How to Make a Perceptual Map in Excel
A perceptual map is used for making decisions in business management and is a graphic display of how a customer feels about competing products. The customer’s choice (in other words, the market) is represented on a Euclidean (X,Y axis map) where the distance between a pair of coordinates represents how far apart the products are in the consumer's mind. To draw a perceptual map, you must have the market data already listed in an Excel worksheet in two columns. Each column, x and y, has the numeric representation of the score for that axis. For example, if "x" represents Old Fashioned vs. Modern, then a score of 1 might represent Old Fashioned, a score of -1 might represent Modern, and a score of 0 might represent indifference to either.
Highlight your data by left-clicking on the top-left cell, and dragging your mouse to the bottom right.
Click the “Insert” ribbon.
Click “Other Charts” in the "Charts" section of the "Insert" ribbon.
Click “Bubble” to display your perceptual map on your worksheet.
Highlight your data by left-clicking on the top left cell, and dragging your mouse to the bottom right.
Click on "Chart" from the "Insert" menu.
Click on "Bubble" in the Chart type box.
Click the chart sub-type you want to use, then click "Next" twice.
Tips & Warnings
- You can change the size of the bubbles in your map by adding a third column of data with the size you want, and highlighting that column with the other two in step 2.