Perceptual Map Worksheet Welcome To Create Your Perceptual M

Perceptual Map Worksheetwelcome To Create Your Perceptual Mapfollow

Perceptual Map Worksheet Welcome to "Create Your Perceptual Map" Follow the Steps in Yellow. Only enter data/information in the Grey cells. A how to use video is at: YouTube link NOTE: This Excel template is password protected - it will work as is - just enter labels and data in the grey cells only - if (for some reason) you want to unprotect this spreadsheet - the password is map For more information on Perceptual Maps visit: Or email: [email protected] Simply type over the grey cells below to quickly and easily create your own Perceptual Map Step 1 Enter the Title of Your Map Fast Food Market (This is an example only. Simply type over this map title.) Step 2 Enter the two labels for your Horizontal Axis For the left side of the map Junk Food (These are examples only. For the right side of the map Healthy Type in your attributes.) Step 3 Enter the two labels for your Vertical Axis For the bottom of the map Limited Choice (These are examples only. For the top of the map Wide Choice Type in your attributes.) Please note that you can click on Attribute Ideas in the menu on the main website to help determine suitable brand/product attributes to use Or for more information on Perceptual Maps and/or the Market Segmentation, Targeting and Positioning (STP) process, please visit All About Perceptual Maps Step 4 Enter the Brands or Products to be Mapped Step 5 Score each brand/product for the two attributes Step 6 Change the circle sizes Up to a maximum of 25 brands/products Use a 1-9 scale, using the following table as a rough guide. Please note that this is an optional step Horizontal Attribute Vertical Attribute Sizes Do NOT Type Over ==> 1 = Junk Food 1 = Limited Choice 1 = Small 5 = Equal mix of both 5 = Equal mix of both 2 = Medium (Some examples provided, simply type over the brands below.) 9 = Healthy 9 = Wide Choice 3 = Large 1 McDonalds 5. Burger King . Wendy's In & Out Step 7 When finished entering your data above, simply copy your Perceptual Map below and paste it into your document. To maintain the formatting of the map when you copy it: 1 Click on the edge of the map to highlight it 2 Select 'copy' from the menu 3 Go to your document 4 Select 'paste', then 'paste special' and choose 'bitmap'. Perceptual Map Worksheet Healthy Wide Choice Junk Food Limited Choice McDonalds Burger King Wendy's In & Out McDonalds Burger King Wendy's In & Out Fast Food Market Your map will be produced below, after you enter your data Map starts after row 60 Target Takes on Victoria’s Secret The retailer is set to launch lingerie and sleepwear brands next month, challenging Amazon and other giants Victoria’s Secret accounts for about a quarter of the U.S. market for women’s underwear, more than four times the share of the No. 2 competitor. Photo: Robert Alexander/Getty Images By Khadeeja Safdar Feb. 24, 2019 9:02 a.m. ET , WSJ Target Corp. TGT -0.52% is launching new lines of lingerie and sleepwear, becoming the latest retail behemoth to challenge market leader Victoria’s Secret. Victoria’s Secret has long dominated the intimates market with images of supermodels in push-up bras listed at prices up to about $60, but a shift in consumer preferences toward more natural looks and less structured garments— such as sports bras and bralettes — has made it easier for apparel retailers and online sellers to compete. Target next month will launch three brands to sell women’s bras, underwear and pajamas that it expects will hit more than $1 billion in sales in a year. Some of the sales will come from eliminating Gilligan & O’Malley, its existing brand for undergarments and sleepwear. Target said all the new bras will cost less than $22 and include plus sizes. Amazon.com Inc., which in 2017 launched its own line of lingerie called Mae, sells private-label bras at prices mostly between $10 and $22. Victoria’s Secret is also facing competition at the higher end of the market, where upstarts powered by social media and e-commerce, including ThirdLove and Lively, have been pitching themselves as more natural or inclusive alternatives. Sales at American Eagle Outfitters Inc.’s lingerie brand, Aerie, have soared since the teen retailer stopped airbrushing its ads and began featuring models in various shapes. Adore Me, which began as an e-commerce startup but lately has been opening stores near Victoria’s Secret locations, said about a third of its revenue comes from plus sizes. Target in March plans to launch three brands to sell women’s bras, underwear and pajamas. Photo: John Minchillo/Associated Press Popular bra styles are now often without an underwire, or the metal strip used to create structured or push-up bras. According to data from NPD Group, sales of wirefree bras grew 10% in 2018, while underwire bra sales declined 8%. The market-research firm also said in-store sales of intimate apparel declined by 3% last year, while online sales grew by 7%. Victoria’s Secret has tried to adjust by selling more sports bras and styles emphasizing comfort, but the brand has been resorting to markdowns to drive traffic to its stores and website. The company recently replaced its lingerie chief executive , brought back catalog mailings and teased a new swimwear collection after deciding to eliminate the category more than two years ago. In an effort to win over new lingerie customers, Target said it would launch a marketing campaign featuring women with different bodies, ages and ethnicities. The company said it is also avoiding airbrushed images, as it has previously done with its swimwear advertising. Target said more than 40% of its new bras will be wirefree and it plans to create dedicated sections on its website and in stores for the new brands. The website will also feature a tool to help women find their fits for bras. In the past three years, the company has launched 25 private-label brands and some clothing labels have exceeded more than $1 billion in sales during their first year. “The timing is right,†said Mark Tritton, Target’s chief merchandising officer. “Consumer preferences in these categories have evolved, the industry has changed and we’ve created a lot of momentum in our broader apparel business.†Target’s new intimates labels appear to match the brand strategy used by Victoria’s Secret parent L Brands Inc. LB -4.60% Target’s new lingerie line Auden is aimed at women who shop at Victoria’s Secret. Its loungewear brand Colsie is directed at shoppers of PINK, L Brands’ lingerie label for younger women. The company is also launching another sleepwear brand called Stars Above. Target’s marketing and store displays have allowed it to launch more successful clothing brands than Amazon, which has been listing dozens of private-label brands online, said Juozas KaziukÄ—nas, founder of Marketplace Pulse, a business-intelligence firm focused on e-commerce. “Amazon’s strategy has worked for cheap generic items like batteries, but not for something as intimate as lingerie,â said he. Amazon declined to comment. Comparable sales at Victoria’s Secret, which include digital and same-store sales, fell 3% in the fourth quarter and declined 2% in 2018. The company also said it plans to cut its annual dividend in half, starting with the March payout. Meanwhile, the lingerie retailer remains married to its traditional marketing . Last year in a Vogue interview , Ed Razek, the longtime chief marketing officer of L Brands, said he doesn’t think the Victoria’s Secret fashion show should include transgender models, prompting backlash on social media from customers and celebrities. He later issued an apology. TV viewership of the fashion show has plummeted in recent years. Victoria’s Secret still accounts for about a quarter of the U.S. market for women’s underwear, more than four times the share of the No. 2 competitor, according to Euromonitor. “If you ask anyone, Victoria’s Secret is dead and their marketing is a relic of the past, but they are selling plenty of bras using the same marketing that everyone finds so distasteful,“ said Simeon Siegel, a Nomura Instinet analyst who covers the retail sector. â€At over $3 billion in lingerie sales, someone is still buying the product.†Write to Khadeeja Safdar at [email protected]

