Market mapping and segmentation
This market map helps companies decide what product to produce based on the products that already exist. You can divide a market by different segments such as high quality, low quality, low price and high quality. You can benefit from market segmentation by producing a product that has the quality and price that isn't even out yet. you could also use it to see where your company is going, say if you have high quality high price and low quality low price, you might want to make a high quality product but sell it for a low price.