Feasibility Studies

feasibility studies in syracuse, ny with Drive Research

Working with Our Feasibility Studies Company in Syracuse

What is a feasibility study?

A feasibility study is a type of market research which focuses on determining the potential successes and pitfalls of a new concept being introduced to market. Our feasibility studies company near Syracuse utilizes 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 Syracuse outline an organization's strengths and weaknesses, their position in the marketplace vs. competitors, and its financial wellbeing. This overarching point of view offers business owners and managers with an objective point of view regarding their business's current situation and other areas of opportunities. Feasibility studies are a great tool for meeting the demands of target customers as well as sparking new ideas for strategic changes.

What are the components of a feasibility study?

There are several featured components recommended by our Syracuse feasibility company. 

  1. Syndicated research and demographic data is used to measure market supply and shifting target markets.
  2. Competitive assessments to evaluate several like competitors of your concept.
  3. Market surveys to determine the concept’s appeal, barriers, and expected usage. 

What is included in a feasibility study report?

A Syracuse feasibility study company like Drive Research provides your organization with the necessary insight to determine the likelihood of success or failure of your new idea or concept. Our feasibility study agency delivers a comprehensive report with combined insights from a variety of data sources, recommendations and action items, and areas of strategic improvement to assist in the success of your new venture. 

How much do feasibility studies cost?

Our feasibility studies create an effective yet affordable service for our clients located in Syracuse and surrounding areas. However, with many moving phases of a feasibility study, it is hard to offer a clear-cut cost for this type of marketing research. By learning more about your project requirements such as objectives, timeline, audience, and budget, Drive Research is able to provide a more refined scope of work.

Interested in a feasibility study near Syracuse or need a proposal? Contact Drive Research today.

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