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Perceptual maps are a useful strategic tool for managers, allowing them to easily visualize many facets of a given market in a single snapshot. While there are numerous types of perceptual maps, M/A/R/C Research believes the Market Bi-plot Map best represents the overall dynamics of a given market, doing so through multi-dimensional data shown in a two-dimensional market space. A Market Bi-plot Map provides the greatest degree of insight to help mangers move brands forward.

In a Market Bi-plot map, useful information is shown regarding both brands and attributes. Brands are shown as points and attributes are shown as vectors. The attribute vectors in a Bi-plot map are concerned with the direction in which each vector points, while the brand points are concerned with each brand’s relative position to other brands and each brand’s perpendicular positioning “out” on each vector. For a detailed explanation on how to interpret Bi-plot maps click on the video to the right.

Although brands are initially mentioned as one component of the map, points on Market Bi-plot maps are flexible and can also represent product types, segments, or other entities.

A Market Bi-plot map reveals four things that are critical to the brand manager’s understanding of the market.

4) The relative importance of each attribute.

Understanding brand performance, brand similarity, attribute similarity, and attribute importance is only the first step in leveraging the power of a Bi-plot map. Market Bi-plot maps also are useful in providing solutions related to:

		Brand positioning versus the competition
		Co-branding
		Re-branding
		Line extensions
		Identifying white space and unmet needs
		Segment-specific messaging

With the power of a Market Bi-plot map and experienced consultants, M/A/R/C can help identify and provide solutions to help move your brand to the next level.

For a proposal featuring a Market Bi-Plot Map solution, please at 800.884.MARC (6272).