Digital Health App
This feasibility study will be similar to a traditional business plan document, but with a focus on the following topic areas and headings.
You are required to use these to present the core feasibility of your new concept and business model:
-Brief description of the business concept and value proposition.
-Target market and customer.
-Key points of Business Strategy
1.1 Business environment analysis
- This should offer an analysis of the key issues in the external macro business environment for your concept.
- This should include the areas covered in a standard PESTLE analysis, identifying the issues and risks relevant to your concept.
2. Market and analysis.
You should research your market and present an analysis, including:
- Market size, structure and characteristics, including trends in demand and consumer needs/wants.
- Customer profile/demographics: include their location, age and other relevant information that would help identify realistic potential sales volumes.
- Competitor analysis: identify key competitors and potential threats to your new business, including a Porter's Five Forces analysis.
3. SWOT analysis:
- You should complete a SWOT analysis of the proposed business based on the previous research and analysis. This should identify the key internal (strengths, weaknesses) and external (opportunities, threats) factors affecting the business.
- This should be followed by identifying the key potential risk areas, linking them to how they will be addressed in the subsequent marketing and financial plans.
- The main SWOT points may be presented as a table, followed by the analysis of risk, ensuring it is clear why each item has been included.
Porters 5 forces and SWOT are to be included within the word count.