Team:4

Perceptual Mapping

The main discussion in today's class was about multi dimensional thinking, how well can things be compared and in how many possible attributes can one use to compare two or more things. It can be the distance between two things, similarity between two things, comparision of two products in business sense., e.t.c. This is all about one's perception and the way it is leading towards dimensional thinking. There was a good amount of learning.
We were introduced to a new software Permap(Perceptual Mapping).

Perceptual mapping is a diagrammatic technique used by marketers that attempts to visually display the perceptions of customers or potential customers. Typically the position of a product, product line, brand, or company is displayed relative to their competition.

Perceptual maps can have any number of dimensions but the most common is two dimensions.
Marketing research technique in which consumer's views about a product are traced or plotted (mapped) on a chart. Respondents are asked questions about their experience with the product in terms of its performance, packaging, price, size, etc. Theses qualitative answers are transferred to a chart (called a perceptual map) using a suitable scale (such as the Likert scale), and the results are employed in improving the product or in developing a new one

Source: http://www.businessdictionary.com/definition/perceptual-mapping.html#ixzz3DmkcgvDg