Quiz #2 - Feasibility Study

A market feasibility study's primary objective is to analyze the market and determine whether there is sufficient demand for the business to succeed.

• A. True

• B. False

Before you begin any sales and marketing functions you do not have to develop a strong knowledge of the market by preparing a market description.

• A. True

• B. False

3-4. Give atleast 2 factors that affects demand

Marketing strategy is also known as...

• A. Promotion

• B. Market strategy

• C. Marketing mix

• D. 4P's

It is the tool used by the proponents to inform potential respondents about the information they need, encourage accurate responses, and produce data in a form that is useful for analysis.

• A. Business Plan

• B. Survey Questionnaire

• C. Feasibility Study

• D. Target Market

In making survey questionnaires, you can use figurative language and imagery.

• A. True

• B. False

It refers to a specific subset of individuals and/or organizations that need your product or service and are most likely to patronize your business.

• A. Buyers

• B. Consumers

• C. Target market

• D. Customers

What is the focus of the chapter II in feasibility study?

10-12. Identify and explain the 3 types of survey questionnaires.

13-15. Why do we need to cover the 4Ps when conducting survey?