Part 2. MM4XL Tools > 1. Strategic Tools > Brand Mapping > Brand Mapping in a nutshell

Brand Mapping

Brand Mapping in a nutshell

Brand Mapping produces a picture of a given market. This picture, displayed as a map, shows which products compete in the consumer's mind. It is used to stimulate strategic reasoning of how a product could be positioned in order to maximize both preference and sales, but not only as we shall see.

Brand Mapping Software for Marketing Analysis and Segmentation

Brand Mapping is a tool customized for business analysis, it uses correspondence analysis, runs fast, shows a detailed output report, and its map is rich in information, clear, and easy to interpret. Many business professionals know that relationships between numbers are often far more interesting than the numbers themselves. These people will find Brand Mapping of great value.

According to Myers (1996, pg. 255):

Of the three approaches (author's note MDPREF, PCA, and CA), correspondence analysis is probably the most flexible and versatile, which would account for its great popularity in marketing research today. Products/services/brands can be positioned in terms of any type of data that might characterize it or its use, including attributes, demographics of most frequent users, attitudes of most frequent users, usage occasion, types of distribution outlets, types of promotion, price or pricing policy, and the like.

The ultimate goal of Brand Mapping is the visualization of the latent competitive structure, which characterizes each and every market. In this context, Brand Mapping stimulates strategic reasoning, means that interpreting the analysis in the light of the analyst's prior knowledge, reveals strategic patterns that others do not see.

We recommend careful reading of this Help document and we wish you a lot of fun and future success using Brand Mapping.

IMPORTANT

Strategic decision-makers interested in a deeper view of how to apply Brand Mapping tool to their business decisions should read the book Mapping Markets for Strategic Purposes with MM4XL software. Read more about this book...

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