APSC 221 Chapter 14 Feasibility Analysis Questions with complete solution 2024/2025 APSC 221 Chapter 14 Feasibility Analysis
Feasibility analysis - correct answer the process of determining if a business idea is viable
4 key areas of a feasibility analysis - correct answer 1) product/ser...
APSC 221 Chapter 14 Feasibility
Analysis
Feasibility analysis - correct answer ✔the process of determining if a
business idea is viable
4 key areas of a feasibility analysis - correct answer ✔1) product/service
feasibility
2) industry/target market feasibility
3) organizational feasibility
4) financial feasibility
product/service feasibility is - correct answer ✔an assessment of the overall
appeal of the product or service being proposed. two key parts
product/service desirability and product/service demand
Concept test - correct answer ✔showing a preliminary description of a
product or service idea, called a concept statement, to industry experts and
prospective customers to solicit their feedback
3 common methods of assessing product/service demand - correct answer
✔-talking face-to-face with customers
-utilizing online tools to asses demand
-library, internet and gumshoe research
Industry/target market feasibility - correct answer ✔an assessment of the
overall appeal of the industry and the target market for the product or service
being proposed
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