Embarking on a new business venture requires careful planning and a deep understanding of the initiative itself and the environment in which it will operate. Whether it may be the set-up of a new business, a merger or acquisition, or even starting a new project within an existing organization, it is important to establish a solid understanding of the market that the new venture will join, analyze the strengths and limitations of the new initiative, their economic benefits and chances of success. This is done through a combination of market and feasibility studies.
Organizations looking to achieve a comprehensive understanding of a particular market often turn to market studies to obtain that information and insight. Often an essential element of business plans for new ventures, a market study provides a detailed analysis of the market that the start-up will enter. But it can also be used to provide more insight into a market in which an organization is already operating, and steer necessary change in business strategies, performance and competitiveness.
MENTOR’s market research and analysis involves an assessment of a market segment from various perspectives, and provides an overview of the market characteristics that may affect the business in question. These characteristics mainly relate to customers, competition, procurement and distribution, and understanding them provides an essential basis for more informed business decisions.
In performing market assessments, our research specialists identify and profile potential customers, their behavior, preferences and demand for the product or service in question. They also analyze competitors, assess their products and services and marketing strategies. In addition, we provide an overview of the availability, capabilities and pricing of suppliers, contractors and distribution channels.
Feasibility studies are an essential requirement in the establishment of new ventures, the expansion of existing organizations, or acquisition of others. They provide a comparison of expected value and cost, and determine the economic advantage of proceeding with a proposed scheme.
While conducting a feasibility study, MENTOR’s consultants perform an analysis of market, organizational, technical and financial issues, and provide insight on the actions required to achieve optimum outcome for the business venture. We acquire a thorough understanding of its plans and objectives, and analyze market information on customers, competition, and procurement and distribution.
We also advise on critical success factors and on the development of business assumptions and financial projections, and assess expected return on investment and probability of success for the proposed venture.