Conduct a viability study on a business opportunity on bottled water. Briefly explain what a viability study is and why it is important to do one when starting a business Explain about or describe the business opportunity you have foreseen or heard about. (You could include that you have already done a feasibility study). Conduct a viability study – explain step by step how you will do this. Do a needs analysis - Assess if there is a need for the product or service you want to offer Customer Profile - Find out about the people who are most likely to buy your products/services. Do a customer profile or characteristics of potential customers
Conduct a viability study on a business opportunity on bottled water.
Briefly explain what a viability study is and why it is important to
do one when starting a business
Explain about or describe the business opportunity you have
foreseen or heard about. (You could include that you have
already done a feasibility study).
Conduct a viability study – explain step by step how you will do
this.
Do a needs analysis - Assess if there is a need for the product or
service you want to offer
Customer Profile - Find out about the people who are most
likely to buy your products/services. Do a customer profile or
characteristics of potential customers
Mission and objectives – With the information obtained from the
needs analysis and customer profile, outline the mission and
objectives of the enterprise. Remember that the Objectives
should be SMART(Specific, Measurable, Attainable, Realistic,
Time-specific )
Calculate the market share – Once you are certain of the
mission and objectives of the enterprise, then calculate the
market share of the enterprise (target market, expected market
share, total market potential, income. see examples in guide)
Competitors Analysis – Analyze the competitors of your business
and decide on how to compete with them (SWOT analysis).
Once you have done all the above with regards to the business,
then you will be able to know if the business will be profitable.
This should be stated
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