Bazar Buluh Kubu Bazaar Buluh Kubu is just located beside the well-known central market, Pasar Siti Khadijah, Kota Bharu Kelantan. Bazar Buluh Kubu also known as Bazaar Siti Aisyah. Bazaar Buluh Kubu is the first modern bazaar ever built in Kota Bharu, Kelantan, officially opened in 1985.
Bazar Buluh Kubu Bazaar Buluh Kubu consists of a four-storey building, including the lowest basement car park, and three-storey shopping lots (Food court is located on the 3rd floor).Today, Bazaar Buluh Kubu houses varieties types of shop lots, including those selling traditional hand-made handicrafts (miniature of Wau, traditional musical instruments, Wayang Kulit puppets, etc), local made fabrics (batik, songket), hand-made pewter, wood-crafting items, modern-designed clothing and local traditional food and dessert.
Bazaar Buluh Kubu is an ideal bargain center for local and international tourists. Batik, pewter, souvenirs, etc. on sale are of irresistible price. Practice more on our bargaining skill to get the best price out of the item. Also an ideal place for you to purchase souvenirs for beloved friends and families.
However, due to so many attractions and new shopping complexes in Kota Bharu, the attraction and crowd of tourists as well as local people to Bazar Buluh Kubu decreased significantly. Therefore, the idea of rejuvenating the place was initiated in order to bring back the popularity of Bazar Buluh Kubu.
To do so (rejuvenating process) a thorough study (feasibility study) is required. What is a feasibility study? Feasibility study is a crucial phase in the planning process for any proposed project or business venture. It serves as a systematic and comprehensive investigation to determine the practicality and viability of the upcoming project, in this case Bazar Buluh Kubu will be rebranded as well as restructuring the business model, either as batik and heritage hub or based on demand and supply concept. Then, successful feasibility studies provide decision-makers with valuable insights, allowing them to make informed choices about whether to proceed with a project. This article shares the essential steps involved in conducting a feasibility study.
The first step in conducting a feasibility study is to clearly define the scope and objectives of the project. This involves specifying the purpose, goals, and expected outcomes. A well-defined scope ensures that the study focuses on relevant factors and provides meaningful results.
Second step is data and information gathering. Thorough research is essential in the feasibility study process. Collect data and information related to the project's market, technology requirements, financial considerations, legal and regulatory aspects, and operational aspects. This step involves both primary and secondary research to ensure a comprehensive understanding of the project's environment.
Those data and information are collected via market analysis. Whereby, market analysis plays a role to assess the demand for the product or service in the target market (current as well as future). Identify potential customers, analyze competitors, and evaluate market trends. This step helps in determining the project's feasibility from a demand and competition perspective.
Apart from that, the technical analysis of the existing Bazar Buluh Kubu needs to be assessed. So the evaluation of the technical aspects of the project, including the required technology, skills, and infrastructure. Assess whether the proposed project can be successfully implemented with the available resources and technology. Identify any potential technical challenges or constraints.
Another analysis needs to be done along the rejuvenating process of Bazar Buluh Kubu is the bottom line (financial aspect). Financial analysis to estimate the costs and potential returns associated with the project. Develop financial projections, calculate the payback period, return on investment (ROI), and conduct a cost-benefit analysis. This step is crucial in determining the economic viability of the project.
Since this study is expecting a solid suggestion and to be used for another 5 to 10 years, the timeline of the study needs to be relevant. Evaluate the timeline for implementing the project. Assess whether the project aligns with the organization's objectives and deadlines. A realistic schedule helps in planning and resource allocation.
As a conclusion, performing a feasibility study contributes to a holistic understanding of the project's viability. By following these steps, decision-makers can make well-informed choices that increase the likelihood of project success and sustainability. The feasibility study serves as a valuable tool in the strategic planning process, guiding organizations toward projects that align with their goals and have a high probability of achieving positive outcomes. Last but not least the new image of Bazar Buluh Kubu will boldly establish and again being a signature place in Kota Bharu.
