Process analysis

Process analysis

Introduction

Process analysis is the identification, study and record of the development of a new product that fills in a market gap.

Problem identification

Online learning

Online learning, also known as e-learning is defined as the use of advanced technological learning models to transform how information and knowledge is passed to the masses ( Moeng 2004). In Australia alone, there is labor shortage hence leading to tight daily schedules and there being more than 400 spoken languages the need to learn a common international language arises. Few private language-tutoring businesses are available with languages mostly offered in universities hence there is a deficit of supply in relation with demand.

Color wheels, tables and chairs

During the research it was found out that the supply of children furniture, that is tables and chairs was limited if even existent. Children mostly learn using sight hence in a business targeting younger market color is vital as it speaks volumes.

Online shop website

Online shopping has many advantages including shipping and delivery availability, ability to view the entire collection on offer by just a click of the mouse, hence is less tiresome. The level of insecurity in shopping malls, i.e. terrorism target due to the number of people in them, puts of people from physical shopping hence making online shopping a better option (Lehrer, 2012). Therefore, online shopping is safer.

Work evaluation

Evaluation of the different ideas occurred through brainstorming and recognition of a societal need and saw a reason to convert this interest into an income generating activity.

Online learning

Online classes therefore seem viable enough backed up by all the evidence of its shortage in supply and the high market demand.

Color wheels, tables and chairs

This idea was found to have defects as furniture tend to be bulky hence not being the most suitable for learning to children. The only up side to this idea is that one can customize the products to fit the customer specifications. This would mean that the price of the good is higher due to the costs met in reaching the customer’s requirements.

Online shop website

Shopping is a major economic driver hence needs to be sustained for economic balance. Physical shops tend to focus more on profit maximization rather than customer service therefore, addressing the issue in online shopping and customer satisfaction prioritization helps online shopping gain more marketability.

Final idea chosen

Online learning is the most viable business idea of the three stated ideas. This is because of the high demand and deficit in supply hence has the highest capacity to expand. Once the idea is developed, innovation comes into play where there is conversion of the idea into a marketable solution (Frederick and Kuratko 2010, p. 168).

Idea development

The schedule in the learning system is customized to accommodate all the different schedules. Video conferencing is possible and reference materials updated consistently.

This being a new system of learning in the marketing it would be termed as an invention.

Potential problems

Potential problems include hacking and free riding in learning. This is avoidable through implementation of technological measures and controls by obtaining the skills off a computer consultant.

 

References

Moeng, B. (2004). An Informal History of eLearning. On the Horizon, vol: 12, no 3, pp 103- 110

Frederick, H.H, & Kuratko, D.F 2010, Entrepreneurship: Theory, process, practice, (2nd Edition Asia-Pacific Ed.), Thomson, Sydney

Lenher, J. (2012). Imagine: how creativity works. Boston, Houghton Mifflin Harcourt

 

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