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Understanding Customer Perception Using Market Mapping

 Introduction How do customers see your brand compared to competitors? Often, the difference between success and failure lies in how you are perceived in the market. Market Mapping (also called Perceptual Mapping) is a visual tool that shows where your business stands in customers’ minds. Perceptual maps visually show you how existing products/services are positioned in the market, i.e. in the minds of consumers, in relation to product attributes, e.g. features, price, value, etc. and the associated positioning of the competing products in the marketplace. Do you want to know any of the following? If so perceptual/market mapping may help.  <ul> <li>Where to position a new product/service in the market?</li> <li>How the target market perceives your brand in the marketplace?</li> <li>Monitor changes in customer preferences</li> <li>Assess the changing market position of competitive brands</li> <li>Track how new products are being positioned in the market</li> <li>Evaluate the performance of your recent marketing campaigns or strategy change</li> <li>Evaluate the performance of your competitor's recent marketing campaigns or strategy change</li> <li>How the customers see your brand relative to others in the market</li> <li>Gain a better understanding of market segments and spot gaps/opportunities in the market.</li> </ul> What is Market Mapping? Market maps plot products or services against two chosen attributes (e.g., price vs quality, traditional vs innovative, luxury vs value). Using Excel bubble charts allows you to add a third attribute. The resulting map shows clusters of competitors and highlights gaps where new opportunities may exist. Benefits of Market Mapping <ul> <li>Visual clarity – Complex market data becomes easy to understand at a glance</li> <li>Identify gaps – Spot areas where customer needs are underserved</li> <li>Strategic positioning – Decide whether to differentiate, move into a gap, or consolidate existing positioning</li> </ul> Practical Example A food company might map products on price vs healthiness. If the map shows most competitors clustered as cheap but unhealthy, a gap may exist for affordable healthy snacks. A technology company mapping innovation vs ease-of-use may discover a gap in the high-innovation but user-friendly quadrant, signaling a growth opportunity. Application in Practice Using our templates available at <a href="https://www.businesstoolsstore.com/sales-and-marketing/perceptual-or-market-mapping-excel-template/" target="_blank" rel="noopener" title="Market Mapping / Market Perception">The Business Tools Store</a>, allows executives input customer survey data or market research, and automatically generate charts to create perceptual maps. This structured approach helps ensure customer perceptions guide strategic planning.  You can check out the <a href="%20Perceptual/market Mapping User Guide" target="_blank" rel="noopener" title=" Perceptual/market Mapping User Guide ">Perceptual/market Mapping User Guide</a> for full details Conclusion Market Mapping provides a clear picture of customer perception and competitive positioning. It’s a vital complement to tools like <a href="https://www.businesstoolsstore.com/swot-tows-analysis-chart-templates/" target="_blank" rel="noopener" title="SWOT Analysis Templates">SWOT</a>, <a href="https://www.businesstoolsstore.com/swot-tows-analysis-chart-templates/" target="_blank" rel="noopener" title="Porter’s Five Forces Templates">Porter’s Five Forces</a> and <a href="https://www.businesstoolsstore.com/sales-and-marketing/comprehensive-3-level-competitor-competitive-analysis-excel-template/" target="_blank" rel="noopener" title="Competitive Analysis">Competitive Analysis</a> when shaping strategy.
Blue Ocean Strategy: Escaping Cut-Throat Competition by Creating New Market Space

