How To Make A Positioning Map In Excel
Overview
Creating a positioning map in Excel can be a powerful way to visualize the competitive landscape of a market. By plotting products, companies, or brands on a two-axis grid, you can gain insights into how they compare against each other on key attributes.
This process involves gathering data, setting up the Excel spreadsheet, and using chart tools to create the map. While Excel is a common tool for this task, it can be complex and time-consuming to set up properly.
In the following sections, we'll walk through the steps to make a positioning map in Excel and highlight why Sourcetable offers a more streamlined and user-friendly alternative for creating these insightful visualizations.
Creating a Positioning Map in Excel
Understanding Perceptual Maps
Perceptual maps, also known as positioning maps, are visual tools used to depict consumer perceptions of a brand's image within a marketplace. They are essential in marketing for analyzing competitive positioning. By leveraging a two-axis format, these maps simplify complex data into a clear and impactful visual representation.
Choosing the Right Chart Type
To create a perceptual map in Excel, you can use bubble charts or scatterplot charts. These chart types are effective for displaying the relative positioning of brands based on two dimensions, such as quality and price.
Manual Formatting in Excel
Constructing a perceptual map requires manual formatting in Excel. This involves setting up the axes to reflect the variables you're comparing and formatting the data points to represent different brands or products accurately.
Utilizing Automated Tools
For users of Excel 365, the process of creating perceptual maps can be automated with tools like the free Excel Perceptual Map maker available on Perceptual Maps 4 Marketing. This tool simplifies the creation of perceptual maps, making it accessible to marketing students, analysts, and practitioners alike.
Finalizing the Positioning Map
After plotting the data on the chosen chart type and adjusting the formatting, your perceptual map is complete. It will serve as a powerful visual to inform strategic marketing decisions.
Common Use Cases
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Comparing product positioning of a company’s product line to identify market gaps
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Visualizing competitor product features to inform strategic planning
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Assessing consumer perceptions of various brands within a market segment
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Evaluating the effectiveness of a marketing campaign in changing product positioning
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Identifying opportunities for new product development by analyzing current market offerings
Excel vs Sourcetable: Key Differences
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