Technical experts can easily classify marketed brands based on objective data such as technical attributes and prices. However, consumers who are about to make a purchase are influenced by their perceptions of the brands available on the market rather than by the actual features and properties of these brands.
Perceptions are by definition subjective and can therefore be distorted from reality. The Markstrat simulation provides two market research studies to assess consumers’ needs and estimate how brands are perceived: the Semantic scales study and the Multidimensional scaling study.