Think Positive Research

The importance of Customer satisfaction

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Customer satisfaction is a marketing term that measures how products or services supplied by a company meet or surpass a customer’s expectation. Customer satisfaction is important because it provides marketers and business owners with a metric that they can use to manage and improve their businesses. 1. It’s a leading indicator of consumer repurchase intentions and loyalty Customer satisfaction is the best indicator of how likely a customer will make a purchase in the future. Asking customers to rate their satisfaction on a scale of 1-10 is a good way […]

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The Importance of a Feasibility Study

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Feasibility studies are focused and specific. They start with question — asking whether the idea, event or action is a viable solution — and force you to focus solely on that question to the exclusion of everything else, drilling down to explore possible outcomes. A feasibility study is not the same as a business plan. A feasibility study is an investigative tool that might cause you to discount an idea, whereas a business plan is call to action. You can, in fact, use a feasibility study as a predecessor to […]

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The Elements of a Good Feasibility Study

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A Feasibility Study is a formal project document that shows results of the analysis, research and evaluation of a proposed project and determines if this project is technically feasible, cost-effective and profitable. The primary goal of feasibility study is to assess and prove the economic and technical viability of the business idea. A project feasibility study allows exploring and analysing business opportunities and making a strategic decision on the necessity to initiate the project. For each project passing through the Initiation Phase, a feasibility study should be developed in order […]

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Feasibility study or Business Plan, what is the differences?

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Are you thinking of starting a business? What should you do first: create a business plan or undertake a feasibility study? What is the difference? A feasibility study, or business opportunity analysis, is a planning tool similar to a business plan. The feasibility study is done to flesh out the possibilities in an initial business idea. The business plan then fully describes the business and its financial projections. A feasibility study is not the same thing as a business plan. The feasibility study would be completed prior to the business […]

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What is a Feasibility Study and When to Do it ?

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What is a Feasibility Study? As the name implies, a Feasibility study is an analysis of the viability of an idea. The feasibility study focuses on helping answer the essential question of “should we proceed with the proposed project idea?” All activities of the study are directed toward helping answer this question. Feasibility studies can be used in many ways but primarily focus on proposed business ventures. Farmers and others with a business idea should conduct a feasibility study to determine the viability of their idea before proceeding with the […]

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