Marketing Feasibility study

Marketing Feasibility study is written in order to know and identify the potential market and market competition. It is use as marketing tool to identify possible problems and obstacles for the implementation of new project or laughing new products or services. It should identify how things done including the sales projection and cost of the project.

Market feasibility study is used as assessment if the proposed business is going to be successful in terms of marketability. Such marketability includes the geographic location since market feasibility study also explains the importance of the business in the selected area. Proposed business proposal will be implemented based on the market feasibility study since it will evaluate the viability of a business proposal whether it will be success or failure.

Some elements of market feasibility study are current market including the market competition as well the expected future market potential.  Also, it included the prospective client and sources of income.

Market feasibility study is done through research such as having a questionnaire and surveys to know the status of the prospective client to know the exact need of the people in the area as well the demand of a certain product or services. It is a collection of information about the possible market that can be used in deciding how a product or services will be priced, delivered and marketed. In addition, don’t forget to collect information about the strengths and weaknesses of the competitors.

READ:  Generating Prospects