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Perceptual maps

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Running Head: PERCEPTUAL MAPS Perceptual Maps in APA Style by a. What would a perceptual map of your own industry (Aerospace) look like Where would you go to get data for your industry
Perceptual mapping is an important strategic management technique utilized by business organizations in order to understand the competition in their respective industry (Kotler 2001). One of the major strengths of perceptual mapping is its flexibility and usability in every sector.
In the case of the aerospace industry, perceptual mapping is an essential tool which shows how companies position themselves in terms of pricing and the level of service offered. It should be noted that before the deregulation of the airline industry, carriers have focused on the business and leisure travelers and offers services at a high price. During the past two decades, the aerospace sector witnessed the proliferation of no-frills airlines which provides transport services at lower cost. Currently, we see the co-existence of huge airlines catering to the upscale market by offering value-added services suited to the market with the aggressive smaller players emphasizing on no-frills product and lower prices. Thus, the perceptual map would have two axes-the vertical measuring the level of service while the horizontal one will denote the quality of service. In the first quadrant which carries players offering high quality service and product, we will put US Airways while no-frills carrier Southwest Airlines will be on the fourth quadrant.
The data which will be needed to put up the perceptual map will be from various sources including press releases which highlight the marketing strategy of the industry players, the annual report of the individual carriers, industry reports from research groups, and interviews from industry experts. The documents will allow the researcher to understand the dynamics of the airline industry as well as how the competitors differentiate their offerings from the other players. However, it is also important to realize that the perception of customers about different brands is also essential in generating a correct perceptual map.
b. What are some events will dictate that a perceptual map cannot be used
Because perceptual maps are graphed using two-axes, they can only be used in order to measure at most four attributes. For example, one can create a perceptual map on cars using attributes such as sporty, elegant, affordable and elegant. However, when considering five or more attributes which are used by companies to differentiate themselves from each other, perceptual maps become useless.
Perceptual maps are only essential in analyzing the perception of customers about the brands in the market but they lack the capacity of informing researchers about the preference of the market.
References
Kotler, P 2002, Marketing Management, Prentice Hall, New Jersey
Kotler, P. and Armstrong, G 2001, Principles of Marketing, Pearson Education, Inc., New Jersey

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EduPony. (2022) 'Perceptual maps'. 26 January.

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