The Needs Gap is the gaping hole in a market where customer requirements aren’t matched by what’s available.
It could be brought about by the overall customer experience, misaligned product or service specification versus reliability, or unexpected product or service cost versus perceived value.
Any gap needs filling and eventually it will be bridged by a business operating in the sector that has:
- Identified the market’s biggest Needs Gaps.
- Defined how they’ll close them.
- Put the plan into action.
- Aligned their messaging to the Needs Gap they closed.
“The view that an industry is a customer-satisfying process, not a goods producing process, is vital for all businesspeople to understand.” Theodore Levitt
Quote source: https://sciencedirect.com
Thank you for reading.
