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Seeking guidance for filling market gap.
Over the past few days, I’ve become aware of a market gap that my company has the potential to fill. However, I need clarification about the steps I should take to develop a product or service that effectively meets this need. Please offer some guidance on the steps I should follow to ensure I create a successful solution for this gap.
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2 Replies
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766
From my experience, discovering a market gap can be an excellent approach for your business to foster innovation and generate distinct offerings that fulfil your customers’ requirements. Before creating a product, researching the market is a crucial step in creating a definitive solution. This is because the information gathered through market research can provide valuable insights into your customers’ preferences, how your competitors approach the gap, and the potential market size.
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628
It’s important to begin by understanding the market gap and identifying the problem you aim to solve. Take the time to research and gather insights about your target audience’s pain points and challenges. Based on that, develop a solution that effectively addresses the problem.
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