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FEASIBLITY STUDY - Coggle Diagram
FEASIBLITY STUDY
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Market
Product
- Assessment of the overall appeal of the product/service being proposed .
- As anything that can be offered to a market for attention, acqusition, use, or consumption that might satisfy a need or want. (Kotler, 2008)
Service
- Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. (Kotler, 2008)
Customer
- Individuals and households, business organizations local as well as international and government organizations that buy product and services for consumption.
- Target markets for the organizations’ product or service.
- Target market defined as the group of customers with needs and wants that can be satisfied by the business through the supply of product/service.
Market Demand
- Total potential purchase that is expected from the target market. Normally it is expressed in units or Ringgit.
- Information on market demand is critical in determining the viability of a proposed product or service.
Competitors
- Other businesses that provide similar, substitute or alternative product/service to the same market segment.
- In competitors analysis, the business not only has to identify who are the major competitors but also the number of competitors in the market.
- Presence of competitors can affect immensely on the success of the business product/service that enter the market
Market Share
- Portion of the market that the business can control after taking into consideration market demand and the competitors’ position in the same market.
- Stated in the form of a percentage of total market demand.
Definition
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Preliminary evaluation of a business idea, conducted for the purpose of determining whether the idea is viable or worth pursuing
Be conducted to determine the viability of an idea before proceeding with the development of the business.
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Technical - Concerned with determining whether the business has the necessary technology and equipment to produce the intended product/service.
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Composition
1)Market Feasibility Study
2)Organisational Feasibility Study
3)Technical Feasibility Study
4)Financial Feasibility Study