APSC 221 Chapter 14 Feasibility Analysis Questions with complete solution 2024/2025

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/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 propo