Blue Ocean Strategy is a powerful strategic marketing approach that encourages businesses to move away from highly competitive, saturated markets—what are called red oceans—and instead focus on creating and capturing new demand in largely uncontested markets. The goal? Make the competition irrelevant. This stands in sharp contrast to a red ocean strategy, where businesses fight to outperform rivals in crowded markets. These environments are often characterized by cut-throat competition, shrinking margins, and a constant battle over existing demand—turning the ocean metaphorically "blood red." In a blue ocean, the market space is undefined and uncharted—more like a wide-open sea of opportunity. Here, instead of competing, companies create a leap in value innovation, simultaneously increasing value for customers while reducing costs for the company. Why Blue Ocean Strategy Matters Blue ocean strategy is particularly well-suited to enterprises struggling to differentiate themselves in highly saturated markets dominated by well-established competitors. In such markets, supply often outpaces demand, leaving businesses fighting for survival and profitability. The blue ocean approach provides a way out of this trap by redefining the game: rather than striving to win in the existing playing field, you create a new one where you set the rules. Origin of the Strategy The concept was introduced by Professors W. Chan Kim and Renée Mauborgne in their groundbreaking book: "Blue Ocean Strategy: How to Create Uncontested Market Space and Make the Competition Irrelevant"  Since its release, the strategy has become widely adopted by business. Key Tools for Implementing a Blue Ocean Strategy To help organizations put this strategy into action, we offer a Blue Ocean Strategy Template Portfolio at the Business Tools Store. Our portfolio contains eight essential tools designed to define, develop, and implement a blue ocean strategy: <ul> <li>✅ <a href="https://cdn11.bigcommerce.com/s-61110/images/stencil/1280x1280/products/104/788/Blue_Ocean_ERRC_Grid_Template-2__99279.1642171760.JPG?c=2?imbypass=on" target="_blank" rel="noopener">Eliminate-Reduce-Raise-Create (ERRC) Grid</a> – Included in 3 different editable formats. Helps you review your value proposition and challenge industry assumptions.</li> <li>✅ <a href="https://cdn11.bigcommerce.com/s-61110/images/stencil/1280x1280/products/104/791/Blue_Ocean_Six_Path_Framework_Template__57531.1642171760.JPG?c=2?imbypass=on" target="_blank" rel="noopener">Six Paths Framework</a> – A systematic way to explore new value opportunities across alternative industries, strategic groups, buyer groups, etc.</li> <li>✅ <a href="https://cdn11.bigcommerce.com/s-61110/images/stencil/1280x1280/products/104/785/Blue_Ocean_Three_Tiers_of_Noncustomers_Template__41616.1642171773.JPG?c=2?imbypass=on" target="_blank" rel="noopener">Three Tiers of Noncustomers</a> – Helps you identify, and target overlooked market segments that are currently not being served.</li> <li>✅ <a href="https://cdn11.bigcommerce.com/s-61110/images/stencil/1280x1280/products/104/789/Blue_Ocean_Buyer_Utility_Map_Template__52405.1642171760.JPG?c=2?imbypass=on" target="_blank" rel="noopener">Buyer Utility Map</a> – Visualizes where your offering creates (or fails to create) utility for the customer, across the full buyer experience cycle.</li> <li>✅ <a href="https://cdn11.bigcommerce.com/s-61110/images/stencil/1280x1280/products/104/790/Blue_Ocean_Four_Hurdles_to_Strategy_Execution_Template-2__38330.1642171760.JPG?c=2?imbypass=on" target="_blank" rel="noopener">Four Hurdles to Strategy Execution</a> – Available in two formats. This tool helps you anticipate and overcome resistance to your strategy rollout.</li> </ul> Who Can Benefit from Blue Ocean Strategy? <ul> <li>Companies locked in price wars or low-margin markets</li> <li>Startups looking to disrupt traditional industries</li> <li>Innovators aiming to differentiate through customer experience</li> <li>Strategic planners wanting to reimagine their competitive landscape</li> </ul> Summary Red ocean strategies are about competing. Blue ocean strategies are about creating. If your business is struggling to stand out in an overcrowded market—or if you're looking for the next big opportunity—then blue ocean thinking may be the strategic breakthrough you need. Our Blue Ocean Strategy Template Portfolio is designed to help you take practical steps toward identifying new market space, building a compelling strategy, and executing it effectively. Check out our <a href="https://www.businesstoolsstore.com/strategic-planning-tools-templates/blue-ocean-strategy-ms-word-templates-portfolio/">portfolio of Blue Ocean templates</a> and start building  your blue ocean strategy.
How to Use the Ansoff Matrix to Grow Your Business

If growth is on your agenda, the Ansoff Matrix is a proven tool to explore your options. Developed by Igor Ansoff, this 2x2 framework helps you decide how to expand — by changing your products, your markets, or both. The Four Growth Strategies: 1. Market Penetration – Sell more of your existing products to current customers 2. Market Development – Find new customers or enter new markets 3. Product Development – Introduce new products to existing customers 4. Diversification – Launch new products in new markets (highest risk) Each quadrant balances risk and reward. Market penetration is low-risk and often the first step. Diversification, though full of potential, demands serious research and resources. How to apply it: - Review your current position - Evaluate opportunities in each quadrant - Identify your growth priorities - Develop specific actions for each strategy you pursue Our Ansoff Matrix templates are availabile for Excel, Ms-Word and PowerPoint includes step-by-step prompts and examples to help you evaluate each option and plan your next move with clarity. Ready to grow? Start with our <a href="https://www.businesstoolsstore.com/ansoff-matrix-templates/" target="_blank" rel="noopener">Ansoff Matrix templates</a> — available now in the Strategic Planning section of our store.
SWOT vs TOWS: What’s the Difference and When to Use Each?

