Market mapping
A market map defines
the distribution and value chain between supplier and final user, which
takes into account the various buying mechanisms found in a market,
including the part played by 'influencers'. (McDonald)
Market maps help focus attention on key decision makers within a market,
and identify key target market segments within a market segmentation
project. Market channels and the key players within channels can be easily
identified with the help of a graphic presentation of a market.
A market map can help deliver key customer and consumer insights, and
ensures full awareness of the the total market place.
Market maps
The drawing of
market maps for each business unit quickly and simply identifies
market channels and segments. Market value and volume data can be shown
and adjusted in the map; channels can be introduced, deleted or merged;
an overall view of the whole market or a subset can easily be shown
to aid the market segmentation process.
Market maps can be as simple or complex as the market requires. The Marketing
Process Company has developed its own tool for generating market maps and
uses the software in support of all market mapping projects.
