Perceptual Mapping

What do you understand by perceptual mapping?

Perceptual mapping is a graphical representation of views of a consumer for a particular product or service. Generally, this graph contains two axes which compare any two attributes of a product with its competitors. These two attributes can be anything e.g. quality, price, benefits, effectiveness, etc.
A perceptual map can have more than 2 axes. But it becomes difficult to draw and understand it then.

Following is an example of my perceptual map of different chocolates in India:


It is used by marketers because they get to know the views of consumers about their brand compared to their competitors.

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