Market mapping

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What is market mapping?
a matrix which shows extremes for two measures that are important to the customer
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Give and example of two variables
quality, price
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Advantage 1
Allows a business to spot a gap in the market
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Advantage 2
Allows a business to identify its closest competitor and then plan the best marketing strategy to attract their customers
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Disadvantage 1
Can be simplified as it doesn't lake into account other factors such as the location of the business
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Disadvantage 2
Is based on opinion, and can therefore be biased and inaccurate
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Other cards in this set

Card 2

Front

Give and example of two variables

Back

quality, price

Card 3

Front

Advantage 1

Back

Preview of the front of card 3

Card 4

Front

Advantage 2

Back

Preview of the front of card 4

Card 5

Front

Disadvantage 1

Back

Preview of the front of card 5
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