The way to determine a product or service's current position in the marketplace compared to the competition is with a customer perceptual map. Most of your staff are not familiar with this concept, so you provide them with an example.
Choose a product or service and identify three companies who manufacture it. For example, you might choose peanut butter as the product you will study. Then identify three peanut butter manufacturers. Next create two questions about how the peanut butter product is positioned compared to its competitors, the other two brands of peanut butter. Ask six people your questions and plot their answers on your perceptual map. Analyze your results, draw conclusions (such as, do you think the product or service is competing head-on or is avoiding competition?), and if needed, make recommendations about the positioning of your chosen product.
Examples of customer perceptual maps may be found at: Perceptual Mapping.
A grid is available at: Perceptual Map Grid which may be used to create your map. There are two grids in this Excel file, each with different values. You may choose either file to fit the style of map you want to create.© BrainMass Inc. brainmass.com June 3, 2020, 7:49 pm ad1c9bdddf
Three companies that make peanut butter were chosen:
Unilever that makes Skippy peanut butter; The brand tested was Skippy Natural Peanut Spread.
J.M. Smucker Company that makes Smucker's peanut butter;
Con-Agra Grocery Products: This company makes Peter Pan peanut butter.
The two questions that were created were:
On a scale of one to four please rate how healthy is this peanut butter?
On a scale of one to four please rate how crunchy is this peanut butter?
The three brands of peanut butter were presented to six respondents.
The answers to the questions were plotted on the perceptual maps shown on the excel sheet.
The answers of the six respondents were then averaged and their results shown on the perceptual map at the end of the excel ...
This solution gives you a detailed discussion on current position in the marketplace