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MBAB 5P23: Entrepreneurship

A guide to sources useful for researching and writing a business plan.

Product / Service Feasibility Analysis

clipboard with surveyStep 1. Design & Conduct Primary Market Research 

  • As part of your product/service feasibility analysis, you should conduct primary research with potential customers in order to assess the desirability of your new product/service idea, as well as evidence of likely demand. Examples of such research include concept tests and buying intention surveys. 

Secondary DataStep 2: Supplement Your Primary Research With Secondary Research

  • You can find additional evidence of likely demand by looking for information about the new product or service in business, industry, or news sources available from Library Databases or other online sources. 

1. Design & Conduct Primary Market Research

2. Find Evidence in Secondary Sources

Another method of assessing the demand for a product or service is to find articles written about the problem your proposed product or service is trying to solve. These articles may have been published online or in newspapers, business journals, or industry / trade magazines*

*Examples of Canadian trade magazines include:

Recommended Library News Databases:

Recommended Library Business Databases

Smart Google News Searching