1.24 Market Mapping

A market map positions all of the products in a market against two of their features.

Possible features include:

  • Price (low to high)
  • Quality (low to high)
  • Gender (male to female)
  • Age (young to old)
  • Traditional – modern / trendy

BUT BE CAREFUL!!!

  • Just because there’s a gap doesn’t mean there’s demand
  • Market maps are subjective (based on opinion not fact)
  • Market mapping is therefore a useful starting point for market research

Here’s an example of a market map for the clothing industry in the UK. Where do you think the gaps are?

market mapping

A typical exam question on this subject might be:

Explain one benefit to a business of using a market map” (3 marks)

Try answering this and then click here to check your answer with the exam board’s mark scheme.