After understanding the basics of Perceptual Mapping in class I thought it would be wiser for me to search evaluate and understand some of the current trends and applications of the above subject in the current world. Going deeper into this I encountered a lot of interesting facts shared below and which I think would help us in understanding this analysis in a better manner.Below are some of the details of the limitations of using multivariate analysis in perceptual mapping.
Current Limitations
There are a lot of limitations in the usage of the multivariate analysis in perceptual mapping.There three types of limitations that must be placed on the relevant multivariate space that would discuss are:
Limits on the relevant set of variables that will be used to define the perceptual space
This is one of the most critical area for setting limitations.(except for those using the scaling methods based on overall product similarities).The major question we need to answer is what variables are to be used to orient the perceptual positioning of the various competitors. There is a nearly unlimited set of variables available. The selection of the relevant variable set determines the type of map that will be produced. That is, will the map be based on such things as
- Purchase Behavior
- Organizational Images
- Product usage behaviors
- Product attribute characteristics
- Brand images
- Consumer goals & consumer needs
- Convenience issues
- Combination of the above or other parameters
This seldom poses a serious problem because it tends to be self-defining in terms of users, or purchasers of the products, services, or firms in question. However, there are questions as to how familiar a respondent is with a product, or brand.
Limits on the relevant set of products, services, or firms
This is also a major issue. Although this is as critical an issue as the selection of the relevant variable set, it is still a serious one. A balance is required in this era of market fragmentation, and the rapid emergence of new product categories, and subcategories, brought on by an acceleration of differentiated products flooding the market place, the selection of the relevant competitive set of products or services is ever-changing.
Conclusion
There are still many issues and there is a huge further development opportunity with multivariate analysis we keep addressing these issues we believe this methodology will give us better and improved results.
Submitted By
Neetu Rathod
Roll No: - 12118
SIBM Bangalore
Ref:-http://www.sdr-consulting.com/article11.html
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