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Feasibility Studies are used to identify problems and opportunities, determine specific objectives, provide information on specific situations, define successful outcomes and assess the range of costs and benefits associated with alternative business strategies.
Feasibility Studies are heavily dependent on Market Research and the results from the study are used in the formation of a Business Development Plan. Typically, a feasibility study is used to determine a market’s viability and sustainability, provide an assessment of the market and determine the technical viability of a new product or service, business or management model.
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