Business and Competitive Analysis Methods by Fleisher Craig S. & Bensoussan Babette E

Author:Fleisher, Craig S. & Bensoussan, Babette E. [Bensoussan, Babette E.]
Language: eng
Format: epub
Publisher: Pearson Education (USA)
Published: 2007-02-27T06:00:00+00:00

Because positioning has an external locus of control (it is in the mind of the consumer), market research is a good way to obtain this information. Sometimes companies will conduct surveys or focus groups as a way of understanding customers' priorities and how well their product is performing in the areas that matter. Companies can also hire third-party market research firms to get unbiased feedback through surveys and data mining.

Figure 14.2 is an example of a perceptual map for laundry detergents available to customers in North America. In this example, a company would have determined on their own, or by purchasing research, that price and innovative product offerings, like special detergents for dark colors, high-efficiency washers, or organic stains, are important to the majority of purchasers. Then the company or researcher would determine how the product in question and those of the closest competitors are performing in meeting price and innovation expectations in the mind of the customer. In this example, Tide is perceived as more expensive than most competitors and most innovative as well. Persil products manufactured in Germany are the highest priced and are distributed in the U.S. by Miele, a high-end appliance company. For that reason, Persil targets a niche market of high-end customers and is not widely available.

Figure 14.2 Perceptual map of laundry detergents

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