The gap analysis has several purposes. In part, the analysis helps you discuss and clarify the difference (or gap) between your company's current situation and your desired situation. In this way, you can gain clarity about your company's current and future solutions in relation to your customers' needs. Partly, by carrying out this study, you are forced to make some decisions about which gaps and untapped potentials for new products or services are in the market. Finally, the analysis provides a prioritization basis for where one should invest time and resources in order to achieve the desired result.
The analysis can be divided into three phases:
Before starting the analysis itself, it is important that you decide how you want to measure or assess the gap between the current and future solutions. Should it e.g. Be it in relation to sales, market share, geography or something completely different?
Before the analysis, it is also a good idea to have researched your industry, e.g. with a business- or SWOT analysis to get an overview of your current (competitive) situation.
The analysis is based on answering the two questions:
These questions are answered on the basis of the research you have prepared in preparation for the Gap analysis.
The SWOT analysis can be a valuable tool to complement the Gap analysis, because it provides a more detailed insight into your company's internal and external strengths and weaknesses. Which is naturally a good starting point for identifying the current situation.
Furthermore, an analysis of the company's growth market share with the BCG matrix can help identify gaps in your current product portfolio.
Your initial analysis shows, for example, that consumers are demanding healthier ready meals and that this need is not being met by food manufacturers. This gap is therefore a potential market for your business. The next step is to decide what products, services or pricing structures it takes to close this gap.
VARIATION
The analysis can be carried out in two different ways. You can (as described in this article) start by analyzing your current situation and then identify what the market and customers need in the future. Alternatively, you can start from the desired state (e.g. that the sales of a certain product increase by 10 %) and then identify which steps you must take to close the gap. This solution is of course best when you have a well-defined goal in advance.
Based on the Gap analysis, you can now decide which prototype(s) you should develop.
At the same time, the analysis can act as a benchmark for whether the existing solution proposals you may have have sufficient potential to achieve the goals you have set for yourself.
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