Research & Analysis:

Feasibility Studies:

A feasibility study looks at the viability of an idea with an emphasis on identifying potential problems and attempts to answer one main question: Will the idea work and should you proceed with it?
Components of a feasibility Study;
- Market Feasibility: Includes a description of the industry, current market, anticipated future market potential, competition, sales projections, potential buyers, etc.
- Technical Feasibility: Details how you will deliver a product or service (i.e., materials, labor, transportation, where your business will be located, technology needed, etc.).
- Financial Feasibility: Projects how much start-up capital is needed, sources of capital, returns on investment, etc.
- Organizational Feasibility: Defines the legal and corporate structure of the business (may also include professional background information about the founders and what skills they can contribute to the business).

Market research provides businesses with information about their customers, their competitors, and their overall industry. It is commonly used to identify marketing problems and opportunities, as well as to develop and evaluate the effectiveness of marketing
strategies. Market research can help entrepreneurs evaluate the feasibility of a start-up venture before investing a great deal of time and capital, for example, as well as assist them in effectively marketing their goods and services.

Employing such marketing strategies as market segmentation and product differentiation would be nearly impossible without first conducting market research.

Data mining is discovering knowledge from the existing data to arrive at a decision through evaluation. It is Extraction of interesting (non-trivial, implicit, previously unknown and potentially useful) patterns or knowledge from huge amount of data.

Trade area analysis is a methodology, process or technique that provides a basis for understanding, visualizing and quantifying the extent and characteristics of known or approximated trade areas.
Trade area analysis provides the foundation for:
- Understanding the geographic extent and characteristics of the development
- Spatially assessing performance.
- Performing competitive analysis.
- Evaluating market penetration and market gap analysis.
- Target marketing.
- Merchandising.
- Identifying/quantifying effects of cannibalization.
- Developing and exploiting demographic profiles.
- Site suitability and site selection studies.
Trade area analysis also employs theoretical techniques that are used to approximate the potential patronage area. These techniques are used in cases where customer level data is not available.

Product research includes simple, in-person research such as taste tests conducted in malls and in the aisles of grocery stores, as well as elaborate, long-term "beta testing" of high-tech products by selected, experienced users. The objective of product research can be simple; for example, a company may tweak the taste of an existing product, then measure consumers' reactions to see if there is room in the market for a variation. It can also be more extensive, as when a company develops prototypes of proposed new products that may be intended for market introduction months down the road.