Market mapping 4.0 / 5 based on 1 rating ? Business StudiesMarketing and competitive environmentsASAll boards Created by: hamishcCreated on: 04-04-16 22:22 What is market mapping? a matrix which shows extremes for two measures that are important to the customer 1 of 6 Give and example of two variables quality, price 2 of 6 Advantage 1 Allows a business to spot a gap in the market 3 of 6 Advantage 2 Allows a business to identify its closest competitor and then plan the best marketing strategy to attract their customers 4 of 6 Disadvantage 1 Can be simplified as it doesn't lake into account other factors such as the location of the business 5 of 6 Disadvantage 2 Is based on opinion, and can therefore be biased and inaccurate 6 of 6
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