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Course: GRAP 1033 - Studio 3 Technical Innovation
Notes taken from wikipedia and should not be treated as
Lecturer: Dr. Scott Mayson email@example.com
a 100% reliable source.
Project Document: Market Mapping
Please read and respond to the following. Complete a series of A3 posters that can be displayed with your concept drawings at next weeks pinup crit session.
Market Mapping Although there are diďŹ€erent definitions of Positioning, probably the most common is: "A product's position is how potential buyers see the product", and is expressed relative to the position of competitors. Positioning is a concept in marketing which was first popularised by Al Ries and Jack Trout in their best-seller book " Positioning - a battle for your mind". They iterate that any brand is valued by the perception it carries in the prospect or customer's mind. Each brand has thus to be 'Positioned' in a particular class or segment. For example, Mercedes is positioned as a luxury brand, and Volvo is positioned for safety.
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Perceptual mapping Perceptual mapping is a graphics technique used by asset marketers that attempts to visually display the perceptions of customers or potential customers. Typically the position of a product, product line, brand, or company is displayed relative to their competition. Perceptual maps can have any number of dimensions but the most common is two dimensions. Any more is a challenge to draw and confusing to interpret.
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Perceptual mapping In marketing and advertising, a target audience, or target group is the primary group of people that something, usually an advertising campaign, is aimed at appealing to. A target audience can be people of a certain age group, gender, marital status, etc. (ex: teenagers, females, single people, etc.) A certain combination, like men from twenty to thirty is often a target audience. Other groups, although not the main focus, may also be interested. Discovering the appropriate target market(s) to market a product or service to is one of the most important stages involved with market research. Without knowing the target audience, a company's advertising and the selling eďŹ€orts can become diďŹƒcult and very expensive.
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Generally, the product positioning process involves: 1. Defining the market in which the product or brand will compete (who the relevant buyers are) 2. Identifying the attributes (also called dimensions) that define the product 'space' 3. Collecting information from a sample of customers about their perceptions of each product on the relevant attributes 4. Determine each product's share of mind 5. Determine each product's current location in the product space
Mind share, or the development of consumer awareness or popularity, is one of the main objectives of advertising and promotion. When people think of examples of a product type or category, they usually think of a limited number of brand names. For example, a prospective buyer of a college education will have several thousand colleges to choose from. However, the evoked set, or set of schools considered, will probably be limited to about ten. Of these ten, the colleges that the buyer is most familiar with will receive the greatest attention.