As part of a? product/service feasibility? analysis, entrepreneurs need to determine the basic appeal for their offering. Market research firms like MELT can help develop effective business research and offer strategies for conduction research. A tool that can be used to solicit feeback and advice from prospective customer is called? _____________.
a) a confirmation test
b) a concept test
c) product/market fit
d) a landing page
e) gumshoe research
3) Market research firms like MELT can help an entrepreneur do a feasibility analysis by analyzing the overall appeal of their product or service. Which of the following four interrelated components is NOT part of a feasibility? analysis?
a) operations
b) organizational
c) industry and target market
d) financial
e) product or service
4) The product or service feasibility analysis addresses the? question, “Are customers willing to purchase our goods and?services?” Entrepreneurs need feedback from primary and secondary research from potential customers or market research firms like MELT to successfully answer this question. Secondary research involves gathering data that has already been compiled and is available at a reasonable cost or sometimes even free. Which of the following is NOT a source of secondary? research?
a) focus groups
b) industry studies
c) analyst forecasts
d) market research
e) census data
5) The first step in the? product/service feasibility analysis is an assessment of the overall appeal of the product or service being proposed. Market research? firms, like? MELT, can use online tools to assess demand. Which of the following refers to the tendency to search for information that validates and?entrepreneur’s preconceptions about a? product?
a) economic bias
b) resource bias
c) concept bias
d) demographic bias
e) confirmation bias


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