engri 127hw#2 - 4. Case 3.1: Discussion questions: a).If...

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4 . Case 3.1: Discussion questions: a).If the founders of Palapa Azul hired a professional market research firm to pick a name for the company and do its market research, they would lose the opportunities to make connections with the customers, know their interest, desirability and purchase intent and also make the people associate with their products. To do this product feasibility research by themselves, founders can communicate with different kind of people with different incomes, tastes, genders and know what various customers want. The opinions from customers can help founders to develop and strengthen ideas and help the founders to develop a concept statement or business plan. Also doing the research by themselves can help the founders to understand their product market and the company goals. b).I will conduct an industry/market feasibility analysis in three primary issues: the industry attractiveness, market timeliness and the identification of a niche market. For industry attractiveness, I will consider the characteristics of attractive industries like growth, size, importance to customers and how crowded the market is and do primary and secondary research. For market timeliness, I will consider the particular time to introduce new or improved products and consider the first or second-mover advantage. Also I need to identify the vertical market which focuses on specialized needs from the horizontal market which is need of a wide variety. I will conduct an organizational feasibility analysis in two primary issues: management prowess and resource sufficiency. I will conduct the financial feasibility analysis in three issues: the total start-up cash needed, the financial performance of similar businesses and overall financial
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engri 127hw#2 - 4. Case 3.1: Discussion questions: a).If...

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