MMerz_eSocietyWS_17Oct09

MMerz_eSocietyWS_17Oct09 - e-Society Workshop San Jos State...

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
1 e-Society Workshop San José State University October 17, 2009 © copyright Dr. Michael Merz Department of Marketing & Decision Sciences College of Business San Jose State University Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 2 Today’s Agenda 1. You have a Good Idea and Now What? Feasibility Analysis 2. Secondary Data Gathering 3. Primary Data Gathering: Questionnaire Design
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 1. You have a Good Idea and Now What? Feasibility Analysis Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 4 What is a Feasibility Analysis? Preliminary evaluation of a business idea. Process of determining whether a business idea is viable/worth pursuing. It follows the opportunity recognition stage and comes prior to the development of a business plan. It takes the guesswork (to a certain degree) out of a business launch and provides an entrepreneur with a more secure notion that a business idea is feasible or viable. The thought is to screen ideas before lots of resources are spent on them.
Background image of page 2
3 Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 5 Role of Feasibility Analysis A Feasibility Analysis includes four components. Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 6 Product/Service Feasibility Analysis Assessment of the overall appeal of the product or service being proposed. The idea is that before a prospective firm rushes a product or service into development, it should be confident that the product or service is what its prospective customers want. Benefits: – Getting the product right the first time – A beta (or early adopter) community emerges – Avoiding any obvious flaws in product or service design – Using time and capital more efficiently – Gaining insight into additional product and service offerings
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
4 Dr. Michael Merz Department of Marketing & Decision Sciences College of Business, San Jose State University 7 Product/Service Feasibility Analysis Involves showing a preliminary description of the idea to prospective customers. Purpose: Validate underlying premise of idea (product features, price, location) Help develop the idea (improvements) Estimate the potential market share (purchase intention) Concept Statement (a one page description of the product idea) should be developed first. Product/Service Feasibility Analysis Concept Testing Usability Testing Involves asking prospective customers to perform certain tasks with the product idea. Purpose: Measure the product’s ease-of- use Measure user’s perception of the experience.
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 09/08/2010 for the course BUS 131D at San Jose State University .

Page1 / 14

MMerz_eSocietyWS_17Oct09 - e-Society Workshop San Jos State...

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online