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mne2601 assignment 3 product feasibility analysis
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- University Of South Africa (Unisa)
mne2601 assignment 3 product feasibility analysis
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BMZ AcademyFeasibility analysis of a business idea: Integrated Subsistence Horticulture
Product/Service feasibility
Integrated Subsistence Horticulture is a business initiative ignited by young people in
Limpopo Province. The initiative will be 100% owned by young people within the
marginal areas of Limpopo province. Strategic partnerships on service and distribution
will be established with established retailers such as Shoprite, Woolworths, Pick n Pay,
Foodlovers and other small scale retailers around the province.
Aim
This initiative seeks to commercialise and create market for produces of young people
in Limpopo Provinces. Due to subsistence level of operation, young people in the
province have failed to draw meaningful value from their activities and this has been
partly due to lack of structural and funding support as well as absence of enterprise
skills. The initiative thus seeks to pool the resources of these young people, joint create
market for their products as well as bringing together skills among them. To the
consumers, the initiative will increase availability of affordable goods.
Steps
A call will be made to different you people in the province for the initiative. Each young
person will contribute arable land of at least half a hectare with the target of a minimum
of 100 hectares in total. This land will be registered as common pooled resource and
an assessment will be made of the possible horticulture products to be produced.
Members with specialist skills such as agronomy, bookkeeping and others will be
identified, and gaps will be filled by external members whose contribution will be
denominated in their services. Market research will be conducted to determine if there
is a need for this venture however as well as the proposed product. A concept test will
be undertaken as well and develop the model. The feedback gathered will be used to
determine whether or not to proceed with the business idea.
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
, BMZ Academy
Components
The initiative will be inputted with land, facilities, equipment, skills and logistics among
others. However, before these inputs are committed, the entrepreneurs will check the
desirability and the willingness of the target members to join.
Primary research
Data will be collected using surveys and questionnaires. Focus groups will also be
used by enlisting a small number of potential members to give feedback on what is
liked or disliked about the initiative and how ca it be implemented.
Concept statement
The business idea being proposed here is a pooled enterprise that will be started
without the commitment of financial resources but other inputs namely land, labour,
enterprise and capital. Members will register to partner in the business and be part of
the initiative.
Prototype
After conducting a concept test, a prototype model of the services will be developed.
The prototype is the first depiction of the new venture; it is a model of the eventual
venture and is designed so that potential members can see what the final venture
could look like and how it is likely to work. The model will be given to potential members
to use in order to get feedback on the venture.
Type of industry
The initiative will be taken in the agriculture industry. This industry is never flooded
although it goes through seasonal fluctuation. There are no barriers to entry hence
new players can enter without serious barriers. Incumbent do not have monopoly in
the industry and information flows perfectly.
BMZ ACADEMY 061 262 1185/068 053 8213/0717 513 144
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