Homework Help is Here – Start Your Trial Now!
Business
Marketing
Key Question: Is this a service or product that customers will buy? • What are the direct benefits to the customer? Approximate the best you can anticipate the size of the market? • Where are customers getting the product now?

Key Question: Is this a service or product that customers will buy? • What are the direct benefits to the customer? Approximate the best you can anticipate the size of the market? • Where are customers getting the product now?

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
See similar textbooks
icon
Related questions
Question
If we have selected a problem and it is climate change which is affecting our environment and we are thinking about a product which is (Water conservation technologies such as drought-resistant crops and greywater systems address the problem of water scarcity, which is an issue that is being exacerbated by climate change) Now we need to answer the following questions on our product shown in the image.
Market Feasibility Key Question: Is this a service or product that customers will buy? What are the direct benefits to the customer? Approximate the best you can anticipate the size of the market? Where are customers getting the product now? Why would they purchase from us? • Is the industry that the business falls within, large and growing? (Favourable) Technical Feasibility Key questions to answer: Can it be done and should it be done? Are the core technologies available? (Have, develop or get) Are there any laws or regulations against this business concept? Are there moral or ethical issues that need to be considered? ● Human Resource Feasibility Key Question: Is this the right business for me? • Do our skills and abilities fit the business? • What are the skills needed that we don't have? Who would we need to hire?
Transcribed Image Text:Market Feasibility Key Question: Is this a service or product that customers will buy? What are the direct benefits to the customer? Approximate the best you can anticipate the size of the market? Where are customers getting the product now? Why would they purchase from us? • Is the industry that the business falls within, large and growing? (Favourable) Technical Feasibility Key questions to answer: Can it be done and should it be done? Are the core technologies available? (Have, develop or get) Are there any laws or regulations against this business concept? Are there moral or ethical issues that need to be considered? ● Human Resource Feasibility Key Question: Is this the right business for me? • Do our skills and abilities fit the business? • What are the skills needed that we don't have? Who would we need to hire?
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
Recommended textbooks for you
Principles Of Marketing
Principles Of Marketing
Marketing
ISBN:
9780134492513
Author:
Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:
Pearson Higher Education,
Marketing
Marketing
Marketing
ISBN:
9781259924040
Author:
Roger A. Kerin, Steven W. Hartley
Publisher:
McGraw-Hill Education
Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing: An Introduction (13th Edition)
Marketing
ISBN:
9780134149530
Author:
Gary Armstrong, Philip Kotler
Publisher:
PEARSON
MKTG 12:STUDENT ED.-TEXT
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:
9781337407595
Author:
Lamb
Publisher:
Cengage
Contemporary Marketing
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS