How To Create A Perceptual Map In Excel
Overview
Perceptual maps are vital tools for marketers to visualize the position of products in a competitive landscape. Excel, with its spreadsheet functionality, is a common choice for creating these maps.
However, constructing a perceptual map in Excel can be a complex process, involving multiple steps and a steep learning curve. This guide will demonstrate the necessary steps to create a perceptual map in Excel.
We will also explore why Sourcetable, an alternative to Excel, offers a more user-friendly approach for generating perceptual maps with ease.
How to Create a Perceptual Map in Excel
To create a perceptual map in Excel, begin by plotting brands or products on a chart with two axes. These axes represent two different attributes that are relevant to the market analysis.
Choosing the Right Chart Style
For constructing perceptual maps in Excel, the bubble chart style is optimal. It allows for a clear visual representation of the brand positioning.
Utilizing Excel Perceptual Map Maker
A free Excel Perceptual Map maker can be downloaded from the Perceptual Maps 4 Marketing website. This tool simplifies the process of creating perceptual maps and is ideal for marketing students, analysts, and practitioners.
Steps for Creating Perceptual Map
The Perceptual Maps for Marketing Excel template is user-friendly and has been widely used since 2013. Download the free template, which is specifically designed to assist users in creating effective perceptual maps effortlessly.
Analyzing Brand Position
Perceptual maps serve as a valuable tool for analyzing a company's brand position within the market, providing insights into competitive landscapes.
Common Use Cases
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Performing competitive analysis by visualizing the positioning of products in the market
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Identifying market gaps and opportunities for new product development
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Evaluating consumer perceptions of various brands within a category
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Assessing product positioning before and after marketing campaigns
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Comparing product features and consumer preferences to inform strategic decisions
Excel vs Sourcetable: Streamlining Data Management
Discover the power of Sourcetable in managing diverse data sources with ease, a feature where Excel falls short. Sourcetable simplifies data consolidation.
Experience Sourcetable's AI copilot, an innovative edge over Excel, for effortless formula creation and template generation, enhancing productivity.
Benefit from Sourcetable's intuitive chat interface for formula assistance, a unique offering absent in Excel's toolkit, for seamless data operations.
