Posted in Marketing and Strategy Terms, Total Reads: 228
Definition: Brand Mapping
Brand mapping is used to understand the positioning of a brand with respect to the attributes in any brand. In brand mapping a large number of attributes are shown on the axis and number of brands are rated on several of attributes i.e areas of interest of customers. This is very important to understand the various competitors in the market and recognise the closest competitors of any brand.
Correspondence analysis is used for Brand Mapping. This s done by placing brands and attributes both on a 2-dimensional map. On the map Brands are more close to attributes that they have or are closely linked. On the map attributes are plotted by vector lines and the distance from a brand is measured by plotting a perpendicular line from the vector on the brand.
For example:- The below diagram represents a brand map the lines are vector lines that represents attributes such as stylish, good price, safe and reliability and the dots represents the brands . Brand 3 is closest to the attribute of good price this means most people associate this brand with good price.
Brand maps are also used when companies want to rate their brands on only two attributes in this case the x and y axis are taken as attributes and the brands are placed according to the perception on those attributes. These maps are simple to understand as they rate the brands on only two attributes.