When it comes to strategic planning, SWOT analysis is a familiar tool — but the powerfull lesser-known counterpart, TOWS, is not as widely used. While both frameworks use the same core elements (Strengths, Weaknesses, Opportunities, and Threats), their application is quite different. <ul> <li data-start="558" data-end="815">SWOT is primarily descriptive — it helps you understand your current situation by listing internal and external factors.</li> <li data-start="558" data-end="815">TOWS, on the other hand, is action-oriented — it takes SWOT inputs and allows you to develop strategies based on them.</li> </ul> <h3 data-start="817" data-end="844">Here's how they differ:</h3> <ul> <li data-start="847" data-end="889">SWOT = analysis of the current state</li> <li data-start="892" data-end="934">TOWS = generation of strategic options</li> </ul> Example: <ul> <li data-start="953" data-end="1067">A SWOT might identify: Strong customer base, Weak online presence, Growing market demand, Emerging competitors</li> <li data-start="1070" data-end="1223">A TOWS matrix then turns this into actions like: Use strong offline customer loyalty to launch online channels or Use market growth to expand into new markets or launch new related products.</li> </ul> So, if you're just starting out or evaluating your position — SWOT is your tool. But if you’re moving into planning mode — switch to TOWS to create real strategies. Tip: Use both tools sequentially. First SWOT, then TOWS. Our downloadable SWOT and TOWS Excel templates allow you to get started today. Check them out in the <a data-start="1595" data-end="1626" rel="noopener" href="https://www.businesstoolsstore.com/swot-tows-analysis-chart-templates/" target="_blank">Strategic Planning section</a> of our <a href="https://www.businesstoolsstore.com" target="_blank" rel="noopener">Business Tools Store</a>.
Grand Strategy Matrix vs. SPACE Matrix – Which One Should You Use?

Intro: When you're defining the right strategic direction for your business, two proven tools can help: the Grand Strategy Matrix and the SPACE Matrix. Both provide guidance—but with different approaches. In this post, we compare the two to help you decide which best suits your needs. The Grand Strategy Matrix: Four Strategic Zones This matrix maps businesses across four quadrants based on competitive position (strong/weak) and market growth (fast/slow). Each quadrant offers a different strategic recommendation: <ul> <li>Quadrant I: Strong position, rapid growth — pursue aggressive strategies</li> <li>Quadrant II: Weak position, rapid growth — invest to build competitiveness</li> <li>Quadrant III: Weak position, slow growth — consider retrenchment or exit</li> <li>Quadrant IV: Strong position, slow growth — diversify or innovate to sustain momentum</li> </ul> It’s a simple yet powerful visual tool for facilitating strategic discussions at the leadership level. The SPACE Matrix: A Data-Driven Strategy Tool The SPACE (Strategic Position and Action Evaluation) Matrix takes a more analytical path. It scores a business across four factors: <ul> <li>Financial Strength (FS)</li> <li>Competitive Advantage (CA)</li> <li>Industry Strength (IS)</li> <li>Environmental Stability (ES)</li> </ul> The resulting vector points to one of four postures: aggressive, conservative, defensive, or competitive. Key Differences: <ul> <li>The Grand Strategy Matrix is visual and conceptual.</li> <li>The SPACE Matrix is numeric and diagnostic.</li> </ul> Part of a Comprehensive Toolkit These tools form a vital part of a full strategic planning toolkit. Used alongside SWOT, PEST, and Competitive Analysis, they turn diagnosis into direction. Tip: Use the Grand Strategy Matrix when you want a clear strategic overview. Use the SPACE Matrix when you need an evidence-based directional strategy. Download the Templates: Both tools - <a href="https://www.businesstoolsstore.com/grand-strategy-matrix-template/" target="_blank" rel="noopener">Grand Strategy Matrix </a>and <a href="https://www.businesstoolsstore.com/www.businesstoolsstore.com/space-matrix-template-excel/" target="_blank" rel="noopener">SPACE Matrix</a> - are available in fully editable Excel formats with built-in scoring and examples to get you started.
How the BCG and GE McKinsey Matrices Help Prioritize Investments

