Positioning, the third element in the STP, refers to how a company or brand establishes itself in the minds of its target customers.

The main objective of positioning is to differentiate the brand from competitors for increased visibility and prominence in the market.

Perceptual maps, also known as Position maps, are instrumental in achieving this by visually analyzing the competitive landscape.

Firstly, they help identify customer preferences, allowing companies to position their products to resonate with them.

Secondly, the axes of a perceptual map emphasize a product's distinctive features. By showcasing these qualities, companies can effectively differentiate themselves from competitors.

Thirdly, these maps help identify market gaps where competition is minimal or nonexistent, and companies may pursue them if feasible.

Fourthly, by understanding the positioning of competitors on the map, companies can make informed decisions to position their products uniquely and avoid direct competition.

It is crucial to regularly update these maps, considering that customer perceptions and competitors' responses to the market are dynamic and subject to change.