Report on Identifying Entrepreneurial Opportunities for Infolex

This report provides a comprehensive analysis of entrepreneurial opportunities for Infolex, a new budget smartphone company based in the UK. It begins by exploring various sources of entrepreneurial ideas, including market trends and customer needs, specifically focusing on the demand for affordable smartphones. The report then delves into the rationale and market gap for Infolex, emphasizing the need for updated technology at accessible prices and the importance of customer service. A detailed gap analysis is presented, comparing the current market situation with desired conditions, and outlining action plans to address identified shortcomings. Furthermore, the report includes a SWOT analysis to assess the strengths, weaknesses, opportunities, and threats facing Infolex. The analysis also evaluates the competitive and market environments, considering key competitors like Vivo and Lenovo, and discusses strategies for market entry and customer acquisition. The report concludes by summarizing the key findings and recommendations for Infolex's success in the budget smartphone market.

Identifying Entrepreneurial
Opportunities

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
P1 Determine and evaluate different sources of entrepreneurial ideas and innovation..............3
TASK 2............................................................................................................................................4
TASK 3............................................................................................................................................5
P3 Present data needed for
gap analysis in evaluation of a
specific entrepreneurial idea......................................................................................................5
P4 Interpret data appropriately to provide evidence of market potential....................................7
TASK 4..........................................................................................................................................10
P5 SWOT analysis to support objective assessment of an entrepreneurial idea.......................10
P6 Evaluate the competitive and market environments in which the idea will be launched to
assess potential viability............................................................................................................11
....................................................................................................................................................12
CONCLUSION..............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Identifying entrepreneurial opportunities has become important for an individual to start
their own business with an intention to earn the higher profit along with generating employment
opportunities. For this, perfect idea generation is needed, where application of desired strategies
will be applicable for long term business and venture (Busenitz, 2012). This report will be cover
Infolex, which is the new budget ended smartphone companies, headquartered in London, United
Kingdom. As, this report will cover generation for new business entity, hence different sources
will be identify. Apart from this, companies will deal in budget ended smartphones with high
specifications. This report will cover determination and evaluation of different sources for
entrepreneurial idea. Also, report will present the data which are needed to support the gap
analysis along with interpretation of it for potential of the market. This report will focus on
SWOT analysis to measure the suitability and reliability of an entrepreneurial idea along with
studying of the competitive and market environments.
TASK 1
P1 Determine and evaluate different sources of entrepreneurial ideas and innovation
Entrepreneurial idea are important for an every individual or group of people to start their
own business, with an agenda to acquire the customer trust, generating employment scope and
facilitating the customer, the experiences of well-structured products or services (Kacmar, 2014).
Various sources such as information/knowledge from existing business, proper market outlook
etc., would facilitates an individual to give acceleration to their business idea's. Determination
and evaluation of business idea has been explained through Peter Drucker model which is as
follows:
The unexpected: This actually says that market place & conditions are suitable to pursue
business opportunities. A good manager should be constantly studying the market scenario or
available trends. In context with this business idea, UK market is the suitable for low budget
smartphone. This is why because, people are buyers of smartphone are looking for low ended
smartphone, might be as a reason of their affordability or they are not interested to spend high
money.

The Incongruity: There is a discrepancy between what is and what should be. This is a
key to developing wildly successful businesses but it's tricky. In context with tech business
entities, Facebook has nailed it. In UK market, various companies are selling budget smartphone,
but they are selling with old technology, which simply means “Scrap”. This business idea and its
opportunity will be longer in UK market for at-least two decades. In response to this, idea will
sustain, because of large customer base around entire UK and Infolex commitment for price as
attractive points to maintain customer trust in them.
Process need: Process need involves identifying your company’s process weak spots and
correcting or redesigning them. Here, in UK market, potential for budgeted ended smartphone is
high, company are selling such a “Scrap”. Through this, special focus will be given to customer
priority, instead of process. Customer desires for budget ended smartphone is high and this has
led me to come as entrepreneur to solve identified desires.
Industry and Market Structure Change: This says that market and industry are in
continuous flux. Regulation changes and some product lines expansion are required to fulfil the
business idea. Infolex has opportunity to generate product & quality changes at the higher rate to
push their in market. Actually, they need to work along with such flux of market and industry
such as suppliers regulations, current distribution channel to asses their product in market.
Demographics: Market constantly see changes occur in populations, income levels,
human capital (education) and age ranges. Smart firms are constantly paying attention to this.
Idea of Budget ended has been arrived, when look at the income level of people and focus
towards stop wasting money on high ended phones.
Changes in Perception, meaning and mood: Over many times, perception level of
people has changed. The way people perceive things has created scope for entrepreneurial
opportunities from time to time and how they feel about things also is modified over time and
smart companies must pay attention to this in order to capitalize. This has inspired for creation of
new end phones through clear and complete understanding of thought process, which people uses
while expressing their satisfaction level to their colleagues, peer, friends etc.
New knowledge: As the speed of technological revolution increases, there will be an ever
increasing number of opportunities that open up. New knowledge is about more than just
technology though, it’s about finding better ways of doing things and improving processes. This
will provide me exact knowledge of current trends running in smartphone to identify changes,

