Q-1.

Briefly map out the feasibility analysis that EventVue’s founders should have conducted
prior to launching the company. Of the four forms of feasibility analysis described in Chapter 3,
which of the forms should have been emphasized the most? Explain your answer.

Feasibility Analysis
Feasibility analysis is the process of determining whether a business idea is viable. It is the
preliminary evaluation of a business idea, conducted for the purpose of determining whether
the idea is worth pursuing. Feasibility analysis takes the guesswork (to a certain degree) out of a
business launch and provides an entrepreneur with a more secure notion that a business idea is
feasible or viable. The four forms of feasibility analysis that were discussed in Chapter 3 are:

 Product/Service Feasibility
 Industry/Target Market Feasibility
 Organizational Feasibility
 Financial Feasibility

I believe product/service feasibility is the one EventVue should have focused on the most. They
should have focused on service demand and desirability.

Product/Service Feasibility Analysis is an assessment of the overall appeal of the product or

service being proposed. The idea is that before a prospective firm rushes a product or service
into development, it should be confident that the product or service is what its prospective
customers want. EventVue should have considered their service feasibility before starting their
project.

Q-2. If EventVue had conducted a comprehensive feasibility analysis prior to launch, what do
you think the company would have looked like?

I believe if EventVue had conducted a comprehensive feasibility analysis prior to launch, they
would have better understood the feasibility of the service they were planning to offer. Service
feasibility consists of assessing the demand and desirability of this service.
The problem started because EventVue created a platform for conferences attendees, but
conference attendees weren’t EventVue’s customers to begin with. So, whatever EventVue
planned, they had planned keeping in mind the attendees rather than the organizers.

Had EventVue conducted a comprehensive feasibility analysis, they could have assessed the
pain points of their target market, addressed them accordingly, and come up with a business
idea that solves a problem for the conference organizers.

Q-3. Do some Internet research to see if there are companies that are providing social networks
for conference attendees. If so, what are they doing differently than what EventVue tried to do?
Try to discern why they have been able to stay in business while EventVue failed.

Launched in June 2012, Bizzabo is one of the most successful social networking platform out
there. Co-founder Alon Alroy said Bizzabo is intended to become “the standard app for
networking at events” because it aggregates information from multiple events on one mobile
platform.

Planners add an event to the app by inputting the event’s name, address, date, hashtag, and
description on the Bizzabo web site, free of charge. Once added, anyone using the app can find
the event, unless the planner opts to make it a private community. Attendees join by
connecting their LinkedIn account, and they can also connect their Twitter account and add
other professional information. Then users can browse the list of attendees to find people with
common interests, send messages in real time, and find future events that like-minded people
will be attending.

Planners can also use the app to communicate with attendees and get real-time analytics on
usage, while exhibitors can send Groupon-style offers through Bizzabo, such as providing a gift
to the first 20 people who click on an offer in the app. Alroy said in the future planners will be
able to use the platform to generate revenue from sponsors and exhibitors by providing them
with more targeted leads.
In this case, EventVue failed to generate a sense of need. Where Bizzabo made a
comprehensive analysis of their feasibility, EventVue simply took decisions based on their
assumptions.