infoAnalytica performs Market Mapping through the study of as many market conditions (market condition: sum of the characteristics of a market into which a company is entering, e.g. quantifiable competitors, competition intensity and the market's growth rate.) as possible that is plotted graphically (map) to identify trends, attributes and variables between potential and existing buyers and products. Market mapping helps marketing organizations locate internal weaknesses and external threats that can be used to assess the best possible elements of the product and marketing mix by figuring out the problems that emerge upon examining applicable variables. Market Mapping also helps in identifying gaps in the market that can be exploited. A good market map should also reveal how existing products are positioned in the market, especially competing ones.
A sophisticated market mapping should, where applicable, also reveal the overall supply chain characteristics of the market, for instance the number of suppliers, distributors and retailers for a consumer goods company. Other market maps may include information on key influencers for a product or service, whether they are individuals, value added resellers or prospective partners. Insights become more actionable with the more attributes or characteristics that a market map carries. A market map should also carry information on each of the market segments involved, and their related influence within the map.
A market map can be constructed by infoAnalytica based on individual company needs for their product or service.