QUESTION 1

What information do perceptual maps provide to marketers? Select the most correct answer.

	1.	They are a clever way to advertise products.
	2.	They provide marketers with information regarding customer perceptions of their and their closest competitors products on important attributes.
	3.	They provide marketers with information on their and their closest competitors products on important attributes.
	4.	They provide individuals with product reviews so they know what brands to buy.

5 points

QUESTION 2

Looking at the provided perceptual map where do you see potential opportunities for new products?

		High quality and high price
		None of the answers are correct
		Low price low quality
		High quality low price & High price low quality

5 points

QUESTION 3

Do you have enough information to invest millions of dollars in product development to pursue the growth opportunities in the provided perceptual map?

	1.	Yes, I will go forward with only the information provided in the perceptual map.
	2.	Yes, this map provides you with all the information you need to invest millions without doing further research.
	3.	No, you do not have enough information, you need to know if there is a viable market. More research would be needed.
	4.	No, this map has no value, and I will not go forward because there is never a good time to investigate other markets.