Iowa Proposed Public Opinion Survey to Determine Economic Feasibility of Revised Product

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Multi-State
Control #:
US-01092BG
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Word; 
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Description

In this form, a consultant is recommending that a public opinion and attitude survey be conducted to determine the proposed consumer acceptance of a new product of a manufacturer as compared to the product now being marketed by manufacturer. Consultant proposes that it be hired to do a public opinion survey to determine the economic feasibility of the revised product.

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FAQ

Economic Feasibility It also serves as an independent project assessment and enhances project credibilityhelping decision-makers determine the positive economic benefits to the organization that the proposed project will provide.

Definition: The economic feasibility step of business development is that period during which a break-even financial model of the business venture is developed based on all costs associated with taking the product from idea to market and achieving sales sufficient to satisfy debt or investment requirements.

To assess economic feasibility, one should:Identify costs and benefits of the proposed system.Assign values to the costs and benefits.Determine the cash flow of the project over the analysis period.Determine the project's net present value.Determine the project's return on investment.Calculate break-even point.More items...

A feasibility study is an assessment of the practicality of a proposed plan or project. A feasibility study analyzes the viability of a project to determine whether the project or venture is likely to succeed.

A project is economically viable if the economic benefits of the project exceed its economic costs, when analyzed for society as a whole. The economic costs of the project are not the same as its financial costsexternalities and environmental impacts should be considered.

Management can assess economic feasibility by doing the cost-benefit analysis, as well as using financial techniques, such as time value of money or break-even point analysis.

A bankable feasibility study is a study prepared with sufficient detail to allow a company to submit it to investors or lenders when seeking funding for a project.

During the economic feasibility step, the following activities must be completed:Develop a financial analysis that identifies break-even scenarios based upon unit prices, volume of sales, and costs.Determine whether the business opportunity presents sufficient profit margins to justify a business venture.More items...

Economic feasibility analysis is the process of determining whether a new venture is worth the cost and time investment. Economic feasibility analysis is the process of determining whether a new venture is worth the cost and time investment. It is also known as cost benefit analysis.

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Iowa Proposed Public Opinion Survey to Determine Economic Feasibility of Revised Product