What is perceptual mapping used for in marketing?

Perceptual mapping is a valuable tool in marketing used to visually display customer perceptions of a brand or product in relation to competitors. This technique allows marketers to create a graphical representation that plots various brands based on different attributes that are important to consumers, such as quality, price, and features. By analyzing this visual data, companies can identify gaps in the market, understand consumer preferences, and make informed decisions about positioning and strategic marketing efforts.

The other options, while relevant in certain contexts, do not specifically pertain to the primary function of perceptual mapping. Tracking sales trends involves analyzing quantitative data over time, calculating marketing expenses focuses on financial aspects, and identifying distribution channels pertains to logistics and supply chain management. These functions do not address the core use of perceptual mapping, which is directly connected to understanding and visualizing how customers perceive products or brands in the marketplace.