Question

After examining a planning gap, firms typically attempt to decide if the time horizon should be increased or decreased. perform a SWOT analysis with their major competitor as the focus. use statistical trend analysis to interpret the results. exploit a positive deviation and correct a negative deviation. adopt a product-market focus.

Answer 1

Answer: exploit a positive deviation and correct a negative deviation

Explanation:

A planning gap is the difference that occurs in revenue or profits gap when current strategies are not changed. The gap analysis can help in the identification of gaps in the market. Therefore, when an organization compares its forecast profits to the company's desired profits, the planning gap will be shown.

When the actual results are lesser than the planned result, the organization would have to fill the gap with a marketing program which has been revised and sometime with new goals. Therefore, the firm can then decide whether to exploit wither a positive deviation and correct a negative deviation.