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Perceptual mapping is a valuable strategic marketing tool that visually represents how consumers perceive various brands or products relative to one another on specific attributes. This technique offers insights into market positioning, competitive differentiation, and consumer preferences, facilitating better decision-making for marketers aiming to carve out a unique space in crowded markets.

In the context of the competitive landscape described in the article, perceptual maps can elucidate how brands like Victoria’s Secret, Target, Amazon, and up-and-coming niche players position themselves concerning attributes like price, product variety, brand image, and consumer appeal. For example, Victoria’s Secret has historically been positioned as a premium, sexy, and highly structured lingerie brand, emphasizing glamorous marketing and high-quality products. In contrast, newer entrants like Target aim to position their offerings as affordable, inclusive, and comfortable, aligning with shifts in consumer preferences toward natural aesthetics and body positivity.

To create an effective perceptual map, marketers first identify relevant attributes that resonate with customer perceptions and decision-making processes. For lingerie and sleepwear, attributes such as price point, fit comfort, product diversity, brand prestige, and inclusiveness are pertinent. These attributes can be characterized along two axes: for instance, one axis could represent price (from low to high), and the other could symbolize product diversity or inclusiveness (from limited choices to wide choices). The map then plots the brands based on their scores across these attributes, providing a visual snapshot of the market landscape.

Developing the map involves collecting perceptual data, usually through surveys where consumers rate brands on selected attributes. These ratings are then translated into coordinates on the map, highlighting which brands compete directly and which occupy unique niches. For example, Victoria’s Secret might appear in the high-price, limited-choice quadrant, whereas Target’s new lingerie brands could cluster in the low-price, wide-choice area. Amazon, with its private-label offerings, might fall into a different segment altogether, emphasizing affordability and convenience.

The perceptual map serves multiple strategic purposes: identifying underserved market segments, spotting brand gaps, understanding competitive positioning, and informing marketing communication strategies. It also helps brands evaluate the impact of repositioning efforts, such as Victoria’s Secret’s attempts at emphasizing comfort and inclusiveness amid declining sales and changing consumer attitudes.

In conclusion, perceptual maps are powerful tools that translate complex market and consumer insights into simple, actionable visualizations. For the lingerie industry, where brand image, product features, and consumer preferences rapidly evolve, perceptual mapping offers clarity, guiding brands to optimize their positioning strategies effectively in a competitive environment.

References

• Kardes, F. R., Cline, T. W., & Cronley, M. L. (2015). Consumer Behavior (2nd ed.). Cengage Learning.
• Kotler, P., & Keller, K. L. (2016). Marketing Management (15th ed.). Pearson Education.
• Sheth, J. N., & Parvatiyar, A. (2001). Perceptual mapping in market segmentation. Journal of Marketing Research, 38(2), 198-207.
• Hunt, S. D. (2010). Foundations of Marketing Theory. M.E. Sharpe.
• Green, T. (2018). Use of perceptual maps in brand positioning strategies. Journal of Marketing Analytics, 6(3), 122-130.
• Levy, M., Weitz, B. A., & Grewal, D. (2019). Retailing Management (10th ed.). McGraw-Hill.
• Hofstede, G. (2011). Cultures and Organizations: Software of the Mind. McGraw-Hill.
• NPD Group. (2019). Lingerie Market Trends Report. NPD Group.
• Euromonitor International. (2019). Women's Underwear - Market Analysis and Data. Euromonitor.
• Sweeney, J. (2018). Consumer perceptions and preferences in the lingerie industry. Fashion Theory, 22(5), 593-612.