Intro: Strategic planning often involves tough decisions about where to invest time, money, and talent. Two well-established frameworks—the BCG Growth-Share Matrix and the GE McKinsey Matrix—help businesses make these decisions with confidence. In this post, we'll explore how each works, how they differ, and how you can use them together to prioritize your strategic investments as part of a comprehensive strategic planning toolkit. The BCG Matrix: Simplicity with Impact The <a href="https://www.businesstoolsstore.com/boston-consulting-group-bcg-templates/" target="_blank" rel="noopener">Boston Consulting Group Matrix</a> uses two dimensions: market growth rate and relative market share. It places business units or products into four quadrants: <ul> <li>Stars: High growth, high market share</li> <li>Cash Cows: Low growth, high share</li> <li>Question Marks: High growth, low share</li> <li>Dogs: Low growth, low share</li> </ul> This matrix is simple but powerful—ideal for companies managing multiple products or business units. It guides resource allocation decisions, such as whether to invest, harvest, or divest. The GE McKinsey Matrix: A More Nuanced View The <a href="https://www.businesstoolsstore.com/general-electric-ge-mckinsey-growth-share-matrix/" target="_blank" rel="noopener">GE McKinsey Matrix</a> evaluates business units based on industry attractiveness and business strength, offering a 3x3 grid for more detailed analysis. It uses weighted criteria to assess each dimension, making it a more flexible and customizable option. Use it to: <ul> <li>Evaluate competing priorities more comprehensively</li> <li>Justify strategic choices with supporting data</li> <li>Align investment levels with strategic performance potential</li> </ul> When to Use Which? Use the BCG Matrix when you need quick, high-level portfolio insights. Choose the GE McKinsey Matrix when your strategic decision-making requires more variables and detail. Part of a Complete Strategic Toolkit These tools complement others such as SWOT, Ansoff Matrix, and SPACE Matrix in building a full strategic picture. They are especially effective when used in combination to validate investment decisions. Get Started: Download our ready-to-use templates for both the <a href="https://www.businesstoolsstore.com/boston-consulting-group-bcg-templates/" target="_blank" rel="noopener">Boston Consulting Group Matrix</a> and the <a href="https://www.businesstoolsstore.com/general-electric-ge-mckinsey-growth-share-matrix/" target="_blank" rel="noopener">GE McKinsey Matrix</a> and bring clarity to your strategic investment decisions.
Strategic Planning: A Comprehensive Framework Using Proven Business Tools

Strategic planning is the cornerstone of long-term business success.  It is essential for guiding an organization toward its long-term objectives.  It enables organizations to align their resources, capabilities, and market opportunities to achieve sustainable growth and long-term objectives. It involves assessing both internal capabilities and external environments, identifying growth opportunities, evaluating competitive positions, and formulating actionable strategies. This white paper, <a href="../../../internalapi/v1/catalog/products/downloads/477/serverfiles" target="_blank" rel="noopener" title="Strategic Planning: A Comprehensive Framework: Using Proven Business Tools">Strategic Planning: A Comprehensive Framework: Using Proven Business Tools</a>,outlines a comprehensive strategic planning approach and framework using proven tools—many of which are available as customizable templates in Excel, Word, and PowerPoint formats from <a href="http://www.businesstoolsstore.com" target="_blank" rel="noopener">The Business Tools Store</a>. Each tool supports a different phase of strategic thinking and helps businesses analyze their environment, assess internal capabilities, identify strategic options, and implement actionable plans. When used together, they offer a proven structured, data-driven pathway from business insight to execution and business success. <h2>Introduction to Strategic Planning Process</h2> Strategic planning process that defines an organization’s direction and makes decisions on allocating resources to pursue this strategy involves the following process: <ul> <li>Environmental analysis and understanding - Internal analysis/Where do we stand - Competitive & Customer Insight/Market Positioning - Strategy Option & formulation/Identifying the Right Path - Strategy implementation - Performance monitoring</li> </ul> Download and checkout our comprehensive guide at <a class="x_OWAAutoLink x_elementToProof" id="LPlnkOWA49ba620b-9bb5-d4df-572e-ddd6c666bc79" originalsrc="https://online.fliphtml5.com/itsx/hidf/#p=1" data-auth="NotApplicable" href="../../../internalapi/v1/catalog/products/downloads/477/serverfiles" data-linkindex="0" title="Strategic Planning: A Comprehensive Framework: Using Proven Business Tools" data-olk-copy-source="MessageBody" target="_blank" rel="noopener">Strategic Planning: A Comprehensive Framework: Using Proven Business Tools</a>
Excel Training Offer for Black Friday and Cyber Monday

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Developing expertise to build comprehensive Business Solutions

