Why Are "Perceptual Maps" Used

question 108

Multiple Choice

Why are "perceptual maps" used?

• A)To assess how a consumer processes information
• B)To assess positioning strategies within retail stores
• C)To assess creative adverts
• D)To assess strategic moves for a brand

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Definitions:

Goods

Tangible items that satisfy human wants or needs, and that can be transferred from one person to another.

Income

The income earned, particularly consistently, from employment or investment returns.

Ordinal Utility

A concept in economics that describes how consumers rank different bundles of goods, reflecting preferences in terms of order rather than quantifiable satisfaction.

Cardinal Utility

A concept in economics that assumes utility can be measured in absolute numbers, allowing for quantifiable comparisons between satisfaction levels.