Unit 16 (a)

Question 1

What is a feasibility study ?

Answer 1

Analysis of ability to start and run a successful business
Taking in account: legal
Economic
Technological
Scheduling & other factors BEFORE investing too much time and money

Question 2

The definition of market feasibility study?

Answer 2

Investigation into probability or possibility that an idea has a chance of being successful

Question 3

What to look at for a market feasibility study?

Answer 3

How and if they work

Identify potential problems

Question 4

Feasibility studies on:



Answer 4

Ideas, campaign, products, processes, entire enterprises

Question 5

Feasibility studies assessment tools

Answer 5

Pros, cons analyze variety of potential enterprise scenarios

Question 6

What is the importance of conducting a feasibility study?

Answer 6

• List all things needed in detail
• identify possible problems
• develop marketing strategies
• develop business plan

Question 7

What are the AIMS of the market feasibility study?

Answer 7

To taste business ideas in terms of (customer needs/demands)

Market and competition

Financial position

Question 8

What are the components of a market feasibility study?

Answer 8

• Industry description
• Industry competitiveness
• market potential
• sales forecast
• access to market outlets

Question 9

What is an industry description?

Answer 9

-Size and scope
-future direction
- nature of industry
- lifecycle



Question 10

Conduct?

Answer 10

-where are your enterprise fits in
-changing market?
-goals of enterprise
– Challenges might face