Don't miss

Pros and Cons of Market Mapping


Market mapping is a method of market analysis that allows you to plot your position in the market next to that of your competitors. It is based on two variables of your choice on the x and y axis.


Advantages 
  • Clearly displayed.
  • Shows whole market.
  • y & x axis are adaptable.
  • Easy to understand.
  • See how competitors are doing in contrast to you.
  • Simple and visual.
  • Quick and easy analysis.
Disadvantages
  • Not accurate/specific.
  • Can be based on opinion.
  • can be biased.
  • No actual figures/stats.
  • No time basis.
  • Only based on two variables.
  • Easy to mis-interpret/get wrong.

About Will Green

A student in England studying Automotive Engineering with Motorsport, Will created Ask Will Online back in 2010 to help students revise and bloggers make money. You can follow AskWillOnline via @AskWillOnline.

4 comments so far: