How to identify market gaps?

Identifying market gaps is an essential part of any successful business strategy. To find market gaps, it's important to identify unmet needs of customers, monitor changing consumer trends, and analyze competitor offerings. It's useful to conduct market research to gather information on customer preferences and habits, and identify areas where current offerings may fall short. Additionally, looking for new and emerging markets, exploring untapped niches, and paying attention to consumer feedback can help identify gaps in the market. By identifying these gaps, businesses can recognize untapped opportunities and develop products or services that cater to the needs of consumers, ultimately leading to increased success and growth.

This mind map was published on 5 June 2023 and has been viewed 88 times.