A feasibility study is a systematic analysis that evaluates the potential of a product opportunity to succeed, focusing on financial, operational, and technical aspects.
By conducting thorough feasibility studies, product managers can identify whether a proposed opportunity is not only viable and feasible but also potentially profitable before allocating resources.
The assessment includes analyzing technical requirements, resources for development, market demand, competition, and economic viability, making it a comprehensive evaluation of product opportunities.
Conducting a feasibility analysis is crucial for product managers, as it helps them make informed decisions on whether to pursue or discard a product idea based on its potential success.
#feasibility-study #product-management #opportunity-assessment #market-analysis #technical-viability
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