An analysis that determines the degree to which a product or service idea appeals to potential customers and identifies the resources necessary to produce the product or provide the service is referred to as ________.
A)product or service feasibility analysis
B)business prototyping
C)business plan analysis
D)financial feasibility analysis

Question

Quizplus · Accepted Answer

A product or service feasibility analysis evaluates the potential success of an idea based on factors such as market demand, competition, and resource requirements. This analysis helps entrepreneurs determine whether it is worth pursuing a particular idea and what resources they will need to bring it to market. Business prototyping involves creating a basic version of a product or service to test its viability, while a business plan analysis evaluates the overall strategy and financial projections for a company. A financial feasibility analysis focuses specifically on the financial viability of an idea, rather than its overall market potential.

An Analysis That Determines the Degree to Which a Product