CSEET · Economic and Business Environment · Entrepreneurship Scenario
Meera notices that many working professionals in her city struggle to get healthy home-cooked meals at the office. She tests the idea by surveying 200 professionals and then drafts a plan for a tiffin service. Her survey is best described as part of which stage?
The survey is part of opportunity assessment and feasibility analysis. Meera is testing whether genuine customer demand exists for her tiffin idea before committing resources, which is the purpose of market feasibility work early in the entrepreneurial process.
- AOpportunity assessment and feasibility analysisCorrect
- BHarvesting the venture
- CStatutory winding up
- DFranchise licensing
Explanation
A survey to check whether real customer demand exists for an idea is market feasibility work, which belongs to opportunity assessment. Harvesting and winding up occur at the end of a venture's life, and franchising is a growth model, not a demand test.
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