A common way that gaps in the marketplace are recognized is ________.
A) by observing changing environmental trends
B) by recognizing problems that need to be solved
C) via studying industry reports
D) when people become frustrated because they can't find a product or service that they need and recognize that other people feel the same way
E) via combined focus groups and brainstorming sessions

Question

Quizplus · Accepted Answer

When people become frustrated because they can't find a product or service that they need and recognize that other people feel the same way, it is a clear indication of a gap in the marketplace. This is often referred to as a "pain point" that needs to be addressed through the development of a new product or service. Methods such as observing changing environmental trends, studying industry reports, and using focus groups/brainstorming sessions can also identify gaps, but they may not be as direct or effective as realizing a "pain point".

A Common Way That Gaps in the Marketplace Are Recognized