Market Map
A visual display of information about the market that is used to evaluate the company and product�s customers, channels, and competitors, plus the regulatory and reimbursement environment.
Implications
A visual representation of a market, showing the relationships between different players, segments, and value chains, often used to understand market dynamics, identify opportunities, and guide strategic planning.
Example
Example: A telecommunications company creates a market map for the mobile phone industry, highlighting key competitors, customer segments, and distribution channels, providing a clear overview of the market landscape for strategic planning.
Related Terms
Different from market segmentation, which divides the market into customer groups, a market map provides a broader view of the entire market, including competitors, distribution channels, and market structure.
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