“If you keep doing what you’ve always done, you’ll keep getting what you’ve always got.”
A market feasibility study is an assessment of the practicality of a proposed project or system. A market feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the natural environment, the resources required to carry through, and ultimately the prospects for success.
Finding out and mapping the overall potential market volume.
Competitive bench marking is the practice of comparing business processes and performance metrics of other competitor companies.
Understanding what has happened in the past to give an idea of what will happen in the future.
Overall analysis of an industry's economic and market status.
Research on bringing in of products or services into the target market.
Research on all obstacles and roadblocks that prevent new entrants from easily entering an industry or area of business.
Understanding how consumers select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants.
Analyzing how to establish the image or identity of a brand or product so that consumers perceive it in a certain desired way by examining the market conditions.
Assessment of the total demand for a given product or service.
Measure of how well a proposed system solves the problems.
Studying the viability, cost, and benefits associated with a project before financial resources are allocated.
Studying the technical, legal & environmental aspects related to a business.