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UNIT 2
               MODULE 2:  NEW VENTURE PLANNING AND CREATION (cont’d)


               CONTENT

               1.      Market Research (venture opportunity screening)

                       (a)    Purpose of market research.

                       (b)    Benefits of conducting market research.

                       (c)    Key elements of market research:

                              (i)    product characteristics;

                              (ii)   definition of market;

                              (iii)   expected sales trends;

                              (iv)   customer analysis;

                              (v)    promotional strategy; and,

                              (vi)   nature and level of competition.

                       (d)     Cost-benefit analysis approach to market research.


               2.      Feasibility Analysis

                       (a)    Purpose of a feasibility analysis.

                       (b)    Benefits of a feasibility analysis.

                       (c)    Key elements of a feasibility analysis:


                              (i)    personality feasibility (individual’s SWOT profile);

                              (ii)   management feasibility;


                              (iii)   operational feasibility;

                              (iv)   financial feasibility;

                              (v)    marketing feasibility;


                              (vi)   time feasibility;

                              (vii)   industry feasibility; and,




                                  CXC A31/U2/13           24                                 www.cxc.org
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