ENTREPRENEURSHIP ASSIGNMENT: BUSINESS FEASIBILITY ANALYSIS
Cozzie Co., Ltd.
Bride coaching services
AMERICAN ACCREDITED PROGRAM - FOREIGN TRADE UNIVERSITY
T eam Name: C ozzie
T eam Name, Proposed Company Name, Names of Team Members,
Provide a two or three sentence introduction to identify your product or service, and the purpose of your report.
Phase 1: Product/Service Feasibi lity Analysis
Discuss how you assessed the o verall appeal of the product or s ervice being proposed. Analyze your results and discuss your conclusions. What did you learn? What dec ision have you made about your
product or service as a res ult of learning the information from your concept and usability tests?
Discuss how you tested our concept to validate the underlying premises behind your product/service by askin g prospective
customers and key industry participants what they think of your concept. Discuss if you used surveys, i nterviews, focus groups, or simply observed people perform tasks relevant to your
product or service. What did you lean? Include in the
a ppendix a copy of your questionnaire or survey questions, and well as your tabulated results.
Describe how you used the Concept Statement, who you
showed it to, and what you leaned. Include your Concept
Statement in the appendix.
(Caution: the Concept T est is NOT the same as the Usability T est!
Demonstrate that you understand the difference and have
indeed conducted two separate tests.)
Discuss how you conducted a usability test for your
product/service and the results you received. Did you ask
• What features of your product or service make it easy or difficult to use?
• How would potential customers use your product or service?
If you had a prototype or drawing describe it here. Discuss who y ou asked to participate in t he usability test, and what you h oped to learn. Once the usability test has been completed, what changes did you make to the product/service to increase its
u sefulness? Include a copy of your questionnaire or survey questions, as well as your tabulated r esults, in the Appendix. Marketability:
Explain how your product or service solves a problem, makes
someone's life or business more efficient, or makes someone's life or business more effective.
This should be determined by the results of your primary r esearch and your secondary research. Explain your answer by citing your sources that led you to your conclusions.
Target Customer Profile:
Who will MOST LIKELY use your products or services? More
specifically, exactly who will your customers (or target ma rket) be? Do market research to insure you fully understand the demographic and psychographic profile of your target customer. Cite your sources.
How, exactly, will your customers use your product or service? Provide an example of a potential customer, and describe exactly how he or she would use the product or service, and what benefits it would provide. Include an estimate of your potential market demand — what is your first year's sales forecast? Identify three estimates from no less than two difference sources. Refer to Suggested Approach to Research in this document.
Is your product or service protected by intellectual property rights? Do you have any patents and trademarks? ( www.uspto.gov) (See Chapter 12.)
First Mover Advantages:
Do you have a first -mover advantage? If so, explain what, if any, advantage that provides you. If you don't have a first mover advantage, what impact will this have on your company? Explain your answer.
Phase 2: Industrv/Market Feasibility Analysis
Discuss your assessment of the overall appeal of the market for the product or service being proposed.
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