A market map is a diagrammatic technique that enables businesses to display the perceptions of customers.
Compares variables regarding products and consumers.
Analyse consumer buying habits and preferences.
Compare price of a good with the quality.
Used to identify what segment of the market of the market is underprovided for and look at producing a product to fill that gap.
Typically, products are compared between all competitors within a market.
Gives a firm real insight into the competition within the same market as its own product.
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