BUSMHR 3510.01 Lecture Notes - Lecture 9: Cable Television
5 Apr 2016
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Build a better mouse trap & they will come ~ not true feasibility analysis. Should do it right away to see if the idea will pass the feasibility test. Most entrepreneurs don"t do it because they think they can"t fail, just need to do it role of feasibility analysis proposed business venture > spending necessary time : product/service feasibility analysis: Assessment of the overall appeal of the product or service being proposed. Before a prospective film rushes a new product or service into development, it should be sure that the product or service is what prospective customers want. Answer the questions of needs vs wants, want to have a product thats a need, unless it"s a compelling want: industry/target market feasibility: Attractiveness of the industry you"re dealing with is important. New industry: going through daily life & realize there"s something you really need but does not yet exist . Ex of new industries: drones, search engines, streaming tv, social media.
