Identifying Market Gaps

For this assessment, you will conduct a gap analysis to determine available opportunities within a particular industry to gain competitive advantage in areas such as operational excellence, product development, and customer segmentation.
Gaps in practice can come from multiple sources such as legal or regulatory concerns, disruptive technology, convergence of trends, entry of nontraditional competitors, customer or market shifts, and a pandemic such as Covid-19. You will choose among three different industry scenarios: the Internet of Things (IoT), 3D Printing (Additive Manufacturing), and Connected Autonomous Vehicles (Self-Driving Cars).
To determine the gaps in practice, you will research the current state of the industry and define a desired future state for the industry. Having identified the gaps in practice, you will articulate strategic decisions to be made within the industry. Sample areas of strategic decisions include operational excellence, customer intimacy, and product leadership. Examples of strategic decision options are existing products marketed historically, products marketed in new sectors, and new product development in new markets.
This assessment will help you become a consumer of data from multiple sources such
as IBISWorld, a global industry database. Each IBISWorld Industry Research Report offers actionable insights, comprehensive data, and in-depth analysis.
To present your findings, you will create an executive brief in the form of a PowerPoint presentation for C-suite executives.

Choose one of the following scenarios to focus on for your executive brief:

  1. Internet of Things (IoT) for the Smart Home Appliance Industry.
  2. Disruptions to Supplier-Dominated Firms From 3D Printing and Additive Manufacturing.
  3. Connected Autonomous Vehicles Implications for the Automobile Insurance Industry.

You are advised to begin this assessment by ensuring that you have reviewed the available information related to your chosen scenario.

Prepare the brief as a PowerPoint presentation using the Executive Brief Template [PPTX], including a title slide, slides as needed to accommodate Parts 1–4 of the executive brief and reflection, and a reference slide. All work should be supported with citations, including infographics. You have been provided an initial set of relevant readings for each scenario; you are expected to provide additional industry research including sources from appropriate databases.

Complete the following, addressing all prompts:

• Part 1: Executive Summary. Present the key points of your findings from Parts 2 and 3 in no more than two slides.
• Part 2: Industry Context. Include research you conducted on the industry presented in your chosen scenario. What is the current industry state? Provide specific details on market size, growth rates, industry drivers (including technology), and industry trends. An infographic is required for this portion.
• Part 3: Industry Gaps in Practice Analysis. As you construct Part 2, identify industry challenges and gaps in practice. Some gaps in practice have already been provided in the scenarios to provide a starting point. For Part 3, address three gaps in industry practices, prepare an infographic, and include the table provided in the Executive Brief Template, completing the following for each gap:
o Current State of Practice. From the scenario and your independent research, what is the current state of practice? How does it work today? Identify the library databases you used to support your independent research. Why are these databases appropriate?
o Desired State of Practice. Based upon your independent research, what is the targeted or desired state of practice?
o Industry Gap in Practice. Specifically define the gap in practice with supporting evidence. What do industry participants need to address? What is causing the gap? What is the disruption?
o Strategic Decision to Be Made. Using the categories of strategic decisions, identify and describe the types of decisions that must be made by industry leaders to address the gap, then select one strategic decision based upon two or more alternatives under consideration.
• Part 4: Reflection. From a practitioner perspective, how do you see the utility, value, and application of strategic decisions relating to gaps in practices? What did you learn from this assessment?

Reminder: Infographics are a requirement for Part 2, Industry Context and Part 3, Industry Gaps in Practice Analysis. Be sure to create infographics that illuminate the data and provide a clear overview of the topic.
Review the assessment scoring guide before submitting your assessment to ensure that you meet all criteria.

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