3.3a Market Mapping

Question 1

What does market mapping do?

Answer 1

Illustrates the range of positions that a product can take in a market based on two factors that are important to customers.

Question 2

Advantages of market mapping

Answer 2

• Helps to spot gaps in the market
• Useful for analysing competitors
• Encourages market research

Question 3

Disadvantages of market mapping

Answer 3

• Simplify too much - doesn’t take into account other factors such as location
• Just because there is a gap doesn’t mean there is a demand
• Market research may not be 100% reliable