INFORMATION NEEDED FOR A BUSINESS PLAN NO.2

Question 1

is an unmet need or underserved segment in a specific industry or market

*It represents opportunities for businesses to create value
by solving problems or fulfilling needs

Answer 1

MARKET GAP

Question 2

WHAT ARE THE STRATEGIES TO FIND MARKET GAPS?

Answer 2

CUSTOMER FEEDBACK
COMPETITOR ANALYSIS
MARKET RESEARCH
OBSERVATION

Question 3

Strategies to Find Market Gaps

identify pain points and frustrations

Answer 3

CUSTOMER FEEDBACK

Question 4

Strategies to Find Market Gaps

Study trends, demographics and industry reports.

Answer 4

MARKET RESEARCH

Question 5

Strategies to Find Market Gaps

Analyse consumer behaviour and emerging needs.

Answer 5

OBSERVATION

Question 6

TOOLS AND RESOURCES

Collect direct insights from target audiences.

Answer 6

SURVEYS AND INTERVIEWS

Question 7

TOOLS AND RESOURCES

Monitor trends and customer conversations

Answer 7

SOCIAL MEDIA LISTENING

Question 8

TOOLS AND RESOURCES

Study market data and projections

Answer 8

INDUSTRY REPORTS

Question 9

WHAT ARE THE 2 OBSTACLES IN IDENTIFYING MARKET GAPS

Answer 9

MISINTERPRETING CUSTOMER NEEDS

LACK OF DETAILED RESEARCH OR DATA

Question 10

CSCSD

Question 11

TOOLS AND RESOURCES