Editing Perceptual mapping (section)

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'''Perceptual mapping''' or '''market mapping''' is a [[diagram]]matic technique used by asset [[marketing|marketers]] that attempts to visually display the perceptions of customers or potential customers. The positioning of a brand is influenced by customer perceptions rather than by those of businesses. For example, a business may feel it sells upmarket products of high quality, but if customers view the products as low quality, it is their views which will influence sales. Typically the [[positioning (marketing)|position]] of a company's [[product (business)|product]], [[product line]], or [[brand]] is displayed relative to their competition.<ref name=":0">McCarthy, E. J., McGuiggan, I. R., Perreault, D. W., & Quester, G. P. (2007). ''Marketing: Creating and delivering value.'' Australia, Sydney: McGraw-Hill</ref> '''Perceptual maps''', also known as '''market maps''', usually have two dimensions but can be multi-dimensional or use multiple colours to add an extra variable. They can be used to identify gaps in the market and potential partners or merger targets as well as to clarify perceptual problems with a company's product. So, if a business wants to find out where its brand is positioned in the market, it might carry out market research. This will help them to find out how the customers sees their brand in relation to others in the market.