Gap analysis

Gap analysis

Gap analysis is another useful tool which answers two questions: Where are you? Where do you want to be? It can be useful to identify where you are with the following facets of the business:

Organisation

Business direction and marketing mix

Business processes

Information technology

Requirements vs capability

Market potential vs existing usage

Your business vs competition

Feedback

Now that you have an accurate picture your plan's success it isimportant to feedback this information in order to fine tune the strategy and update your actions accordingly.

Final words

The marketing planning process is a comprehensive method for examining your business, your market and the environment in order to develop a strategy to exploit opportunities. This is a vital process which should be used by almost every company to ensure a profitable and sustainable future.