Gap Analysis
A tool to identify shortcomings in the current set of marketing capabilities and establishes a plan to close these gaps, including prioritizing the most critical gaps.
Implications
A method used to compare actual performance or outcomes with desired performance or outcomes, identifying gaps or deficiencies that need to be addressed to achieve strategic goals, often used in business planning, process improvement, and skill development.
Example
Example: A retail company conducts a gap analysis to identify the difference between its current online sales performance and its target sales goals, leading to the implementation of new digital marketing strategies to close the gap.
Related Terms
Different from SWOT analysis, which assesses strengths, weaknesses, opportunities, and threats, gap analysis specifically focuses on identifying and addressing shortfalls between current and desired states.
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