I need help with these 6 questions m7 product/ feasibility analysis Conduct a pr

Question

I need help with these 6 questions

m7 product/ feasibility analysis

Conduct a product / service feasibility analysis for your business by responding to the following questions 1. Drawing from your Product/Service Plan, does your product or service fulfill any essential needs or wants? Support your response. 2. Drawing from your Market Analysis, does a strong market exist for your product or service? Support your 3. Drawing from your Competitive Analysis, can you readily set your business apart from the competition? Support 4. Drawing from your Product/Service Plan, are their significant liability risks associated with your business? 5. Drawing from your Product/ Service Plan, can you readily protect your business's intellectual property? Support 6. Based on your responses to #1-5, what actions can you take to improve the success rate of your business response your response. Support your response your response

Explanation / Answer

Product feasibility study: Sports Shoes (sub $10 range) to be sold in developing countries to the customers having low purchasing power.

1. Yes, the product serves a special need for those sportspersons from developing countries who can not afford to buy expensive Nike or Reebok shoes but have the need for average quality of sports shoes for their day to day sports and other activities.

2. Yes, there is strong market exits for mid-price, good quality sports shoes. There are big players like Nike, Reebok fighting in the high cost segment. Also, there are local manufactures who made poor quality cheap shoes. But in between them lie a huge potential for Mid Segment with relatively good quality and affordable price.

3. By positioning the sports shoes as Good Quality at Affordable price, the Sports Shoes are going to be instant hit among sports lovers in the developing countries. The place where Sports craze is catching up with the rest of the world and people are getting more and more involved with it not just professionally but also a hobby to be fit.

4. Yes, there are some risk like Geopolitical risk and Political risk are there. There may be some government regulations while competing with the local manufactures. Also, global conflicts with hamper the product sell in those markets.

5. Protecting the intellectual property in the Sports Shoes business is very difficult. There is a big market of copied shoes even of big brands like Nike in those markets. Also, with minor modification anyone with resources available can copy the product, without going into legal troubles.

6. To improve success rate of my Business I will:

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