The conduct of a gap analysis
In the conduct of a gap analysis, the findings maybe that the existing products on offer are not what the consumer looks for. The company should fill the gap in order to survive. Extensive realistic planning should be made to make the company adapt to the market trends and continue to grow.
The gap analysis will reveal the planning gap when the forecast profits are compared to desired profits. The new forecast will thus include goals based on actual outcomes and new activities will be integrated into the plan and include new products.
