One of the foundational principles of branding and marketing is positioning. 
 
That is, defining a unique position in the market that’s both different from your competitors and valuable to your target market. 
 
But competitive positions aren’t just sitting around waiting for the next company to come along and snap them up. 
 
They’re hidden and require tools and deep, creative thinking to be found.  
 
Market mapping is one of the most effective competitive positioning tools available and this article will give you a template to map a powerful brand position. 

What Is Market Mapping?

Market mapping refers to the mapping of your competitive landscape.

It’s the process of using a graph to visualise a given competitive environment by plotting individual competitors using a set of two criteria. 

This mapping process brings the market to life visually helping to uncover gaps, opportunities for brands through the unmet needs of consumers.

The right set of criteria used to plot the map can help to uncover an untapped opportunity of a void in the market that the audience wants.

In other words, the market map in the right hands is a very valuable positioning tool. 

Examples Of Market Mapping Variables

In reality, the positioning map (or perceptual map) used for market mapping is overly simplistic.

But there is power in that simplicity and the value of the map or the results it produces is largely dependant on the importance and creativity of the variables used. 

You can plot pretty much any variable though the closer you are to the important buying decision factors, the more impactful and valuable with gaps and opportunities you find will be.  

Here are a few examples of market mapping variables or dimensions. 

High Price vs Low Price 

Low Quality vs High Quality 

Low Tech vs High Tech 

Simple vs Complex 

Short Turnaround vs Long Turnaround 

Low Capability vs High Capability 

Necessity vs Luxury 

Unhealthy vs Healthy 

Inconvenient vs Convenient 

Step 1: Segment Your Market

Before you go identifying variables and plotting competitors, you want to get crystal clear on the market segment you’re targeting.

Every market is full of segments that differ from each other in their desires, fears, challenges, motivations and of course their buying decisions.

A buying decision factor in one market segment might be super important while for another it might not be in their top 10 reasons to buy. 

So don’t stop at defining your market, get clear on your target market segments. 

Step 2: Define Your Variables

As I just covered in step one, buying decision factors differ from one market to the next and one market segment to the next.

The more intimately you understand the segment you want to target the more granular you can get with identifying the decision-making factors that are important to them.

These factors make for the most powerful market mapping variables.

If you can uncover a gap in the market based on two important decision making factors you have ingredients for a powerful positioning strategy. 

Remember, the more variables and combinations of variables you map your market with, the more likely you are to unearth a unique opportunity. 

Step 3: Score Your Competitors

Before you create any market maps, you need some plot points to work with.

The best way to do this is to gather the data you need in a spreadsheet. 

In the first column, identify all of your market competitors and each proceeding column after that should contain the variables you’ve identified.

Each variable you use will have a high point and a low point so for example you might be plotting the price variable in which case you’d have a low price and a high price.

For each variable, you want to assign a value out of 10. An extreme low point should be scored at 1 while an extreme high point should be scored at 10.

Step 4: Plot Your Market Landscape

Once you have your variables scored for each competitors, mix and match the combinations across multiple maps.  

For example, if you’ve identified “price” and “quality” as important variables, then you can use “price” on the y-axis and “quality” on the x-axis.  

Obviously, the more variables you use, the more combinations there’ll be, the more maps you’ll need. 

When you’ve created your maps using your variable combinations, begin plotting your competitors’ brands across each one of the maps. 

If you’ve identified a laundry list of variables this may take some time but as long as your variables are buying decision considerations, it’s time well spent. 

Step 5: Identify Gaps & Opportunities

After plotting a series of maps based on your combination of variables, you’ll be able to see your market visually, most likely for the first time.

Depending on the combination of variables you’ve used, you may find that some maps display your competitors spread evenly while others might have your competitors crowded together on one side or one quadrant. 

There’s a book by W. Chan Kim and Renee Mauborgne called Blue Ocean Strategy.

The name came from the idea that red oceans are full of sharks (i.e. you competitors) while blue oceans represent opportunity.

The congested areas on your maps represent the red ocean while the free space represents the blue ocean and the gaps and opportunities that market mapping provides. 

Group Map

Group map is positioned as a real-time online brainstorming tool for meetings, workshops or any digital collaboration. 

The software that allows you to create all kinds of different maps and then to share those maps with clients or colleagues.  

Miro

Miro is positioned as a platform where teams get work done. 
 
In other words, it’s the ultimate collaborative tool to create unlimited numbers or types of exercises, activities or interactive maps.

You can use Miro to not just create positioning maps, but to run entire collaborative brand strategy workshops from.