Gap analysis can be performed on:
A Strategic Level- to compare the condition or level of your business with that of the industry standards
At an Operational Level – To compare the current state or performance of your business with what you had desired.
Here is where a gap analysis would play a crucial role in understanding where the product is and what it lacks, where the product needs to be in order to make its place secure in the market and give a tough fight to any other competitor who might be offering a similar product.