The Marketing Plan: GAP Analysis

Every business should determine its own standards for success when evaluating the attractiveness of a market, since every industry has its unique circumstances. Criteria that influence Segment Attractiveness include:

Market Growth (Market Size, Growth Rate, Market Potential)

Competitive Intensity (Number of Companies, Ease of Entry, Substitutes)

Market Access (Customer Familiarity, Channel Access, Company Fit)

While benchmarking based on criteria is beneficial in capturing the qualitative aspects of a market situation, the profit potential must also be assessed for all segments deemed attractive based on their market attractiveness indexes.Segmentation Application

Provide a brief description of your chosen product/service. (This should be used throughout the class.)

Analyze customer needs for the target product

Discuss Segmentation Strategies based on two real competitors’ market position

Devise a niche marketing strategy that would be appropriate for your company’s product.