Research business opportunities Learner's Guide
Home
Your task Topics Self tests Activities Example businesses References Contents
Discussion
Activities Define your market: Practical activity - Filling market gaps
Filling market gaps

A key to success is tailoring your business ventures to meet a predetermined need in the market. If you are aware of a specific 'gap', ask yourself the following questions about your product or service.

  • What customer groups could be interested in this product?
  • Is there a sufficient number of customers who would need and purchase the product?
  • How could you make this product accessible to customers?
  • What is the most appropriate distribution channel?
  • How does this product actually satisfy market need not being met at present?
  • Who are the competitors that offer related products?
  • Would this product idea be distinguishable from similar available goods?