Myself in 5 Years

Market mapping is used to develop a clear understanding of how a market actually works, looking at both the routes or channels to market and the role of influencers. A key stage in market mapping is to identify who makes the decision between alternative offers, as it is on these individuals/departments that the segmentation review will focus. A market map defines the distribution and value chain between supplier and final user, which takes into account the various buying mechanisms found in a market, including the part played by 'influencers'.

Market maps help focus attention on key decision makers within a market, and identify key target market segments within a market segmentation project. Market channels and the key players within channels can be easily identified with the help of a graphic presentation of a market.

In addition, the Market Mapping process goes well beyond simply gathering and reporting market data by providing a collaborative, team-based process for bridging the gap between information and action. Market Mapping is an ideal complement to a Future Mapping scenario planning exercise.

In the same way that scenarios help company teams to develop and align around a common view of the future, Market Mapping addresses alignment with customers.

Market Mapping can help companies address issues like these:

They have a vision of the future but they are not sure whether their customers share it. They think they know the best way to segment their market but they could be wrong.

The companies simply don't know their customers well enough to... [continues]