Market Mapping / Market Positioning Map | Marketing

What is market mapping and what is a market positioning map? Watch this video to find out!

VIDEO CHAPTERS
00:00 Introduction
00:14 What is a market map?
00:39 Common dimensions for a map
01:22 Worked example
04:47 Advantages & disadvantages of using a market map

VIDEO SUMMARY
A market positioning map (or "market map") is a tool used to visualise how different brands or businesses position themselves in the market.

It uses two dimensions to judge where each brand fits. These dimensions can be anything relevant to the market, but the most common choices are price and perceived quality.

The video uses the health and fitness club market as an example. Here’s how the video creates a market positioning map for this specific market:

The horizontal axis shows price, ranging from low price on the left to high price on the right.
The vertical axis shows the range of services offered, with a broad range at the top and a narrow range at the bottom.

Based on these two dimensions, the video places several companies on the map:

Virgin Active and David Lloyd are positioned at the top right corner, offering a wide range of premium services for a high price.
Nuffield Health is placed on the top left, because it offers a broad range of services at a lower price than Virgin Active and David Lloyd.
Duncan Bannatyne's Health Club and Spa is positioned in the middle range of both price and the range of services offered.
Fitness First is placed at the top right quadrant, but the video argues that this position might not be sustainable because it offers a relatively narrow range of services for a relatively high price.
Pure Gym and The Gym Group are positioned at the bottom right because they offer a very narrow range of services for a very low price.

The video concludes that market positioning maps can be useful for identifying gaps in the market and for competitor analysis, but it’s important to remember that they are based on judgment and may not always be accurate.


#alevelbusiness #businessrevision #aqabusiness #edexcelbusiness #businessalevel