Chapter 3 - Chapter 3 Feasibility Analysis *Highlighted =...

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Chapter 3 Feasibility Analysis ***Highlighted = Notes on Exam 1 Study Guide*** Feasibility Analysis – is the process of determining if a business idea is viable. if an idea is worth pursuing screen ideas before spending resources on them. opportunity recognition feasibility analysis business plan Four Components of the Feasibility Analysis : a) Product/Service Feasibility b) Industry/Market Feasibility c) Organizational Feasibility d) Financial Feasibility A. Product/Service Feasibility – assessment(s) of the overall appeal of the product/service. 1. Concept Testing - showing a representation of the product/service to prospective users to gauge customer interest, desirability, and purchase intent. Purposes: a) to evaluate the underlying premises of a product/service b) to help develop an idea; and c) to estimate potential market share 2. Concept statement - a preliminary description of a business developed b/f the feasibility analysis, includes: A description of the product/service The target market Benefits of the product or service A description of how the product will be positioned relative to competitors
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This note was uploaded on 06/12/2011 for the course MNGT 305 taught by Professor Chadwick during the Spring '11 term at Nicholls State.

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Chapter 3 - Chapter 3 Feasibility Analysis *Highlighted =...

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