Market mapping Flashcards
1
Q
What does market mapping help in?
A
Helps businesses to position their products by identifying gaps in the market
2
Q
What is a market map?
A
A diagram used to compare and position products in a market.
3
Q
What are the common two variables a market map will compare in their business?
A
Low/high price
Low/high quality
4
Q
What are some limitations to market mapping?
A
Opinion based, less accurate
Simplistic
Difficult to identify appropriate variables
