Visualizing Market Positions

Question 1

What’s the difference between the data inputs for preference and preference mapping?

Answer 1

1. Perceptual mapping uses survey data on perceptions of brands
2. Preference mapping uses survey data on Brand preferences

Question 2

What’s the marketing question for Market Position?

Answer 2

“how to assess our market position?”

Question 3

What’s the marketing question for Positioning?

Answer 3

“how to determine our bst market position?”

Question 4

What do you need to identify to understand the positioning?

Answer 4

1. Customer focused value proposition.
2. Competitive Frame of Reference
3. Points of Differentiation
4. Points of Parity

Question 5

Positioning Statement

Answer 5

For [target segment], the [product/concept] is [most important claim] because [single most important support].

Question 6

The 7 steps for positioning

Answer 6

1. Select target segment
2. Determine relevant competitive frame
3. determine potential points of parity and differentiation
4. select sample of customers in target segment. (can solicit ratings of competitors on selected dimensions and can solicity preferences across competitors)
5. Visualize the results
   (Market positions via perceptual Maps and Desired position via joint-Space Maps)
6. Develop positioning statement and associated strategy.

Question 7

On what scales can you collect ratings for perceptual attributes for brands?

Answer 7

1. Likert Scale

2. Coded on a numerical scale

Question 8

What are the two types of choice rules?

Answer 8

1. First choice rule

2. Share of preference rule

Question 9

What is first choice rule?

Answer 9

Consumer chooses the product s/he prefers the most

Question 10

What is the share of preference rule?

Answer 10

Consumer chooses each product in proportion to the relative preference for that product

Question 11

How do you determine marketshare at different market positions?

Answer 11

Dukes taught us to use ME/XL. It was part of the homework.

Question 12

How to assess brand’s position for each attribute?

Answer 12

Draw imaginary perpendicular line from location of brand onto the attribute and compare distances of the intersection from the origin. The longer the distance, the greater the association of the brand with that attribute.

Question 13

What shows a greater relevance of the attribute, a longer line or shorter line?

Answer 13

longer line

Question 14

How do you interpret the axis?

Answer 14

Look for attributes lines close to an axis.

Use these attributes to determine the meaning of the axis.