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Exam 4: Conducting a Feasibility Analysis and Designing a Business Model

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Question 31

Multiple Choice

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Generally, an industry is more attractive when ________.

A) the number of competitors is large
B) competitors are similar in size
C) the industry is growing at a fast pace
D) the opportunity to sell a differentiated product or service is present

E) A) and C)
F) All of the above

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Question 32

Multiple Choice

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Which of the following is not a macro force that creates change in industries?

A) Sociocultural
B) Economic
C) Technological
D) Entry barriers

E) C) and D)
F) B) and D)

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Question 33

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Specialized knowledge is an example of a barrier to entry.

An effective tool used to help assess ideas is the idea sketch pad.

A venture must produce an attractive rate of return relative to the level of risk it requires.

The Business Model Canvas consists of six elements.

Time out of cash is relevant to ________ analysis.

Printed newspapers have seen their readership rates decline as new generations of potential readers turn to their iPads and smartphones for sources of news. This is an example of ________.

What are some of the most important questions a feasibility analysis answers and what model may be of value in this process?

How does primary research differ from secondary research?

Ideally, a focus group should have ________ members.

Time out of cash is one of the four major elements included in a financial feasibility analysis.

A product or service feasibility analysis determines the degree to which a product or service idea appeals to potential customers and identifies the necessary resources.

Generally, an industry is more attractive when the items suppliers provide the industry account for a relatively high portion of the cost of the industry's finished product.

New entrants to an industry can erode existing companies' market share and profits.

A product feasibility analysis answers the question, "Are customers willing to purchase our goods and services?"

In designing customer surveys it is a good idea to keep them short.

One of the cautions with a niche strategy is that niches change.

Getting traffic counts at local competitor outlets is an example of ________ research.

Asking the question, "Is this idea right for me?" is part of the process of assessing ________ feasibility.