A perceptual map (P-map) is a tool used to illustrate the consumer’s perceptions of a product/ brand. A perceptual map is a tool for determining the position of a brand in the marketplace, based on consumer perceptions of the brand and its competitors, using attributes that are important to consumers. The various attributes can be: […]
Marketing & Sales
What is Positioning in Marketing?
In Marketing, Positioning is a concept that outlines how a business should market its products/services to customers. In positioning, the marketing team creates an image for the product, for its intended audience. The positioning process Positioning is the act of designing the company’s offering and image so that they occupy a meaningful and distinct competitive […]
Market Targeting Process in Marketing
Target marketing involves selecting the appropriate target market/s from the entire market and effectively marketing to them. It is a common practice in marketing to divide the market into various smaller homogeneous segments and then target the more lucrative ones which are likely to be receptive to the products in order to generate more sales. […]
What is Segmentation in Marketing?
Market segmentation refers to the division of a market into different groups of customers with distinctly similar needs and product/service requirements. The variables used for segmentation include geographic, demographic, behavioural and psychographics. Let’s understand more about Market segmentation using definitions, explanations, and examples. Related: STP process in Marketing What is Market Segmentation? Market segmentation is […]
