market mapping Flashcards
1
Q
Definition of market mapping
A
Market mapping is a diagram which identifies the products in the market and maps them against two of their main feature.
2
Q
Disadvantages of market mapping
A
Too simplified, just because there is a gap in the market map diagram, does not guarantee there is demand for that product.
3
Q
Advantage of market mapping
A
It allows the business to identify its competitors and the products in a simple and easy to read way.
4
Q
Difference between market segmentation and market mapping.
A
Market segmentation is products dividing into a sub-group and market mapping is a diagram which identifies the products in the market and maps them against two of their main features.
