Author Question: Describe the purpose of industry/target market feasibility analysis, and identify the two primary ... (Read 90 times)

ss2343 · **on:** Jul 6, 2018

Describe the purpose of industry/target market feasibility analysis, and identify the two primary issues that should be considered. What is the difference between a firm's industry and its target market?

What will be an ideal response?

Question 2

The single most important thing the founders of an entrepreneurial venture can do to avoid ethical misconduct is to establish a strong ethical culture for their firms.

Indicate whether the statement is true or false

joechoochoy · **Reply #1 on:** Jul 6, 2018

Answer to Question 1

Industry/market feasibility analysis is an assessment of the overall appeal of the industry and the target market for the product or service being promoted. For industry/target market feasibility analysis, there are two primary issues that a proposed business should consider: industry attractiveness and target market attractiveness. There is a distinct difference between a firm's industry and its target market. An industry is a group of firms producing a similar product or service, such as computers, cars, or electronic games. A firm's target market is the limited portion of the industry that it goes after or to which it wants to appeal. Most firms do not try to service their entire industry. Instead, they select or carve out a specific target market and try to service that market very well.

Answer to Question 2

TRUE