How To Create A Perceptual Map In Excel

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How to in Excel
Why Know How
Common Use Cases
Sourcetable vs Excel
Frequently Asked Questions

Introduction

Perceptual maps are vital tools for marketers to visualize the position of products in a competitive landscape. Excel, with its spreadsheet functionality, is a common choice for creating these maps.

However, constructing a perceptual map in Excel requires complex functions and tedious manual steps that can be time-consuming and error-prone. This guide will demonstrate the necessary steps to create a perceptual map in Excel.

We'll also explore how Sourcetable, an AI-powered spreadsheet platform, lets you create perceptual maps instantly by simply chatting with an AI - try it out at https://app.sourcetable.com/ to transform any spreadsheet task into a conversation.

How to Create a Perceptual Map in Excel

To create a perceptual map in Excel, begin by plotting brands or products on a chart with two axes. These axes represent two different attributes that are relevant to the market analysis.

Choosing the Right Chart Style

For constructing perceptual maps in Excel, the bubble chart style is optimal. It allows for a clear visual representation of the brand positioning.

Utilizing Excel Perceptual Map Maker

A free Excel Perceptual Map maker can be downloaded from the Perceptual Maps 4 Marketing website. This tool simplifies the process of creating perceptual maps and is ideal for marketing students, analysts, and practitioners.

Steps for Creating Perceptual Map

The Perceptual Maps for Marketing Excel template is user-friendly and has been widely used since 2013. Download the free template, which is specifically designed to assist users in creating effective perceptual maps effortlessly.

Analyzing Brand Position

Perceptual maps serve as a valuable tool for analyzing a company's brand position within the market, providing insights into competitive landscapes.

Answer Any Spreadsheet Question

Use Sourcetable's AI chatbot to answer any spreadsheet question in seconds.

Key Use Cases for Perceptual Mapping in Excel

Competitive Analysis and Market Positioning	Create visual representations of how your products stack up against competitors in the marketplace. This allows you to see where your brand stands on key attributes like price, quality, or innovation relative to your competition.
Market Gap Identification	Analyze unfilled spaces in the market by visualizing where current products are positioned. This helps identify untapped opportunities and potential areas for new product development that can give you a competitive advantage.
Brand Perception Analysis	Understand how consumers view different brands within your category by mapping their perceptions across various attributes. This insight helps you understand your brand's strengths and weaknesses from the customer's perspective.
Marketing Campaign Impact Assessment	Track changes in product positioning before and after marketing initiatives. This allows you to measure the effectiveness of your campaigns and determine if they successfully shifted consumer perceptions in the desired direction.
Strategic Product Development	Map product features against consumer preferences to guide product development decisions. This visualization helps ensure new products or features align with what customers actually want and value.

Excel vs Sourcetable: A Modern Approach to Spreadsheets

While Excel remains the traditional spreadsheet tool requiring manual formula creation and data manipulation, Sourcetable revolutionizes spreadsheet work through AI-powered automation. Simply chat with Sourcetable's AI to create spreadsheets, analyze data, and generate visualizations instantly, without needing to learn complex functions or features. Try Sourcetable now to experience how AI can answer any spreadsheet question.

AI-Powered Analysis

Sourcetable eliminates the need to learn Excel formulas and features by letting you interact with an AI chatbot that handles all spreadsheet tasks. Simply describe what you want to achieve, and the AI creates the analysis for you.

Data Processing

Unlike Excel's size limitations, Sourcetable handles files of any size and connects directly to databases. Upload CSVs, XLSX files, or connect your database to perform comprehensive analysis through simple conversation with the AI.

Visualization Creation

Instead of manually creating charts in Excel, Sourcetable's AI automatically generates stunning visualizations based on your data and requirements. Simply describe the visualization you want, and the AI creates it instantly.

What type of Excel chart should I use to create a perceptual map?

You can use either Excel's bubble chart or scatterplot chart to create a perceptual map. These are the most commonly used chart types for two-axis perceptual maps.

What are the basic steps to create a perceptual map in Excel?

The basic steps are: 1) Create a new spreadsheet and set up columns for Brand and attributes (like Price, Quality, etc.), 2) Enter your data, 3) Insert a bubble or scatter chart, 4) Set the x-axis and y-axis labels, 5) Add data labels with brand names, and 6) Set the chart title.

What kind of data do I need for a perceptual map?

You need data that is on a consistent scale, typically gathered from customer image/perception surveys. The data should include brand names and their corresponding attributes like price, quality, size, or image ratings.

Conclusion

Creating perceptual maps in Excel requires multiple manual steps and complex data manipulation. The process can be time-consuming and prone to errors.

Modern spreadsheet tools offer simpler solutions. Sourcetable's AI chatbot lets you create perceptual maps instantly. You can generate, modify, and analyze perceptual maps through natural language commands.

Start creating professional perceptual maps faster with Sourcetable today.

How To Create A Perceptual Map In Excel

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Introduction