When Should A Growth Directed Firm Use Market Gap Analysis?
A Market Gap Analysis should be used when the firm is: Looking to forecast and confirm demand for an existing product or service; Seeking to enter a new business vertical or industry; Trying to decide on the investment needed to expand a buyer offering; Seeking to merge or acquire another firm; or Deciding to launch a new product or service business. Growth Step 2 – Pick Your Growth Model: Market Growth Options You Can Use Market Duplication. This model focuses on paralleling your product or service offering’s pricing, features, and business program based on your direct competitor’s business model. Market Variation. This model is based on the competition’s model, but adjusts it to visibly offer prospects some improvement in product, feature, and price or its distribution approach. Market Symbiotic Attachment. This model is used by firms whose revenue streams are connected directly to the success or failure to other vendors or partners they work with and is often seen with channel partn
