In today's class we learnt what is multi-dimensional scaling and how to use the Permap software to represent a brand's perception of each of the team members on a map. The proximity of two brands show that they are similar and vice-versa. We can also represent two brands' perception in a binary form by taking two opposite axes. (eg: we took Like vs Dislike in the case of beverages).
Multidimensional Scaling:
The purpose of multidimensional scaling (MDS) is to provide a visual
representation of the pattern of proximities (i.e., similarities or distances)
among a set of objects. For example, given a matrix of perceived similarities
between various brands of beverages, MDS plots the brands on a map such that
those brands that are perceived to be very similar to each other are placed
near each other on the map, and those brands that are perceived to be very
different from each other are placed far away from each other on the map.
Perceptual Mapping:
Perceptual maps are often used in brand research to represent consumers’
perceptions of brands or products on two or more dimensions represented by X-
and Y-axes, each with ends that have opposite meaning (e.g. bitter vs. sweet,
cheap vs. expensive). Each brand has a position in the perceptual map space
that reflects their relative similarity or preference to other brands with
regards to the dimensions of the perceptual map. With the help of
perceptual maps we can transform consumer judgments of similarity or preference
into distances represented in a multidimensional space.
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