COMM 320 Lecture Notes - Lecture 2: Ebay, Target Market
26 Jan 2017
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Week 2 chapter 3 feasibility analysis: what is a feasibility analysis: Feasibility analysis is the process of determining whether a business idea is viable. Screen ideas before you spend too many resources on them. Considering four main areas: areas of feasibility analysis/how to identify if an idea is feasible how to apply, product/service feasibility: Purpose: assessment of the overall appeal of the product of service being proposed. Target market attractiveness target market: the limited portion of the industry the firm plans to go after. Challenge is finding a market large enough to make it attractive but small enough to avoid attracting larger competitors. Steady and rapid growth in sales during the first 5 to 7 years in a clearly defined market niche. High percentage of recurring revenue-meaning that once a firm wins a client, the client will provide recurring sources of revenue. Ability to forecast income and expenses with a reasonable degree of certainty.
