Product Fit Assessments
and Gap Analysis
Once the market analysis and competitive analysis have been completed, a comprehensive face-off matrix between competitors must be developed to perform a product fit assessment and gap analysis. This is a crucial, and often overlooked, step in the successful execution of product / service business launches into new markets.
In this phase, Skip Feher & Associates will establish market-leading benchmark standards and specifications for the target product / service as determined by the market research and analysis Deliverable. A matrix will then be developed to map and rate each competitor’s products / services, and those of the client's, against the established benchmarks. A subsequent report will be generated identifying the key strengths of the client’s products / services, as well as gaps, and will rate them against that of the competitions’. An accompanying document will provide recommendations for closing the gaps. That document will include:
| » | Recommendations for organic growth (based on the client’s core competencies) |
| » | Recommendations for establishing strategic alliances |
| » | Recommendations for possible acquisition targets, if applicable |
With this Deliverable, your management team will be armed with the information necessary to determine the level of commitment (resources and investment) required to position your company as a top tier competitor in your new market.