Question

This statement most accurately defines Perceptual Brand Mapping. Select one: a. None of these. b. The relative position of competing brands based on how those brands are rated by industry experts. c. The relative position of competing brands based on how those brands are peceived by consumers. d. The relative position of a company's brands based on pricing and cost.

Answer 1

Answer: c. The relative position of competing brands based on how those brands are perceived by consumers.

Explanation:

The perpetual brand mapping is a technical perception and positioning of a brand as influenced by its customers.

It is a very important tool in brand marketing because it helps brand manufacturers know their brand position in the market against other competitors.

Perpetual brand mapping is an important tool that captures relative perceptions of brands, products or ideas and their specific attributes as it relates to its consumers.

Benefits of perpetual brand mapping includes:

1. Track the market trend of a product

2. Gain insight to their competitors product

3. Identity any gap in the market

4. Helps to understand the thought and behaviours of consumers.

Answer 2

Option C; THE RELATIVE POSITION OF COMPETING BRANDS BASED ON HOW THOSE BRANDS ARE PERCEIVED BY CONSUMERS.

Step-by-step explanation:

Brand Positioning is a strategy that brands use to differentiate themselves from other brands and create the most unique impression in the minds of the consumers.

A perceptual map (also called as a positioning map), is a visual representation of how consumers perceive a brand.

Brand perceptual maps are valuable tools for visualizing consumers’ perceptions of a brand compared to how they perceive its competition.

It is the best qualitative method to understand how a brand is performing in the market, and what the consumers feel about it.

Therefore, the statement that most accurately defines perceptual brand mapping is THE RELATIVE POSITION OF COMPETING BRANDS BASED ON HOW THOSE BRANDS ARE PERCEIVED BY CONSUMERS.