MDS is a statistical technique used to find the relationship between preferences, perceptions and various attributes and representing them on a visual grid called perpetual maps .
Multidimensional scaling is also used in B2B industries because the common complaint they got is market respondents tell them that there is a little difference between the product and suppliers . And in this case MDS is used. For example ,we may have five chemical companies and we want to find out in what way they are considered different . In the questionnaire aimed at buyers of chemicals. Each of the five companies would be paired with one another and respondents are asked , on a scale how similar they believe them to be on a variety of questions such as
Multidimensional scaling is also used in B2B industries because the common complaint they got is market respondents tell them that there is a little difference between the product and suppliers . And in this case MDS is used. For example ,we may have five chemical companies and we want to find out in what way they are considered different . In the questionnaire aimed at buyers of chemicals. Each of the five companies would be paired with one another and respondents are asked , on a scale how similar they believe them to be on a variety of questions such as
1.How similar is their quality?
2.How similar is their technical service?
3.How similar are their prices?
We then use a statistical program to map the companies and the factors that have been tested to see how different or similar they are. These perceptual maps are extremely useful in brand analysis for determining if there is a need to work on the positioning of a brand to make it more distinctive.
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