Feasibility Studies

feasibility study near albany ny from drive research

Working with Our Albany Feasibility Study Company

What is a feasibility study?

A feasibility study is a type of marketing research which focuses on determining the potential successes and downfalls of a new concept being introduced to a target market. Our feasibility studies company near Albany involve a two-tiered approach of both qualitative and quantitative research to deliver statistically reliable results.

What are the benefits of a feasibility study?

Feasibility studies near Albany outline an organization's financial status, strengths and weaknesses, and their position in the marketplace vs. competitors. This all-encompassing point of view offers business owners and leadership teams with a completely objective point of view regarding the current state of their business and where there are opportunities to grow. Feasibility studies are a great methodology for meeting the needs of target customers as well as eliciting new ideas for strategic changes.

What are the components of a feasibility study?

Feasibility studies are unique in that there are several core components. First, our Albany feasibility studies firm gathers syndicated research and demographic data is used to determine market supply and shifting target populations. The second component of feasibility studies near Albany is a competitive assessment where our team fully examines the price points and offers of competitors of your concept. Lastly, the third component involves a market study. A market study is beneficial for understanding barriers, appeals, and expected usage of the concept.

What is included in a feasibility study report?

An Albany feasibility study company like Drive Research provides your team with the necessary deliverables to determine the likelihood of success or failure of your new idea or concept. Our feasibility study firm offers a comprehensive report unmatched to any other national feasibility studies company. Our detailed report is a combination of insights collected from many data sources and recommendations for strategic improvement to assist in the success of your new concept.

How much do feasibility studies cost?

Our feasibility studies offer an intricate yet affordable service for our clients located in Albany and the surrounding regions. With that being said, it is difficult to provide one cost with many moving phases of a feasibility study.
With more insight into your project requirements such as objectives, target market, timeline, and budget, our team will be able to provide a more refined estimate.

Interested in feasibility studies near Albany or need a proposal? Contact Drive Research today.

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