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SECTION 3: MARKET FEASIBILITY
AND INDUSTRY RESEARCH

Market Feasibility To Do List and Summary

1. Identify and briefly describe the business you plan to start.
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2. Identify the product or service you plan to sell.
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3. What unfulfilled need does your product or service meet?
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4. How do you know there is a sufficient demand for your service?
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5. What will be your competitive advantage? Will it be product quality, selection, price, location, or some other factor?
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6. List important characteristics of your market segment.
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7. Establish a customer profile and outline the demographics of your market area by examining Census data, such as income, age, and family size.
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8. Create a competitive grid that lists the SWOT information gained on each competitor so that you may easily compare them as you make your own business decisions.
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9. Search for any trade associations that exist for your industry. Contact the appropriate associations to request industry-specific start-up information. Trade associations can be found on the Associations Directory Website
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