- The First Step in Marketing Feasibility
The first step in marketing feasibility is typically market research. This involves gathering and analyzing data about the market where the product or service will be offered. It includes understanding customer needs, market size, competition, and potential sales volume. - MSME Stands For
MSME stands for Micro, Small, and Medium Enterprises. These are businesses with investments in plant and machinery that do not exceed a certain threshold and are critical to the economy’s growth due to their contribution to production, exports, and job creation. - The Word Entrepreneur is Derived From
The word entrepreneur is derived from the French word ‘entreprendre,’ which means ‘to undertake.’ In a business context, it refers to someone who starts and runs a business, assuming the risk for the sake of profit. - Feasibility Study Known As
A feasibility study that examines the marketability of a service is known as market feasibility study. It’s an analysis that gauges how well a product or service will be received in the market. - MUDRA Stands For
MUDRA stands for Micro Units Development and Refinance Agency. In India, it’s an initiative by the government to provide funding to the non-corporate small business sector. - Entrepreneur
An entrepreneur is someone who creates a new business, bearing most of the risks and enjoying most of the rewards. The entrepreneur is commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures. - MSMED Act Classification Year
The MSMED Act, or the Micro, Small and Medium Enterprises Development Act, was enacted in 2006 in India. The Act classifies enterprises into micro, small, and medium categories based on their investment in plant and machinery and equipment. - MSME Support
MSME support refers to the various policies, programs, and initiatives provided by governments, non-governmental organizations, and financial institutions to promote and assist the growth of MSMEs. - Determination of Project Worth
The determination of whether a project is worth doing is termed as project evaluation or project appraisal. This involves considering the potential costs and benefits to decide if the project should proceed. - Feasibility Study Process in Entrepreneurship
The feasibility study process in entrepreneurship involves several key steps: idea generation, market research, financial analysis, operational feasibility, and a review of legal and contractual considerations to decide on the viability of the business idea.