Market mapping - or not market mapping?
Recommend on Google+
You sometimes come across an example of how a business term or concept can be called something else - and then that term develops its own, erroneous credibility. “Market mapping” seems to be a good case in point…
The new Edexcel AS Business Unit 1 specification (Developing New Business Ideas) includes market mapping in the context of positioning the business idea. The teacher guidance suggests:
“Students could identify the competition in the market and use a market map to position their business idea against it.”
A student unit guide provides further guidance on what is intended by “market mapping”:
“Market mapping consists of identifying key variables about a product, plotting where existing brands or suppliers are in terms of combining the variables, then identifying any gaps in the market”.
So is this market mapping? The answer is no. Market mapping is something quite different.
What is being described by the Edexcel Unit 1 Spec is “brand positioning” or “perceptual” mapping. This is a common analytical tool used by marketers which uses a bi-polar diagram to illustrate the position of a product, product line, brand, or business, usually displayed relative to their competition.
So what, then is market mapping?
Market mapping is a very clearly defined concept in marketing. A market map defines the “distribution and value-added chain between final users and suppliers, which takes into account the various buying mechanisms found in a market” [MacDonald 2007]
So market mapping is about identifying where decisions are made and about competing products and services in a market - i.e. the transaction stages. It is the fundamental starting point for market segmentation. It is NOT about how products are positioned in a market.
So where does that leave centres preparing students for Edexcel Unit 1?
The pragmatic answer is that they should accept the specification error and carry on regardless. Teach the marketing map as it is described in the spec and textbooks - even though it isn’t market mapping. It is the concept of product or brand positioning which is the most important, even if the term has the wrong meaning.
The brave amongst you might decide to use the term positioning maps, or perceptual mapping - which are correct. But, I couldn’t possibly comment!
blog comments powered by Disqus
BUSINESS TEACHER RESOURCE NEWSLETTER
Get first news of business teaching resources, ideas and other materials from tutor2u. Over 9,400 business teachers from the UK and around the world receive our regular teacher email newsletters. Sign up for free here!
Popular Topic Tags
recession, demand, prices, price, unemployment, profit, economics, costs, investment, inflation, supply, employment, trade, competition, gdp, risk, china, debt, euro, entrepreneur, capacity, production, innovation, downturn, tutor2u, revision, pay, exports, manufacturing, confidence, profits, food, incentives, banks, strategy, globalisation, aqa, expectations, oil, csr, usa, startup, retailers, housing, productivity, sterling, supermarkets, takeover, google, economies of scale, mortgage, cash flow, advertising, quiz, leadership, property, buss4, tesco, economic growth, video, efficiency, enterprise, motivation, stakeholders, apple, deflation, corporate social responsibility, ebea, market share, airlines, pricing, taxation, merger, slowdown, bank of england, acquisition, interest rates, market failure, borrowing, competitiveness, sustainability, product life cycle, credit crunch, budget deficit, aqa business studies, facebook, twitter, aqa business, bbc, nelson thornes, philip allan updates, starbucks, philip allan, monopoly, diversification, recruitment, organic growth, stocks, training, oligopoly, starter activity, shareholders, uk economy, poverty, emerging markets, dollar, government failure, retailing, management, suppliers, buss1, marketing mix, tim harford, cpi, branding, opportunity cost, breakeven, government spending, hodder education, vat, product, customer service, eu, losses, wages, evaluation, india, external growth, wealth, environment, edexcel, location, promotion, technology, information failure, business studies revision, sources of finance, franchise, aqa gce business, elasticity, regulation, spare capacity, welfare, jobs, economic cycle, marketing, zondle, strategic direction, british airways,View all tags for the Business Blog
