MKT 100 Chapter Notes - Chapter 27: Root Mean Square, Sports Drink, Pop Cola Panthers

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Bonato

Document Summary

When developing a positioning strategy, fi rms go through fi ve important stages. Before you read about these stages though, examine exhibit 8. 9, a hypothetical perceptual map of the soft drink industry in the united states. A perceptual map displays, in two or more dimensions, the position of products or brands in the consumer"s mind. We have chosen two dimensions for illustrative purposes: strong versus light taste (vertical) and fun versus healthy (horizontal). Also, though this industry is quite complex, we have simplifi ed the diagram to include only a few players in the market. The position of each brand is denoted by a small circle, and the numbered asterisks denote consumers" ideal points where a particular market segment"s ideal product would lie on the map. To derive a perceptual map such as this, marketers follow fi ve steps: determine consumers" perceptions and evaluations of the product or service in relation to competitors".