Our team has extensive experience in developing detailed marketing research reports which utilize both qualitative and quantitative research methodology. Aspire Business Planning Services can create a marketing research report based upon the needs of the client. The marketing research study is a comprehensive service which allows the client to pick and choose the necessary services, ranging from data collection, data entry and analysis, and the creation of the marketing research report including recommendations based on analyzed data.
The feasibility study is done to flesh out the possibilities in an initial business idea. The business plan then fully describes the business and its financial projections. A feasibility study answers the question “Will this work?”, and a business plan answers the question “How will this work?”. Typically, a feasibility study is completed to benefit the entrepreneur, where a business plan is often targeted at investors, lenders, and future executives to explain how the business works. Feasibility studies focus on the size of the potential market, availability and prices of suppliers and distributors, and the abilities of the entrepreneur. Business plans also include operations plans, marketing strategies, location, management,, and in-depth financial projections. Feasibility studies usually compare several possible scenarios for how a business might work. A business will probably fail if its feasibility study is done poorly the first time. Business plans, however, will go through many iterations and are designed to evolve over time.