For over 10 years we have provided a portfolio of business tools to address everyday business tasks and problems, covering all the business functions. We appreciate that busy executives do not have the skills or time to develop comprehensive tools and want to spend their time addressing the business problem rather than developing a suitable tool. To respond to that need all our solutions can be used straight out of the box (10-minute learning curve) and provide clear user information, via a simple user guide. While addressing an explicit business problem, use only standard features of Excel, PowerPoint, etc with no fancy macros, passwords, etc. so that they can be fully customised by any executive with basic skills in the relevant platform. Platforms, such as Excel, Word and PowerPoint are continuously enhanced and now provide features, including AI, to form a very powerful basis for comprehensive business solutions. For those executives, who wish to enhance their expertise in these platforms, we are delighted to have teamed up with <a href="http://www.mothresource.com/377-22-3-23.html">My Online Training Hub</a> to provide a portfolio of online training and skills to enable those executives to develop an extensive portfolio of solutions tailor-made for their business. We will continue to offer you a comprehensive portfolio of products/templates that provide business solutions that can be used straight out of the box using only standard features of the relevant platform. However, if you wish to enhance your skills, pop over to <a href="http://www.mothresource.com/377-22-3-23.html">My Online Training Hub</a> and check out the large collection of skill enhancement opportunities not just via the excellent online courses but also via superb <a href="https://www.mothresource.com/idevaffiliate/idevaffiliate.php?id=377&url=61" target="_blank">webinars</a> and informative <a href="http://www.mothresource.com/377-15-3-17.html">Excel Blog</a> postings to enhance your expertise by sharing quick tips, and showing you short cuts, and insider tricks.
Which tools are in your Strategic Planning portfolio?

Strategic planning is an essential process for organizations to stay competitive and achieve their goals. To effectively navigate the complexities of strategic planning, it is crucial to have the right tools in place. For some the array of tools can be confusing. Questions arise such as which tools should I use? Which ones are appropriate for which situations? Should I use them separately or in unison? In this section, we will explore some of the best practice strategic planning tools that can enhance your strategic planning portfolio. One widely used tool is the SWOT matrix, which stands for Strengths, Weaknesses, Opportunities, and Threats. This tool helps organizations assess their internal strengths and weaknesses as well as external opportunities and threats. The SWOT matrix provides a comprehensive overview of the current situation and serves as a foundation for developing forward looking strategies.Another valuable complementary tool the TOWS matrix, which builds upon the SWOT analysis. It seeks to address criticisms of the SWOT Analysis regarding its inability to show relationships between the various categories. While the SWOT Analysis identifies Strengths, Weaknesses, Opportunities, and Threats, it does not show or make any links between them.The TOWS matrix on the other hand seeks to identify links between the various elements identified in the SWOT analysis. Internal strengths and weaknesses are compared to external opportunities and threats. Every link between the four individual factors can influence and impact each other and contribute to the overall strategic plan.It takes the identified strengths, weaknesses, opportunities, and threats from the SWOT analysis and helps generate specific strategies by matching internal strengths with external opportunities (SO strategies), internal weaknesses with external opportunities (WO strategies), internal strengths with external threats (ST strategies), and internal weaknesses with external threats (WT strategies).In addition to these matrices, another effective tool is PEST analysis. PEST stands for Political, Economic, Social, and Technological factors. No business or organisation operates in a vacuum. This tool allows organizations to analyze the macro-environmental factors that may impact their business operations. By understanding these factors, organizations can identify potential risks or opportunities and adjust their strategies accordingly.Lastly, we have the SPACE matrix which stands for Strategic Position and ACtion Evaluation matrix. It is used to determine what type of strategy a company should undertake. The SPACE matrix consists of four quadrants where each quadrant suggests a different type or a nature of strategy: The two-dimension SPACE matrix axes are:Internal strategic dimensions derived from Financial strength (FS) and Competitive advantage (CA)The other axis is used to plot External strategic dimensions based on Environmental stability (ES) and Industry strength (IS)By plotting these dimensions on a graph, organizations can identify which quadrant their current position, relative to competitors, they occupy and determine appropriate actions moving forward. The two-dimension matrix suggests one of four strategies based on the four quadrants of the matrix. These are (a) aggressive, (b) conservative, (c) defensive and (d) competitive.While each of these tools can be used individually depending on specific needs or situations faced by an organization during strategic planning processes; collectively they provide a comprehensive framework for analyzing internal capabilities as well as external factors influencing the business environment.When deciding which tools to add to your strategic planning portfolio, it is essential to consider the specific needs and goals of your organization. By incorporating these best practice tools into your strategic planning processes, you can enhance decision-making, identify new opportunities, and effectively navigate the ever-changing business landscape.Templates for all the tools discussed here are available in our <a href="https://www.businesstoolsstore.com/strategic-planning-tools-templates/" style="background-color: initial; font-family: Arial, Helvetica, Verdana, Tahoma, sans-serif;"> The Business Tools Store Strategic Planning</a> section.