BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A perceptual map is a great tool for this step. Perceptual maps create a picture of how different competitors are positioned in the market, based on the key criteria that strongly influence customer decisions.

Detailed explanation-2: -A perceptual map is a chart used to illustrate where a product or brand and its competitors are positioned according to consumer perception.

Detailed explanation-3: -A positioning map is a diagram that allows you to compare your product to the competition and identify opportunities for new products in the marketplace. A positioning map plots two key product benefits on horizontal and vertical axes of a graph. These product benefits are based on what is important to the consumer.

Detailed explanation-4: -Positioning refers to the ability to influence consumer perception of a brand or product. The objective of positioning in marketing is to establish the image or identity of a brand or product so that consumers perceive it in a certain way.