782.

ff, G. (2007). The market segmentation study guide. Comprehensive review of market segmentation,target marketing positioning and perceptual maps., 12-13.

Kersten, Y. (2006). Vision as bayesian inference. Analysis by synthesis?Trends in cognitive Science, 301-308.

Steven A.Sinclair, E. C. (1990). PERCEPTUAL MAPPING A TOOL FOR INDUSTRIAL MARKETING:CASE STUDY. JOURNAL OF BUSINESS & INDUSTRIAL MARKETING. , 55-66.

Thyer N, H. (2009). Perception and Psychophysics. The perception magnet effect in Australian English vowels., 1-20.