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    Market Feasibility

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    Aseem1
    The document outlines the key steps and components of conducting a market feasibility study, including defining objectives, collecting secondary data, conducting market surveys, analyzing market characteristics, and developing a market plan. A market feasibility study evaluates the viability of a new product or service by analyzing customer needs, demand, pricing, competitors, and how to best market and distribute the offering. The study provides information to determine if a project is economically feasible in the target market.

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    Market Feasibility

    Uploaded by

    Aseem1
    17K views14 pages
    The document outlines the key steps and components of conducting a market feasibility study, including defining objectives, collecting secondary data, conducting market surveys, analyzing market characteristics, and developing a market plan. A market feasibility study evaluates the viability of a new product or service by analyzing customer needs, demand, pricing, competitors, and how to best market and distribute the offering. The study provides information to determine if a project is economically feasible in the target market.

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    Market Feasibility

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    The document outlines the key steps and components of conducting a market feasibility study, including defining objectives, collecting secondary data, conducting market surveys, analyzing market characteristics, and developing a market plan. A market feasibility study evaluates the viability of a new product or service by analyzing customer needs, demand, pricing, competitors, and how to best market and distribute the offering. The study provides information to determine if a project is economically feasible in the target market.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    17K views14 pages

    Market Feasibility

    Uploaded by

    Aseem1
    The document outlines the key steps and components of conducting a market feasibility study, including defining objectives, collecting secondary data, conducting market surveys, analyzing market characteristics, and developing a market plan. A market feasibility study evaluates the viability of a new product or service by analyzing customer needs, demand, pricing, competitors, and how to best market and distribute the offering. The study provides information to determine if a project is economically feasible in the target market.

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    Attribution Non-Commercial (BY-NC)
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    Download as pdf or txt
    of 14

    Market Feasibility Study

    By
    Sanjeev Acharya
    LOGO
    Roll No. 28
    What is Feasibility Study?
    Feasibility study is the process of determining the
    implement ability of the project

    ‘Feasibility study is the activities/efforts/analysis to


    measure the cost and benefit of a business in order to
    define the efficiency and effectiveness of the project’s
    methods and tools.’1

    According to Wikipedia ‘A feasibility study is a


    preliminary study undertaken to determine and
    document a project’s viability. It is an analysis of possible
    alternative solutions to a problem and a recommendation
    on the best alternative’
    1. Prasanna Chandra (2006), Projects: Planning, Analysis, Selection, Financing, Implementation and Review,
    India, Tata Mc Graw Hill
    Feasibility Study
    Ideally, the feasibility study involves making rational decisions about
    a number of enduring characteristics of a project, including:

    1. What exactly is the project?


    2. Economic feasibility
    3. Technical feasibility
    4. Schedule Feasibility
    5. Customer Profile
    6. Determination of competitive advantage
    7. Operational Feasibility
    8. Current market segments
    9. Vision/mission statement
    LOGO

    Technical
    Feasibility
    Financial
    Feasibility

    Types of Economic
    Feasibility
    Market
    Feasibility Feasibility

    Ecological
    Feasibility
    Legal &
    Administrative
    Feasibility
    Market Feasibility
    Market feasibility study is a logical study and a marketing plan about a
    course of action to be taken.

    ‘It studies the marketing viability of the project in terms of its ability to
    satisfy customers needs.’1

    Information be collected & analyzed during market feasibility:

    Unmet needs that could be addressed by a new product or service


    Overall demand for new products, services or ideas
    Characteristics of likely customers
    How competitors are likely to react when our product or service is
    introduced
    How your new product or service should be designed to best meet
    customers’ needs
    How best to market, advertise and communicate about product or service
    Likely barriers to successful introduction of your product or service
    1. Prof. Govind Ram Aggrawal (2008), Project Management in Nepal, Nepal, Ekta Publication
    Key steps in Market and Demand
    Analysis and their Inter-Relationships
    Collection of Demand
    secondary Forecasting
    Information

    Situation
    analysis & Characteristics
    specification of the Market
    of objectives

    Market
    Conduct of Planning
    Market
    Survey
    1. Situation Analysis & Specification of Objectives
    Before entering the market we should gather the following
    information:
    Who are the buyers of product?
    What are the current demand for product?
    How the market segment is selected?
    What will be the break even sales for different types of
    items?
    What prices are the customers willing to pay?
    In what basis the differentiation of product will be made as
    compared to different brands?
    How the products will be distributed to customers and what
    costs are incurred for it?
    Export and import trends
    Policies, Laws and Regulatory Initiatives in the Industry
    2. Collection of Secondary Data
    There are various sources of gathering secondary data like Census of India,
    National Sample Survey Reports, Plan Reports, Statistical Abstract of
    Indian Union, Indian Year Book, Economic Survey, Annual Survey of
    Industries, The Stock Exchange Directory, Publications of Advertising
    Agency, Industry Specific Sources and so on.

    Evaluation of secondary data is done on basis of :


    Who gathered the information?
    When was the information gathered?
    What was the objective?
    What was the target population?
    How was the sample chosen?
    How representative was the sample?
    How satisfactory was the process of information gathering?
    What was the degree of misinterpretation by respondent?
    How accurately was the information edited, tabulated and analyzed?
    Was statistical analysis properly applied?
    3. Conduct the Market Survey

    Total demand and rate of growth of demand of products.

    Demand in different segment of the market

    Income and price elasticity’s of demand

    Satisfaction with existing products

    Unsatisfied needs

    Attitude towards various products

    Distribution trade practices and preferences

    Socio-economic characteristics of buyers


    Various Steps of Conducting the Market Survey
    1 Define the target population

    2 Select the sampling scheme and sample size

    3 Develop the questionnaire

    4 Recruit the train field investigators

    Obtain information as per the questionnaire from the


    5 sample of respondents

    6 Scrutinize the information gathered

    7 Analyze and interpret the information


    4. Characterization of the Market
    Based on the information gathered from market survey and secondary
    sources the market for the product or services may be described in
    terms of the following:
    5. Market Planning

    Current Market Situation

    Opportunity and Issue Analysis

    Objectives

    Marketing Strategy

    Action Programme
    Bibliography

    Books:
    - Prasanna Chandra (2006), Projects: Planning,
    Analysis, Selection, Financing, Implementation and Review,
    India, Tata Mc Graw Hill

    Websites:
    -www.scribid.com
    - http://www.stingconsultants.com/pdf
    -http://www.slideshare.net/drobberecht/idea-
    feasibility-case-study-presentation
    -
    http://businesstoday.intoday.in/index.php?issueid=&id=1236
    &option=com_content&task=view&sectionid=4

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