Usage gap[ edit ] The usage gap is the gap between the total potential for the market and actual current usage by all consumers in the market. Data for this calculation includes: Market usage Existing usage[ edit ] Existing consumer usage makes up the total current market, from which market shares, for example, are calculated. It usually derives from marketing research, most accurately from panel research, but also from adhoc work.
The gap could be positive that is, we are in a better position or negative our position is worse.
In competitive intelligence, we study gaps especially the negative ones because we want to know and explain what our competitors are doing to create a significant advantage for themselves.
See a video presentation on this topic by clicking here. So, we study and communicate the gaps and then we are done? Identifying the known gaps though not necessarily easy is only the first step in a robust gap analysis process. Here are the 5 steps to comprehensively think through gaps, to create simple tracking methods and to ultimately get to the actions that Gap competitive analysis close the gaps.
Since there has been a press announcement, live demonstrations which seem to confirm the claims and an established track record for the competitor, we can firmly believe that the product and the claims for it are real. Furthermore, we know that our customers highly value performance. Hence, this is a gap that is well characterized and is significant to our competitive position.
To assemble a starting list of known gaps, solicit input from the management, business development, marketing and sales teams. For each gap that they identify, make sure that it is specific and well described, that the impact is estimated and each competitor which is better is noted.
There will be some of these gaps which cannot be fully described.
There may be information missing about the exact nature of the gap or its impact. Without more information, it is also very difficult to assess the potential significance of the gap.
Then, when the uncertainty threshold is crossed and the evidence is more substantial, the potential gap can be escalated to a known gap status. How do we look even further back in time to find things that lead to the potential gaps?
Make a list of triggers which may lead to gaps. Triggers are not gaps. Instead, they are events, activities, announcements and such that may signal gaps in the future.
Why are they important? They are important because companies rarely operate in a vacuum. Public companies, especially, signal much of what they plan to do through all types of disclosures. If we are attuned to these disclosures, we get hints of future strategic directions. Continuing the faster product example, it is entirely possible that the competitor had made patent filings years before the product was announced.
They may have purchased the assets of another company with specific technology competencies. They may be actively making venture investments in small companies with complementary products. In an ongoing business, all of these types of triggers are predictable.
A trigger list can serve to organize the monitoring of such triggers. Triggers are often driven by broader forces in the market. List the key trends which affect the market. It starts to get a little fuzzier in this category.
Nevertheless, tracking demographic, technology, product, legal and other areas is important. In technology, the broad trends of things getting smaller, faster, cheaper and more communicative is not a revelation to most people.
More recently, the trends toward more social media, lowering energy consumption, increasing recycling features and more emerging market support are becoming important. The key to trend monitoring to find the ones that most affect customers and, therefore, their buying decisions.GAP SWOT analysis.
Strengths. 1. Gap has strong dealership teamwork thus it is able to reach its customers all around the world. 2. Good working knowledge and experience makes GAP adapt to new trends easily. 3. GAP products are durable and long lasting.
4. Gap has a section for baby products which are always in demand despite market . Competitive advantages can be achieved by exceeding customer expectations outlined by the gap analysis.
A gap analysis is a tool to narrow the gap between perceptions and reality, thus enhancing customer satisfaction. A gap analysis is applicable to any aspect of industry where performance improvements are desired;. The Competitive Gap Analysis Template is here to help you get an edge over the rest.
It is available in A4 and US letter size. Gander at the business standard fonts used, the RGB color space, DPI resolution, and orientation style portrait.
The Competitive Analysis section of your business plan is devoted to analyzing your competition--both your current competition and potential competitors who might enter your market. Gap, Inc.
(The) (GPS) Competitors - View direct and indirect business competitors for Gap, Inc. (The) and all the companies you research at blog-mmorpg.com 5 Steps for Gap Analysis Tom Hawes Competitive Intelligence, Early Warning The difference between where we are and someone else is at the moment is a “gap”.