To start with I decided to make Perceptual maps of food joints in and around our college which most of us frequently go and to find out what most of us perceived them on two parameters i.e. quality and price. I have limited the parameters to two in order to keep things simple but in future more parameters can be taken to analyze further the results we got from our initial responses. I have taken 5 food joints in and around our college and got response from students as what they rate them on Price and Quality to gauge what we called getting “Bang for our Buck” aspect of various joints. Survey was done on 15 students and parameters were rated on 1 (Low) and 5 (High) scale.
Attributes: 1- Price and 2- Quality
1) Price and quality even though should be on the same lines i.e. Quality should be consistent with the price, as quality should increases with price but the map shows that is not the case entirely.
2) Domino and Pizza-Hut is equi-distance from both the attributes i.e. Price and quality (both scores high on price and quality) but domino gives better quality even though it is equal in price as compared to pizza hut.
3) Punjabi Dhabba is last in quality even though its expensive than the Cafe-Fresh which is least expensive than all the food joints surveyed.
4) Hot Attack is mapped at centre point indicating that its give most quality vis-a-vis price.
Conclusion:
Even though it was a small exercise but its goes a long way to make us understand how we can use perceptual mapping to make our decision both at personal and business level.
We can undertake this exercise in depth including many more attributes and lot more people resulting into a comprehensive report which can be used to increase the business at the respective joints by filling in their particular deficiencies.
Submitted By
Aditya Hakim
12004
SIBM Bangalore
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