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Feasibility Analysis
Adapted From “Preparing Effective Business Plans” by Bruce R. Barringer

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First assignment Due: October 5th, 2012 (at 11:55pm).
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Instructions: For this first assignment, you must complete the introduction and parts 1 and 2 of this report.

Introduction:
A. Name ofthe proposed business
B. Name of the founder (or founders)
C. One paragraph summary of the business:
a. Layout the unique selling proposition: What is the pain that your product/service is relieving? What is the problem that your product/service is solving?
b. Elevator Pitch

Part 1: Define Target Market
A. Identify the group of customers that may respond positively toyour business idea.
To identify that group use different variables: Geographic, Demographic (i.e. Age, Gender, Occupation, NSE, Education) and if possible psicographic.
B. Define the profile of your customer: For instance, you may explain the following:
a. How does he feel and think? (What really matters to them?)
b. What does he say and how does he behave?
c. What doeshe watch or see? (how is the environment in which he lives? Who are his friends? What tv-programs does he watch? And what types of offers captures his attention)
d. What does he listen regularly? What radio stations does he listen? Which programs? Who influence his opinions?

Part 2: Product/Service Feasibility
Issues Addressed in This Part
A. Product/service desirability (ConceptStatement test- See model in Page 83).
B. Product/service demand

Assessment Tools

Concept Statement Test
* Write a concept statement for your product/service idea. Show the concept statement to 5 to 10 people. Select people who will give you informed and candid feedback (In the concept statement test you need to use the concept statement shown in page 83 in your book).
* Attacheda blank sheet to the concept statement, and ask the people who read the statement to (1) tell you three things they like about your product/service idea, (2) provide three suggestions for making it better, (3) tell you whether they think the product or service idea is feasible (or will be successful), and (4) share any additional comments or suggestions.
* Summarize the information you obtainfrom the concept statement into the following three categories:
* Strengths of the product or service idea—things people who evaluated your product or service concept said they “liked” about the idea
* Suggestions for strengthening the idea—suggestions made by people for strengthening or improving the idea
* Overall feasibility of the product or service concept—report thenumber of people who thing the idea is feasible, the number of people who think it isn’t feasible, and any additional comments that were made
* Other comments and suggestions

Buying Intentions Survey: Here you need to use a one/two paragraph concept statement. The one shown in the PPT.
* Distribute the concept statement to 15 to 30 prospective customers (do not include any of the peoplewho completed the concept statement test) with the following buying intentions survey attached. Ask each participant to read the concept statement and complete the buying intentions survey. Record the number of people who participated in the survey and the results of the survey here.
* Along with the raw data recorded here, report the percentage of the total number of people you surveyed thatsaid they would probably buy or definitely would buy your product or service if offered. This percentage is the most important figure in gauging potential customer interest.
* One caveat is that people who say that they intend to purchase a product do not always follow through, so the numbers resulting from this activity are almost always optimistic. Still, the numbers provide you with a...