A perceptual map is a visual tool used by businesses and market researchers to illustrate how consumers perceive a product in comparison to its competitors, helping to identify current market positions and potential opportunities for growth. Unlike positioning maps, which evaluate the actual features of brands, perceptual maps reflect customer perceptions that may not always align with reality. There are two main types of perceptual maps: two-dimensional, which are simpler and more commonly used, and multidimensional, which offer more complexity and depth. To create a perceptual map, businesses need to select relevant parameters, identify competitors, and plot brands on a two-dimensional scale based on consumer surveys or market research. This tool aids in launching effective marketing campaigns, enhancing brand identity, understanding market segments, and identifying gaps in the market for new products. The process involves choosing parameters, identifying competitors, creating the map, and sharing it with stakeholders to inform strategic decisions. Regularly updating the map based on market changes is crucial for maintaining its relevance and accuracy.