Feasibility Study
Recommended length, 5-6 pages single-spaced.
This final examination contains the following three parts:
1) A Feasibility Study, Pet Elan: in your textbook pages 105-118; 2) your
analysis of the Feasibility Study; and, 3) your recommendation, whether or not
to proceed with completing a full business plan.
1. Please read
the feasibility study for Pet Elan in Katz & Green on pages 105-118.
2. Your
analysis. Please answer the following
questions citing course and text materials as appropriate. Please include the letter for each of your
answers, e.g. a) Strengths and Weaknesses, b) cost and value benefits, etc.
a. How would you
assess the strength and weaknesses of the Pet Elan business concept in terms of
solving a problem, filling a market gap, or responding to environmental
trends? Explain your choice(s).
b. Describe and
discuss the cost and value benefits of Pet Elan’s products and services to its
customers.
c. Based upon
the information provided, where is the pet food, care, and supplies in terms of
the industry life cycle, as described on page 198 in Katz& Green? Defend and support your answer with specific
examples and concepts from our text and course materials.
d. Pet Elan plans
to reach out to the traditional market of customers but also has identified
newer niche markets such as seniors, young unmarried persons, middle aged
couples who are married but have no children.
What is your assessment of this market penetration strategy? What are
its strengths or weaknesses? What other niche markets would
you recommend and why?
e. What is your
assessment of Randy Miller’s ability to startup and operate Pet Elan? Randy
estimates that he needs $70,000 in start-up capital. Is this amount sufficient? Why or why not?
f. Assess the
strengths and weaknesses of Pet Elan’s pricing strategies?
g. What is your
overall assessment of Pet Elan’s projected three year net profit goals? Are they pessimistic, optimistic or
realistic? Support your answer with specific examples.
3. Would you
recommend that Randy Miller proceed to developing a full business plan? Why or
why not. Support your recommendations
with specific examples.
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