Correspondence Analysis

 

Have you ever wanted to know how your brand is perceived in the market relative to your competitors? Where your brand is strong and weak? Or have you ever wondered how consumers tend to segment the market when they think about brands – do they tend to divide and group brands on the basis of efficacy vs. cost? Customer service vs. ease of use? Sales reps vs. proven quality? Most companies collect independent quantitative metrics to answer these questions, but miss the joint relationships that exist between them. Fortunately a more structured approach exists, called Correspondence Analysis, which allows us to look at these factors concurrently and provide deep insights into market definition and positioning.