Acexams Case Study

891 Words 4 Pages
1.0 Introduction

According to Peter Drucker the founder of the Drucker Institute of Management and an iconic entrepreneur quoted from the Drucker (2004) and cited from (Workspace, 2016): “Innovation is the specific instrument of entrepreneurship; the act that endows resources with a new capacity to create wealth.” In light of this quote, Peter Drucker inspired the sole trader within, to create the proposed business idea which is innovative, educational and for this era entitled “Acexams”. Acexams slogan: “Racing for the Success without Stress” is a Unique Selling Proposition (UPS) to attract the potential consumers to the intended product Acexams a software, study application (app) (Workspace, 2016). Actually the forthcoming product is intended
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53) states: “marketing function begins with a complete analysis of the company’s situation.” Nevertheless, with these specific words continued the conceptualisation of the proposed business idea and considering the importance of Acexams and analysing the product through market research (Kotler and Armstrong, 2012). According to (Wright, 2004) market research is interdependent on the product or service that satisfies the target market and draws intentional success of the business and consumers. In light of this, with the proposed business idea Acexams App relies on market research and depends heavily on B2C (Wright, 2004). In addition, the issues that will be rigorously analysed and presented in the market report for the forthcoming business idea Acexams includes: the importance of marketing analysis, which will be evaluated with Albert Humphrey Strengths and Weaknesses, the marketing objectives will be analysed with Locke and Latham Goal Setting Theory (SMART), market segmentation will incorporate market target and discuss customer analysis and the potential customers and lastly market positioning will focus the competitors analysis (Kotler and Armstrong, …show more content…
In particular, when assessing the recommended strengths of the Acexams this will include: computing skills harnessed by the entrepreneur in a digital era, the accessibility to adapt to the new environment and to the digital era. Foremost, regardless of the vibrant tentative sole trader strengths, Humphrey refers to the weaknesses or hindrances that will abase the intended sole trader business internally from the successes such as: resource constraints, limited experience to make beneficial decisions and the lack of human capital (Stokes and Wilson,

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