Alaska Proposed Public Opinion Survey to Determine Economic Feasibility of Revised Product

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In this form, a consultant is recommending that a public opinion and attitude survey be conducted to determine the proposed consumer acceptance of a new product of a manufacturer as compared to the product now being marketed by manufacturer. Consultant proposes that it be hired to do a public opinion survey to determine the economic feasibility of the revised product.

Title: Alaska Proposed Public Opinion Survey to Determine Economic Feasibility of Revised Product: A Comprehensive Analysis Keywords: Alaska, proposed public opinion survey, economic feasibility, revised product, analysis Introduction: The Alaska Proposed Public Opinion Survey aims to evaluate the economic viability of a revised product in the region. By conducting comprehensive research and gathering public feedback, this study seeks to gauge the acceptance, demand, and potential economic impact of the proposed product in Alaska. The survey is designed to solicit opinions from diverse segments of the population, obtaining a holistic understanding of its feasibility and potential success. Types of Alaska Proposed Public Opinion Surveys: 1. Consumer Perception and Demand: This survey focuses on understanding consumer preferences, their willingness to purchase, potential pricing, and economic viability of the revised product. It explores how the target market perceives the product and whether it aligns with their needs and expectations. 2. Market Analysis and Competitor Benchmarking: This type of survey delves into the market dynamics and competition within Alaska. It assesses the existing market saturation, competitor products, pricing, and consumer loyalty to identify potential challenges and opportunities for the revised product's success. 3. Economic Impact Assessment: This survey aims to evaluate the potential economic benefits of introducing the revised product in Alaska. It investigates the ripple effects on local businesses, employment opportunities, tax revenues, and overall economic growth. This type of survey may involve collaboration with economists, market analysts, and government bodies to examine the potential long-term impact. 4. Sustainability and Environmental Impact: In addition to economic considerations, this type of survey assesses the environmental sustainability of the revised product. It investigates potential environmental risks, resource management, waste generation, and the overall ecological footprint associated with its production and usage. Survey Methodology: The Alaska Proposed Public Opinion Survey employs various methodologies to collect accurate and representative data. These methods include: 1. Online Questionnaires: Utilizing web-based survey platforms, the survey will be distributed to a wide range of participants across Alaska. This method ensures a large and diverse dataset, allowing for a comprehensive analysis. 2. Focus Groups: By assembling small groups of individuals, representing different demographics, the survey gathers qualitative insights regarding preferences, concerns, and expectations related to the revised product. These discussions help provide a deeper understanding of the potential consumer base. 3. Telephone Surveys: Incorporating phone-based surveys enables the inclusion of individuals who may have limited internet access or prefer voice-based communications. This method targets a wider participant pool and ensures data inclusivity. 4. Random Sampling: To ensure a statistically significant sample, the survey employs a random sampling technique to select participants from various regions, age groups, and socio-economic backgrounds. This approach helps to ensure representative results and minimizes potential bias. Conclusion: The Alaska Proposed Public Opinion Survey plays a vital role in gathering public feedback, assessing economic feasibility, and determining the potential success of a revised product within the region. By conducting comprehensive research and analyzing various aspects like consumer perception, market dynamics, economic impact, and environmental sustainability, decision-makers can make informed choices regarding the implementation of the revised product.

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The seven feasibility study stepsPreliminary analysis.Defining the scope.Market research.Financial assessment.Roadblocks and alternative solutions.Reassessment.Go or no-go decision.

The seven feasibility study stepsPreliminary analysis.Defining the scope.Market research.Financial assessment.Roadblocks and alternative solutions.Reassessment.Go or no-go decision.

How to conduct a feasibility studyStep 1: Conduct the preliminary analysis.Step 2: Create a project scope outline.Step 3: Perform your market research.Step 4: Calculate the financial cost.Step 5: Review your research and present your findings to the project stakeholders.

To assess economic feasibility, management has to analyze costs and benefits associated with the proposed project. The capital cost of a project affects the economic evaluation. Cost estimating is essentially an intuitive process that attempts to predict the final outcome of a future capital expenditure (Chen 1996).

For example, an automobile prototype is a tool for the feasibility study, an experiment on rats to develop a new medicine is a procedure of feasibility analysis, checking the configuration and features before purchasing a laptop resembles feasibility tests.

Assessing the Feasibility of a New ProductIs It Real? Does a market exist for the product. Is there a true need in the marketplace?Can You Win? Analyze the competitive environment. Is the proposed product competitive?Is It Worth It? Do we have realistic estimates of sales and revenue? Are product costs acceptable?

Conducting a Market Feasibility Analysis for new products is a critical step in the product development process, sizing the potential market, and ultimately determining market feasibility. There are typically five components to a Feasibility Analysis: Technical, Economic, Legal, Operational, and Scheduling.

To assess economic feasibility, one should:Identify costs and benefits of the proposed system.Assign values to the costs and benefits.Determine the cash flow of the project over the analysis period.Determine the project's net present value.Determine the project's return on investment.Calculate break-even point.More items...

A feasibility study contains a detailed analysis of what's needed to complete the proposed project. The report may include a description of the new product or venture, a market analysis, the technology and labor needed, as well as the sources of financing and capital.

How to conduct a feasibility studyStep 1: Conduct the preliminary analysis.Step 2: Create a project scope outline.Step 3: Perform your market research.Step 4: Calculate the financial cost.Step 5: Review your research and present your findings to the project stakeholders.

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Their goal was to determine the feasibility of a maritime port in Alaska—a port that, as a result of the state's recent development of a highly sought-after offshore oil and natural gas industry, provides a new market for marine products like oil, gas, and timber products. They planned to develop an economic analysis using an economic model and surveying to gauge the feasibility of an economic development, port, and industrial complex for an area that is currently being developed as a deep-water and continental shelf region for natural gas and oil exploration. Read More. New Research: A Case Study for U.S. Economic Development in Alaska The state of Alaska, as well as neighboring Canada, has many unique environmental challenges. It is a world economy which has grown from the timber, tourism, fishing and mining industries to the tourism and service industries. Alaska is also the largest market and location for the Arctic oil and gas industry.

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Alaska Proposed Public Opinion Survey to Determine Economic Feasibility of Revised Product