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Home EMarketing Internet business adviceInternet feasibility studies

Internet feasibilty studies

Developing a financial representation of a business or market or project or campaign through financial models allows managers to explore the impact of different options or scenarios.

This is particularly important in all direct marketing and interactive marketing and in building an ecommerce business where small variations in response, conversion, CPM, production or operational costs can make the difference between success and failure.

There are a number of areas that typically need to be reviewed:

Technology and Resource feasibility

This involves questions such as how difficult it will be to build, how much time it will take, when it can be built, whether it interferes with normal business operations, type and amount of resources required, dependencies, etc. Contingency and mitigation plans should are also stated here so that if the project does over run the company is ready for this eventuality.

Operational feasibility

Do the current work practices and procedures support internet based trading, what organizational changes will be needed and how will this affect the working lives of those affected.

Marketing and Economic feasibility

A business plan needs to be developed stating the commercial viability i.e. if the benefits do not outweigh the costs then it is not worth going ahead. Cost/benefit analysis to determine the benefits and savings that are expected and compare them with costs. If benefits outweigh costs, then the decision is made to design and implement the system.

Legal feasibility

Determines whether the proposed system conflicts with legal requirements, e.g. Data Protection Acts.

Schedule feasibility

How long will it take to develop - are the project deadlines reasonable? Some projects are initiated with specific deadlines. You need to determine whether the deadlines are mandatory or desirable.

Resource feasibility

Does it interfere with normal business operations? What type and amount of resources are required?

We have the expertise and experience to help you with feasibility studies and to access 3 party expertise, develop models, plans and spreadsheets.

Market research

The task of market and marketing research is to provide management with relevant, accurate, reliable, valid, and current information. The competitive market environment and the ever-increasing costs attributed to poor decision making require that marketing research provide sound information. Sound decisions are not based on gut feeling, intuition, or even pure judgment

Research, whether desktop research on hard data, qualitative research or quantitative research on consumer or business behaviour can help to avoid 'classic' mistakes or confirming prejudices or beliefs.

The cost has been known to pay for itself many times over and it is frequently an extremely valuable tool. Once research has provided the necessary information it can be used, together with internal information about production and service costs and financial modelling to establish the feasibility of entering a new market, launching a new product or developing a new channel.

It is particularly important for smaller businesses to do market research.

Many smaller businesses think that it is too expensive but small business market research can frequently be done via the telephone, online surveys and research using web surveys can cost very little indeed for the research itself - it's just a little more for the set up and interpretation but really not expensive at all.

We have the expertise and experience to help you with research.

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