Exam 3: Feasibility Analysis

A/B split testing, landing pages, prototyping services, and Web site usability testing are all online tools available to assist in the ________ stage of developing a business idea.

Describe the purpose of feasibility analysis. When should a feasibility analysis be conducted relative to opportunity recognition and the development of a business plan?

A(n) ________ team is the group of founders, key employees, and advisers that either manage or help manage a new business in its startup years.

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 ________ is a single Web page that typically provides direct sales copy, like "click here to buy a Hawaiian vacation."

The two components of product/service feasibility analysis are product/service ________ and product/service ________.

According to the textbook, the only way to know if your product or service is what people want and need is by ________.

Industry/target market feasibility is an assessment of the overall appeal of the industry and the target market for the product or service being proposed.

________ feasibility analysis is conducted to determine whether a proposed business has sufficient management expertise, organizational competence, and resources to successfully launch its business.

A(n) ________ involves showing a preliminary description of a product or service idea to prospective customers to gauge customer interest, desirability, and purchase intent.

The most important issues to consider in financial feasibility analysis are: financial performance of similar businesses, total cash needed, and ________.

Owlet Baby Care, the company profiled in the opening feature of Chapter 3, produces a "smart sock" that can be used to monitor a baby via an app. The feature describes how Owlet Baby Care's founders accidentally validated their business idea when ________.

First Screen is a template for completing industry analysis.

Organizational feasibility analysis is conducted to determine whether a proposed business venture has sufficient management expertise, organizational competence, and resources to successfully launch its business.

The four forms of feasibility analysis include: product/service feasibility, industry/target market feasibility, organizational feasibility, and financial feasibility.

The focus in organizational feasibility analysis is on ________.

Which of the following is incorrect regarding the "total startup cash needed" component of financial feasibility analysis?

Katlin Smith is investigating the feasibility of developing an iPhone app to help high school students with math. To get a good handle on the potential demand for her service, Katlin is scrounging around for information wherever she can find it. She even spent two weeks volunteering as a math tutor at a local high school to see how students responded to her methods. Katlin is conducting ________ research.

Product/service feasibility analysis is an assessment of the overall appeal of the product or service being proposed.

The Savvy Entrepreneurial Firm feature in Chapter 3 focuses prototyping. According to the feature, a prototype is ________.