Business Magazine | BABM l Business Building

1. What other ways could you sell your product? Simply taking a product that is being sold one way and selling it in a different way can be all that it takes to start a successful business, or turn around an existing one.

2. What additional customers are there for this product? Where are these additional customers? Who are these additional customers? Finding a new customer base for an existing product can be the key to making your business successful.

3. How could you modify or change your existing products or services to make them more attractive to your customers? How could you change the packaging? Change the functions? Change the features? Increase the size or reduce the complexity? Decrease the size or simplify the product? Continually look for ways to offer your product or service in such a way that it is more appealing to the same or to a different customer group.

4. What noncustomers could you develop for this product? Who can you think of who could use, benefit from, and afford this product, who is not buying from anyone at present? What customer groups are not using this product at all at this time? How could you appeal to these people?

5. What new products do your customers want? If you have an existing customer base, what else do your customers need that you are not yet supplying to them? What else can you produce that your customers can use in conjunction with what you are already selling them?

6. What additional methods of distribution exist for your product? How else could you get your product to your customers? Think of the different ways listed earlier. Which of them could work for you?

7. What additional products could you distribute through your existing marketing channels? If you already have distribution channels- retail, direct selling, or direct mail- what other products could you offer that you could sell using the same channels to the same customers?

8. What new products could you develop for your existing distribution channels or existing customers? What else could you sell through these distribution channels to your current customers?

9. What new markets exist for your new products and for your current distribution channels? In other words, where are there people or customers who are not currently using your products or services that you could reach with your existing distribution channels?

10. What additional products could you produce with your existing facilities? With your existing staff? With your existing knowledge? With your existing skills and abilities? What else could you produce? What additional products and services could you create for your existing market?

Opportunity Gap Analysis