Market mapping

• what is market mapping?


  the process of analysing competition in a market by using two key variables that consumers may consider and plotting it on a diagram
• what does each axis represent?


  two polar opposite feature, such as, quality vs price
• what is this?

  market map

  
• what can market maps show?


  a gap in the market or information about competitiors
• benefits of market mapping?

  • identify gaps in the market
  • improved branding
• limitations of market mapping?

  • may not be any demand
  • further market research may need to be conducted
  • very simple