True or False. Write the word TRUE if the statement is correct and

Question

True or False. Write the word TRUE if the statement is correct and

FALSE if otherwise. If your answer is false, provide a brief explanation.
1.      Technical aspect refers to the details of how you intend to deliver a product or service to customers.
2.      During the pandemic, it is a fact that the coronavirus has not reshaped every one's world. All the restaurants, pubs, hotels, casinos, theatres, and everything where a large number of people used to gather continues to operate.
3.      The company description comes first in your technical aspect. The company description outlines vital details about your company, such as where you are located, how large the company is, what you do, and what you hope to accomplish.
4.      Your choice of business location minimally affects your income, your expenses, and sometimes whether you're operating legally or not. Even in an age where people can buy and sell through the internet and project teams can collaborate from various countries. Location does not really play a significant role in your company's success or failure.
5.      A standard operating procedures (SOP), in fact, defines expected practices in all business where quality standards exist. SOPs play an important role in your small business. These are policies, procedures and standards you need in the operations, marketing and administration disciplines within your business to ensure success.
6.      Marketing may refer to the exchange activities conducted by individuals or organizations for the purpose of satisfying human wants with the view of accomplishing individual or organizational objectives
7.      In order to have an edge in the market, you should know where to position your business. You need to be at the right market for your product or service, offering it with a right price in a right place.
8.      Product refers to the exchange value on what the business establishment has to offer. In the context of business, it could either be a good or a service.
9.      Price refers to what you are willing to exchange with your product. Deciding on this requires a consideration of multiple pricing strategies, analysis of similarly priced products in your market, and insights from consumers through survey and focus groups.
10.      SWOT stands for Strength, Weaknesses, Opportunities, and Threats. Thus, SWOT Analysis is a technique for assessing these four aspects of your business.

Answer the following and explain thoroughly
1.      Imagine that you would want to put up a grocery store as a grocery shopping remains a necessity during this pandemic (COVID-19). How would you describe your company?
I would describe my company as a Safe Company. By simply doing and avoiding the following practices.
2.      What do you think are the necessary items to be considered when starting up a grocery store operation? How about the equipment and tools needed? Could you identify some?

The following questions relate to the marketing aspect of a feasibility study, answer what is asked thoroughly.
1.      How do you create marketing objective of a feasibility study?
2.      What are the four (4) Ps of marketing mix strategies that need to be studied in detail to effectively catch the attention of the market?
3.      Why is the study of competitors' analysis in the marketing aspect important?
4.      What are the processes to be considered to effectively come up with a SWOT analysis of the proposed business?
5.      Why is the marketing aspect called to be the lifeblood of a feasibility study?

The following questions relate to the technical aspect of a feasibility study, answer what is asked thoroughly.
1.      In creating a feasibility study, the technical aspect is one among the tedious part where you need to be knowledgeable in the conduct of the business operations and procedures to be able to complete it. As a baseline information you needed to complete the technical aspect, identify the different components of this part.
2.      What should be presented in the company description? Why do you think is the importance of this part in your technical aspect?
3.      Presentation of the vicinity map, floor plan/ lay-out is significant in the technical aspect.
4.      The pre-operating expenses including the regulatory fees and business permit taxes should be carefully analyzed and revealed in the technical aspect. What do you think is the importance of presenting this information in the feasibility study in the perspective of the investor?
5.      One among the current trend nowadays, is the disposal management in the technical aspect is important as this will prompt the reader and a prospected investor to identify the readiness of the proposed business to take responsibility of the wastes brought about by the business operation. What is your take on this?

Answer 1

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