Identify a Product segment in the marketplace with many competitors like trucks or toothpaste. Then determine two measurable variables consumers use to differentiate between brands in that segment like price, quality image, performance and the like.
Assignment Purpose: Critical to Marketers is how their brands are perceived by potential buyers. And that perception can change as the market environment and competitors change. Marketers can also take steps to change the consumer perception of their brands. This Personal Assignment is intended to give you experience with making a ‘Perceptual Map’ that is simply graphic portrayal of market perception. They are very effective in demonstrating a brand’s ‘perception’ and ‘differentiation’ versus competitors in the eyes of the consumer.
Assignment: Review “Perceptual Mapping” discussed in Basic Marketing Chapter 4 and also read about ‘product positioning’ and ‘product differentiation’. Take a minute to clearly understand what the example ‘Perceptual Map’ in Exhibit 4-14 is telling you.
Then:
- Identify a Product segment in the marketplace with many competitors like trucks or toothpaste. Then determine two measurable variables consumers use to differentiate between brands in that segment like price, quality image, performance and the like.
- Make a Perceptual Map using those variables on the ‘X’ and ‘Y’ axes and plots at least 6 competitive brands from that same Product segment. Think about why consumers would place each competitor in its particular spot on the map.
- Create a 10-12 slide PowerPoint presentation with your map and competitor explanations.
- Cite at least three sources of information
Points will be awarded based on overall Content with respect to the assignment (6 points), Organization/Development of your slides with respect to flow and structure from introduction to conclusion (2 point) and Mechanics for professionalism in slide design, spelling and grammar, reference page.(2 points) Points will be deducted for short or late presentations.
