Feasibility analysis

• Economie
• Secondary Education

Brainstorm

Things you need to do before you start a business.

Answer here

Chapter 5

Section 1: Feasibility Analysis: Testing an opportunity

Pages  104- 111

Objectives

Describe business concept

Analyze the components of business concept

Discuss the writing of a concept statement

 A business concept is a clear and concise description of an opportunity.

What is a business concept?

Give example of a business concept.

Questions to be answered before you start a business

What is the product or service being offered?

Who is the customer? 

What is the benefit that is being provided? 

How will the benefit be delivered to the customer?

What are the components of business concept?

 Business concepts contains four key elements: the

product or service, the customer, the benefit, and the distribution.

Its purpose is to focus your thinking.

What is something that promotes or enhances the value of the product or service to the customer?

1. Features
2. Business Concept
3. Target customer
4. Benefits

What is by contrast, is a distinctive aspect,
quality, or characteristic of a product or service?

1. Delivery
2. Benefit
3. Feature
4. Target customer

Who would be the target customer for a house-cleaning service?

Generate ideas for an after school dog-walking service. Think of
all the competitive advantages of the service. Consider the disadvantages. What things should students consider to help ensure success for
the venture?

Example of concept statement

O2 Max Fitness is the first fitness club designed exclusively for teens,

providing a conv enient neighorhood location where teens can achieve their

health and fitness goals. Parents will enjoy peace of mind knowing that their

child is spending after-school time in a safe place

Write the concept statement for your business.

Main terms of the lesson.