3 years ago

What is the most important element of a feasibility study?

1 answer:

7 0

There are 5 elements of the feasibility study:
1) Description - of items or services offered, delivered, overview
2) Market feasibility - is there a market? is the market worth entering?
3) Technial feasibility - how service will be delivered
4) Financial feasibility - funding needed for product or service to launch, what will they make from the product or service
5) Organizational feasibility - legal aspect of the business

In this case, market feasibility is the most important element because if there isn't a desire or market for the product or service, there is no reason to enter that market. If a market is not being entered, funding, legal aspects and knowing how to advertise/deliver the product is not necessary.

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