which can bring up through entrepreneurial opportunity. Here, new knowledge is the current
trends such as customer price demand, features or specs in low ended phones and cost saving
customer service. .
Introduction to the business idea: In this report, business idea is of low budget ended
smart phone's between price range of 200 to 300 pounds. This idea has been identified after
doing brief analysis on customer needs and desires for low prices ended smartphones. This is
why, because people of UK has become educated now and they also found spending huge on
premium smartphone is completely worthless. Potential customer will be user's of smartphone,
who are looking for low price product with updated technology and specs. Also, customer
service is the matter here. This idea is possible and will be last long for at-least two decades in
market. For Infolex, target audience will be middle level income people for initial period and
after that Infolex will try hard to get response of premium end customers. Potential customer of
Infolex are located in UK covering their major cities.
TASK 2
P2 Explain the rationale and the market gap for a specific entrepreneurial idea
Entrepreneurial idea needs complete analysis for future business existence purpose. Here,
an entrepreneurial idea is of budget ended smartphone. Infolex will be recognised as name for
new smartphone, which will be sold to customer from starting range of 300 pound to entering the
premium segment in the future (Renko, 2012). This idea has decided because of large market
scope, which has covered 38 percent share in the United Kingdom. Because starting of the
operations, company needs to identify their target market along with gap analysis to accelerate
products to maximum customer along with customer service. Before deciding the target market,
it is necessary to do gap analysis and finding the major reason for starting of this business
venture. This will be achieve through updated technology at affordable prices along with major
focus on Labour intensive technique.
Hence, this is the gap analysis, which was identified after complete analysis of
smartphone market. Peter telson reveals that only market share of 38 percent has acquired till
now for smartphone, might be because of non-affordability or personal interest. Hence, the target
market will be decided to this gap analysis. It was also identified that only 5-6 companies are
their in United Kingdom, who are selling the budget smartphone. As a result, this business
opportunity will be suitable and profitable for longer period of time.

Target market: Infolex will target their prospective customer's on the basis of budget
choice smartphone. It was noticed that people are now shifted towards budget ended smartphone
from premium segment such as Apple iPhone. They are looking for excellent features with price
of affordability. They believes that it is completely non-sense to invest 60000 in the premium
smartphone, because both offers same features what premium sells. In initial stage, Infolex will
target customer to pay 300 pound for smartphone. This is really most affordable prices with
advance features and customer desire factor. Also, Infolex will establish their ecosystem and
community centre, where users will accumulate at one common platform. The major reason
behind is this lack of customer interaction with companies, where they cannot explain their
issues/problems to organisation regarding the product failure. Hence, creating the customer
platform will enables potential customer of Infolex to interact with service Dept. of this new
business.
Competitors analysis: Vivo and Lenovo will be major competitors for Infolex, who are
engaged in similar market. They are also selling the low budget smartphones, but with old specs
and features. But, why these two are listening to customer's actual desires. Hence, this is the
major failures in low budget ended smartphone market. Success is that premium smartphone has
equipped most of the market, but there services are not suitable. This is “Default success”. In
UK market, Infolex will clearly focused on updated technology with at-least android 8.0 version
with software update after 1 month to Android 9.0 pie. Also, processor of 14 nanometres with
provided with 4 GB RAM and storage of 64 GB. It was noticed that India has become major
market for low budget smartphones by Xiaomi. Also, design will be well-shaped along with
excellent customer service. Infolex will provide product replacement guarantee of 30 days. This
is the growth area with risk in initial period of sales promotion and medium, when it will reach
growth stage.
TASK 3
P3 Present data needed for gap analysis in evaluation of a specific entrepreneurial idea
Gap analysis is the method of analysing the difference in performance to check whether
business requirement are being are met or not. The term gap here refers to the condition where
what is the current status and what should be future ones. Infolex is looking for budget ended
smartphone, as this is an innovative idea. Hence, Infolex needs to do market research to know

