ENTREPRENEURIAL OPPORTUNITIES
FEASIBILITY ANALYSIS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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“Get out of the building” and talk to potential customers
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Surveying potential customers
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Library research
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Analyzing industry attractiveness
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Detailed explanation-1: -Explanation: Product and service feasibility is an internal factor of the company.
Detailed explanation-2: -As part of your product/service feasibility analysis, you should conduct primary research with potential customers in order to assess the desirability of your new product/service idea, as well as evidence of likely demand. Examples of such research include concept tests and buying intention surveys.
Detailed explanation-3: -There are four main elements that go into a feasibility study: technical feasibility, financial feasibility, market feasibility (or market fit), and operational feasibility.
Detailed explanation-4: -The two components to product/service feasibility analysis are product/service desirability and total startup funds needed.