Correct option is D
Introduction:
A marketing feasibility study comprehensively evaluates an idea's market viability by assessing demand, market structure, competition, and testing mechanisms to ensure commercial success. Correct answer: (d) (i), (ii), (iii) and (iv).
Information Booster:
(i) Current and future demand estimates: Essential first step involving quantitative forecasting of market size, growth trends, and sales potential using historical data, surveys, and econometric models.
Distinguishes viable opportunities by calculating market gaps (demand-supply differential) and projecting revenues over 3-5 years for investor confidence.
(ii) Market segmentation and identification of target markets: Breaks down the market into demographic, psychographic, geographic, and behavioral segments to pinpoint profitable niches.
Enables tailored strategies via STP (Segmentation, Targeting, Positioning), maximizing ROI by focusing resources on high-potential groups.
(iii) Competition analysis: Involves mapping direct/indirect rivals' strengths, market share, strategies, and gaps through Porter's Five Forces or SWOT.
Identifies competitive advantages like unique selling propositions (USPs) and barriers to entry, crucial for differentiation.
(iv) Market testing: Validates assumptions via pilot launches, focus groups, or A/B testing to measure real-world acceptance and refine offerings.
Reduces launch risks by simulating full-scale rollout, gathering feedback on price elasticity and preferences pre-investment.
English
10 Questions
20 Marks
12 Mins