the market potential before launching the product. Current status of smartphone market in entire
UK shows that there are only players, who are selling less budget ended, but at premium ranges,
which cannot be afford by everyone. There current prices are more than 300 pounds, which is the
high price (Shepherd, 2012). This is an opportunity for Infolex to grab the market with
smartphone at the affording price. Hence, in order to accomplish this, brief research is necessary
to do to get actual results over this topics. Also, this research provides the data to realize the
actual gap analysis and finding the scope of budget ended smartphone. The information below
discussed will identify potential of Budget ended smartphone for UK market to overcome extra
money charged by high budget smartphone manufacture. Here, gap analysis has ascertained that
The gap here, identified is the price factor, which has not been fulfilled by other brands and
customer choice towards their selection process has not taken care. Also, ineffective is the major
concern here. This gap will be solved through brief and analytical research to get suitable
outcomes over this gap.
Gap analysis:
Basis Current condition Desired Condition Action plan
Cost &
product
Companies such as Vivo ,
Lenovo are selling Budget
ended smartphones with
old technology and poor
customer service.
Desired is providing
budget smartphones with
advanced technology and
improved customer
service.
A well-devised pricing
strategy following current
trends in the market as per
each and every specs of
smartphone will be taken
care.
This gap will be close by using of innovation and collective marketing into the process of
product design and customer acquisition stage. The major objective of this business idea is to
enables collective budgeted ended smartphone to customer with advanced technology on price,
what Vivo and Lenovo offers to their customers. Clarity of effective customer will be covered
through this product. Such objective will be accomplish through complete & full use of
innovation with attracting customer focus through marketing.
This gap will be close through regular understanding and practices of market to
manufacture or decides actual product accordingly with effective marketing to sell products.

Research methodology: For this brief marketing research, primary data collection will be
used to ascertain the suitable and relevant data/information for getting known about an exact
scope of smartphone market in an entire UK. Sample size of 20 respondents will be used to
ascertain the suitable and relevant knowledge over the smartphone market and customer
perception point. Data collection is most suitable technique to ascertain the outcomes regarding
behaviour of their potential customers. Such data collection will cover full-fledged questionnaire
which is as follow:
Questionnaire:
Q.1) Are you aware about any budget ended smartphones?
Particular Frequency
a) Yes 12
b) No 8
Q.2) What is actual price of the budget ended smartphone as per previous brand experience?
Particular Frequency
a) 200 pounds 8
b) 300 pounds 8
c) 350 pounds 4
Q.3) What is most required features in the budget ended smartphones?
Particular Frequency
a) Camera 6
b) Performance 10
c) Display or battery 4
Q.4) Do budget ended smartphone will survive in comparison with higher & premium pricing
phones?
Particular Frequency

a) Yes 13
b) No 7
P4 Interpret data appropriately to provide evidence of market potential
To know the potential of budget ended smartphone, brief research has been previously
conducted to know the actual gap analysis as well as people perception of such category of
smartphones (Grégoire, 2015). In previous question, several questions and data/information has
been ascertained of which interpretation is required to know and realize the actual potential of
budgeted phones in the market of United Kingdom. It was also noticed that people has been
overcharged by other smartphones company by offering to the customer's old technology,
specifications and features. As, this is only drawback for the UK economy. For getting the right
information of market potential, interpretation of data is as follows:
Q.1) Are you aware about any budget ended smartphones?
Interpretation: From the above diagram, it has been interpreted that 12 respondents are
aware about budget ended smartphone and rest 8 respondents are not aware about it. This has
been shown that, there is the huge scope for budget ended smartphone in the UK market, as
customer are likely to use it.
Mean 10
Median 10
Mode 12
a) Yes b) No
0
2
4
6
8
10
12
14 12
8
Column B

Q.2)
Interpretation: From the above diagram, it has been interpreted that 8 respondents
says that price for budget ended smartphone must be 200 pounds or below it, another 8 people
says that price must be about 300 pounds and rest 4 respondents says that 350 pounds must be
price for budget ended smartphone of Infolex.
Mean 6.67
Median 10
Mode 8
Q.3) What is most required features in the budget ended smartphones?
a) 200 pounds b) 300 pounds c) 350 pounds
0
1
2
3
4
5
6
7
8
9
8 8
4 Column I

Interpretation: From the above diagram, it has been interpreted that 6 respondents are
required about camera as the perfect budget ended smartphone, another 10 respondents says that
performance must be accurate into the budget ended smartphone and rest 4 respondents has
reveal display or battery must be their in budget smartphone.
Mean 6.67
Median 10
Mode 10
Q.4) Do budget ended smartphone will survive in comparison with higher & premium pricing
phones?
Interpretation: From the above diagram, it has been interpreted that 13 respondents
a) Yes b) No
0
2
4
6
8
10
12
14 13
7
Column I
a) Camera
b) Performance
c) Display or battery
0
2
4
6
8
10
12
6
10
4 Column B

says that budget ended smartphone will compete premium price smartphones and rest 7
respondents has reveals that budget ended phones will not survive in comparison with high
ended smartphones. This analysis shows that Infolex has opportunities to grab the consumer's
attention along with capturing the market of smartphone in entire United Kingdom.
Mean 10
Median 10
Mode 13
Also, there are some secondary research which revealed that market share of budget
phones has declined, because of premium phones marketing strategies and pricing factors. Few
companies such as Samsung is completely focused on high ended smartphone, but they are
providing phones above range of 200 pounds till 400 pounds. Vivo is still providing budget end
phones, but their features are not matching the price range. They are old technology in low price,
which is not good deal. Hence, this is an opportunity for Infolex to launch advanced features in
low cost.
Sources: Market of mid range smartphones, 2018
Illustration 1: Market of mid range smartphones