Chaprer3
Chaprer3
1. What is a feasibility analysis? What is it designed to accomplish?
Feasibility analysis is the process of determining whether a business idea is viable. It is the preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing.
2. Briefly describe each of the four areas that a properly executed feasibility analysis explores. product/service feasibility, industry/market feasibility, organizational feasibility, and financial feasibility.
3. What is a product/service feasibility analysis?
Product/service feasibility analysis is an assessment of the overall appeal of the product or service being proposed.
4. Describe the difference between primary research and secondary research.
. Secondary research probes data that is already collected.
Primary research is research that is collected by the person or persons completing the analysis.
5. What is a concept statement?
A concept statement is a one-page description of a business that is distributed to people who are asked to provide feedback on the potential of the business idea.
6. What is a buying intentions survey, and what does it accomplish?
A buying intentions survey is an instrument that is used to gauge customer interest in a product or service.
It consists of a concept statement or a similar description of a product or service with a short survey attached.
7. What are the two ways that entrepreneurs assess the likely product demand for the proposed product or service they are analyzing?
Step 1: Administer a Buying Intentions Survey (Primary research)
Step 2: Conduct Library/ Internet research (secondary research)
8. What is gumshoe research in the context of product/service feasibility analysis?
A gumshoe is a detective or an investigator that scrounges around for information or clues wherever they can be found.
9. What is industry/target market feasibility analysis?
Is an assessment of the overall appeal of the
1. What is a feasibility analysis? What is it designed to accomplish?
Feasibility analysis is the process of determining whether a business idea is viable. It is the preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is worth pursuing.
2. Briefly describe each of the four areas that a properly executed feasibility analysis explores. product/service feasibility, industry/market feasibility, organizational feasibility, and financial feasibility.
3. What is a product/service feasibility analysis?
Product/service feasibility analysis is an assessment of the overall appeal of the product or service being proposed.
4. Describe the difference between primary research and secondary research.
. Secondary research probes data that is already collected.
Primary research is research that is collected by the person or persons completing the analysis.
5. What is a concept statement?
A concept statement is a one-page description of a business that is distributed to people who are asked to provide feedback on the potential of the business idea.
6. What is a buying intentions survey, and what does it accomplish?
A buying intentions survey is an instrument that is used to gauge customer interest in a product or service.
It consists of a concept statement or a similar description of a product or service with a short survey attached.
7. What are the two ways that entrepreneurs assess the likely product demand for the proposed product or service they are analyzing?
Step 1: Administer a Buying Intentions Survey (Primary research)
Step 2: Conduct Library/ Internet research (secondary research)
8. What is gumshoe research in the context of product/service feasibility analysis?
A gumshoe is a detective or an investigator that scrounges around for information or clues wherever they can be found.
9. What is industry/target market feasibility analysis?
Is an assessment of the overall appeal of the