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Es 223 module 3 part 2

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UNIVERSITY OF SOUTHERN MINDANAO Technopreneurship ES 223 Module 3 Module 3: Conducting a Feasibility Analysis and Designing a Business Model • Idea Assessment • Feasibility Analysis • Porter’s Five Forces Model • Product or Service Feasibility Analysis • Financial Feasibility Analysis • Developing and Testing a Business Model The Foundations of Entrepreneurship 2 Lecture 4: Product or Service Feasibility Analysis ILO 3: By the end of the learning experience, students must be able to: ✓Enumerate various methods of conducting primary and secondary market research Product or Service Feasibility Analysis 3 Product or Service Feasibility Analysis • A product or service feasibility analysis determines the degree to which a product or service idea appeals to potential customers and identifies the resources necessary to produce the product or provide the service. “Are customers willing to purchase our goods and services?” Product or Service Feasibility Analysis 4 Product or Service Feasibility Analysis • Conducting primary research involves collecting data first hand and analyzing it such as: 1. customer surveys 2. focus groups 3. construction of prototypes, in-home trials, and 4. “windshield” research (driving around and observing the competition). Product or Service Feasibility Analysis 5 Product or Service Feasibility Analysis 1. Customer surveys and questionnaires - Keep them short - Word your questions carefully so that you do not b ...
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