Market Research

  • Understanding barriers to entry for new business is critical to be successful both in the short and long run. While current businesses can leverage from this barrier, overcoming regulations, interventions, costs, and competitive advantages needs to be strongly considered in order to profit.
  • Content will include various barriers to entries pertaining to each industry, ways of facilitating and mitigating certain barriers, and various other resources to get insight.

 

Source: iastate.edu, Date retrieved: August,13,2014.

The Market Expansion step is that period when a company assesses current markets, identifies untapped markets, and seeks opportunities for revenue growth through new market opportunities. The market expansion step will result in estimates for delivering new capabilities to current markets, and potential new markets for existing products.

  • Writing a questionnaire can be as simple or as complicated as you want it to be. It really depends on the information you want to collect and the significance of the decision that it’s going to help you make. The three main components are establishing the survey objectives, writing content, and piloting the questionnaire.
  • Content will include information in formulating questionnaires, sample templates, and other various resources on the benefits of having questionnaires in a business.

Sample user survey template

 

Source: www.kirklees.gov.uk, Date retrieved: August,13,2014.

  • The feasibility study is a process of objective and rational investigations that checks the strengths, weaknesses, opportunities, and threats of existing or proposed business models. The two main factors that determine this are cost required for business and Value that will be attained in the short/long run.
  • Content will include templates for doing and implementing feasibility studies and pros/cons for this study

 

Source: togetherworks.org.uk, Date retrieved: August,14,2014.