1. Answer the following questions about the feasibility analysis:
a. What is a feasibility analysis? When should it be conducted?
i. A Feasibility analysis is the process of determining if a business is viable and is
an assessment of potential business. It should be conducted before the startup
of a business and if business begins to fall short in more than one area involving
the four components, the business should either be dropped or rethought.
b. Why is it important to conduct a feasibility analysis?
i. The feasibility analysis requires both primary and secondary research and is
important because it determines if a business is viable or not and whether its
purposes needs to be ...view middle of the document...
Primary research is
more expensive because it’s new and someone has to obtain and conduct new
information and analysis. Secondary, on the other hand, can be obtained off the
web or other sources for free or at a low price.
b. What type of research did the founders of Luminaid use in founding their business?
Based on the findings of their findings, assess the product desirability and product
demand for their product.
i. The founders used mainly primary research being that the idea of the products
design was very new to the market. The product was successful and very
desirable and the demand was great for it with regular camping or reading
Americans to non-American disaster victims.
c. What is the target market for Luminaid? Is this market attractive? Explain why or why
Homework Assignment #3
i. The target market for the Luminaid is mainly disaster relief
programs/organizations and yes it is attractive. The product is attractive
because of the size (very compact and can ship many at lower costs because of
that). It looks nice and put out enough light to allow people to get through a
good portion of the night safely.
d. Go to Indiegogo.com and type in the search bar LuminAID and watch the short video
provided by the owners. Would you be interested in funding this business? Explain why
or why not.
i. I would be very interested in funding this business because of the meaning and
beautiful cause behind it. It is awesome and can be used for more than just a
disaster relief aid but also a light and compact camping aid, book light, and
more! It is a great multiuse product/fund to invest myself in.
3. Read the Case 3.2 (Embrace Infant Warmer in pages 102-104) and answer the 4 questions (3-38;
3-39; 3-40; 3-41) following the case in page 104.
i. I would say that the target market is more so hospital organizations in
developing countries that simply can’t afford incubators, as well as doctors and
mothers in rural villages where most babies are born. I would say this market is
pretty attractive given that over 15 million babies are born premature each year
in America alone. In developing countries,...