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Case Study #1 Turner Test Prep Co.

In: Business and Management

Submitted By Jdizzle1
Words 1231
Pages 5
With an undergrad degree in business, a master's degree in accounting, and previous experience as a teacher for a test prep company under her belt, Jessica Turner decided to start Turner Test Prep Co., a California based company specializing in Certified Public Accountant (CPA) exam preparation. After three years of operation, Turner Test Prep Co. possessed about 10 percent of the small market and was facing fierce competition from its rival company, National Testing Services (NTC). By Spring of 2003, Turner was pleased that the number of customers was rising each session, but was concerned that she had not tapped enough of the market and was not growing in the right direction. Furthermore, a lack of student attendance in live lectures caused her to wonder if there was opportunity in formatting the course differently. Finally, Turner realized that she neglected to calculate her break-even point. In short, Turner was questioning the effectiveness of several aspects of her business plan such as her differentiation, marketing, and advertising strategies.

At the beginning of this case study Turner starts off making some good choices such as using the effectuation process to come up with her idea to develop a CPA testing prep company. This process leads her to choose a career path and business that makes use of her knowledge, experience, and resources. Another great choice Turner makes is to do research to find a prime location for her business. In addition, it is wise of her to devote so much time and effort into developing a service that has a competitive advantage over competitors’ services. However, Turner overlooks several important opportunities to build a comprehensive business plan such as doing market research to ensure that her method of instruction is one that would be valued by the majority of potential customers. Similarly, she fails to include crucial…...

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