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WorksheetsUnit 7-Feasibility Study
Total questions: 60
Worksheet time: 38mins
Which of the following is not the purpose of Feasibility Study?
Provide quality information for decision making
Establish market trends
Give focus to the project and outline alternatives
Specify business alternatives
Which of the following is included in the composition of feasibility study?
Financial Feasibility Study
Demographic Feasibility Study
Physical Feasibility Study
Resources Feasibility Study
Which of the following is not true about Target Market?
Can be individuals, households, business organizations local as well as international and government organizations
The group of customers with needs and wants that can be satisfied by the business through the supply of product/service.
Involve determining who are the customers the business wishes to serve
Participate as representative in Feasibility Study
Which of the following is among the aspects of technical feasibility study?
Demand
Location
Security
Instruction
Which of the following is not the expectation of a A feasible or viable event idea?
Withstand the risks it will encounter
Generate adequate cash flow and profits
Remain viable in short period
Meet the goals of the founders
1) ________ is the process of determining whether an event idea is viable.
A) Feasibility analysis
B) Opportunity recognition
C) Viability analysis
D) Achievability analysis
E) Scenario analysis
10) ________ feasibility analysis is a quick financial assessment of the viability of an event idea.
A) Organizational
B) Institutional
C) Product/service
D) Financial
E) Industry/market
When you have a feasible concept, the next step is to develop a/an__________________.
business plan
financial analysis
feasibility analysis
industry
____is the process of determining whether an event idea is viable. It is the primary evaluation of the business.
Feasibility Analysis
Business Plan
Howard Plan
None of the Above
The financial plan presents ______ for the future of the company.
forecasts
finances
trends
studies
Questions related to industry, customers, product & service requirements, founding team, competition, start up resource needs and the value chain fall under the:
Feasibility Analysis
Business Model
Business Concept
Target Market
All the things needed for an event to work are ___.
resources
role
organization
goal
The above statement describe one of the 4 feasibility assessment done by a System Analyst. what is the feasibility assessment about?
A ________________________ establishes the scope and purpose of a company and reflects its values and beliefs.
executive summary
vision statement
mission statement
Planning for profits includes:
Forecasting sales
Evaluating profit potential
Controlling costs
Budgeting
All of the above
2) ________ research is research that is collected by the person or persons completing the analysis. ________ research probes data that is already collected.
A) Primary, Derivative
B) Secondary, Primary
C) Primary, Secondary
D) Indirect, Direct
E) Direct, Indirect
3) Talking to industry experts, obtaining feedback from prospective customers, and administering surveys are examples of ________ research.
A) primary
B) secondary
C) derivative
D) principal
E) fundamental
4) Trade journals, industry-related publications, government statistics, and competitors' Web sites are examples of ________ research.
A) secondary
B) action
C) principal
D) legacy
E) vertical
5) ________ feasibility is an assessment of the overall appeal of the product or service being proposed.
A) Consumer
B) Industry/market segment
C) Industry/market
D) Product/service
E) Purchaser/end-user
7) A(n) ________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.
A) concept test
B) product/service statement
C) impression test
D) idea prospectus
E) idea test
8) A(n) ________ is a group of firms producing a similar product or service. A firm's ________ is the limited portion of the industry that it goes after or to which it wants to appeal.
A) target market; industry
B) trade group; industry
C) industry; trade group
D) competitive group; target market
E) industry; target market
9) ________ feasibility analysis is an assessment of the overall appeal of the industry and market for the product or service being proposed.
A) Institutional
B) Financial
C) Organizational
D) Product/service
E) Industry/target market
Finish the sentence correctly. Market research is the process of......
marketing your goods or services
gathering, and analysing information concerning a specific market
selling your goods or service to the maximum number of customers
developing marketing materials
Gathering information is what step in the Market research process?
4
3
2
1
How many steps are there in the basic market research process?
1
2
3
4
Identifying what information is need to make a decision about the potential of an event is what step in the market research process?
2
4
1
3
The features of a market into which a new good or service is to be introduced is called
market competitors
market conditions
market complications
market containers
An assessment of the practicality and potential for success of a proposed event idea is called a
feasibility station
feasibility situation
feasibility statement
feasibility study
Why is market research important?
to help you make a profit
to ensure the product produced is likely to satisfy the consumer
to ensure you acheive the highest share of the market
to ensure you are better than the competitor
Government reports would be which kind of market research?
Field Research
Quantitative Research
Desk Research
Target research
Which one is field research?
Marketing website
Online survey
Government reports
School website
What is not an advantage of a questionnaire?
They are reliable
They are always up to date
They are accurate
They are published (normally for free)
Which ones are field research?
EPOS
Observations
Online surveys
Market research report
How can an entrepreneur learn about and understand the industry related to their idea for a new event?
Take a class or course related to the industry.
Read books and journals about the industry.
Interview people who currently work in the industry.
All of these are correct.
The company should profile the potential customers for the new event. This means that the company should determine (to the degree possible) the typical customer’s:
age & gender
income level
education level
all of these are correct
What is primary research also known as?
Desk Research
Field Research
Independent Research
Group Research
What type of data involved numbers and figures?
Quantitative
Qualitative
Which type of data involves people's feelings and opinions?
Quantitative
Qualitative
Which of the following is NOT an example of primary research?
Focus Groups
Questinnaires
Observations
Newspapers
True or False: Primary research can be very expensive and time consuming.
True
False
True or False: market research does not help a business find market opportunities.
True
False
Which two of the statements are advantages of market research?
Helps a business understand customers and competitors
It can be very time consuming
It could be difficult to analyse
Helps a business create targeted marketing
Which two of the following statements are disadvantages of primary research?
Many people don't like completing surveys
You can find specific information
Some people just say what they want you to hear
The business has control over the research and results
Which of the following best defines primary market research?
It is data collection that always produces quantitative data
It uses information that has already been collected
It is also known as desk research
It gathers original data by contacting consumers directly
