3. Feasibility Study & Business Models (Lessons 4 & 5) Flashcards
What is the focus of Market Feasibility?
Assessing demand, competitors, and pricing
Key questions include: Is there demand? Who are the competitors? What pricing will the market bear?
What tools are commonly used in Market Feasibility?
Surveys, focus groups, competitor analysis
These tools help gather data on market conditions and customer preferences.
What are the 4 components of a Feasibility Study?
Market
Technical
Operational
Financial
What does Technical Feasibility evaluate?
The ability to develop the product/service with available technology
It also considers necessary skills and equipment.
What is assessed in Operational Feasibility?
The efficiency of business operations
This includes supply chain, staffing, and location considerations.
What are the key questions in Financial Feasibility?
Funding needs, projected revenues & expenses, break-even point
These questions determine the financial viability of a business.
What does the Value Proposition block in the Business Model Canvas address?
The problem the product/service solves
It defines the unique value offered to customers.
Who are included in the Customer Segments block?
Potential buyers of the product/service
Identifying customer segments is crucial for targeted marketing.
What is the purpose of the Channels block in the Business Model Canvas?
To outline how the product/service will reach customers
This includes distribution and communication methods.
What do Revenue Streams refer to in the Business Model Canvas?
How the business will generate income
This includes various ways to monetize the product/service.
What are Key Resources in the Business Model Canvas?
Critical assets necessary for business operations
These can include physical, intellectual, human, and financial resources.
What are Key Activities in the Business Model Canvas?
Essential tasks the business must perform well
These activities are vital for delivering the value proposition.
What do Key Partnerships entail in the Business Model Canvas?
Essential allies for the business
Partnerships can include suppliers, collaborators, and strategic alliances.
What is the Cost Structure block in the Business Model Canvas?
Overview of major expenses
Understanding costs is essential for financial planning and sustainability.
