31. A preliminary description of product/service to prospective customers to gauge their interest, desirability and purchase intent is a. concept testing b. industry feasibility c.... 31. A preliminary description of product/service to prospective customers to gauge their interest, desirability and purchase intent is a. concept testing b. industry feasibility c. product feasibility d. usability testing 32. All the following can be considered when conducting market feasibility analysis except a. identification of a niche market b. industry attractiveness c. market timeliness d. product analysis 33. The markets and competitors section of a business plan should contain a. a statement of the target market b. the size of each market segment c. the key characteristics of buyers in each business segment d. all the above 34. A group of founders, key employees and advisors that move a new venture from the idea stage to a fully functioning firm is a. new venture people b. new venture group c. new venture traits d. new venture team 35. Which of the list below does not form Intellectual Property? a. copyright b. patents c. trade marks d. tangible assets 36. What is the role of a Business Angel? a. assist an entrepreneur to open a lifestyle business b. provide small business advice c. provide capital for business development in exchange for a stake in the business ownership d. set up a franchise business 37. The availability or otherwise of plant and machinery, and technical know-how to produce the product fails under a. economic viability b. financial feasibility c. managerial competence
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The image contains multiple multiple-choice questions related to business and entrepreneurship. We can address each individual question.
Answer
31. A 32. D 33. D 34. D 35. D 36. C 37. B
- A. concept testing
- D. product analysis
- D. all the above
- D. new venture team
- D. tangible assets
- C. provide capital for business development in exchange for a stake in the business ownership
- B. financial feasibility
Answer for screen readers
- A. concept testing
- D. product analysis
- D. all the above
- D. new venture team
- D. tangible assets
- C. provide capital for business development in exchange for a stake in the business ownership
- B. financial feasibility
More Information
Here is a breakdown of each answer: 31. Concept testing involves presenting a preliminary description of a product or service to potential customers to assess their interest and purchase intent. 32. Product analysis is not typically included in market feasibility analysis. 33. The market and competitors section of a business plan should include a statement of the target market, the size of each market segment, and the key characteristics of buyers in each segment. 34. A new venture team is the group of founders, employees, and advisors that move a new venture from the idea stage to a fully functioning firm. 35. Tangible assets are physical items owned by a company that has a value and can be felt or touched. Examples include equipment, machinery, vehicles, furniture, and real estate and is not considered intellectual property. 36. A Business Angel provides capital for business development in exchange for a stake in the business ownership. 37. The availability of plant, machinery, and technical know-how falls under financial feasibility.
Tips
Make sure to read the questions carefully and understand each of the answers to avoid confusion
Sources
- A(n) ______ involves showing a preliminary description of a product ... - homework.study.com
- [PDF] A primer in Entrepreneurship Chapter 3 – Feasibilty Analysis - business.uzh.ch
- Test Bank of ENT 303 ch3 - Feasibility Study - Scribd - scribd.com
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