Published by MBA Skool Team, Last Updated: December 19, 2016
Marketing Strategy of Accenture analyses the brand with the marketing mix framework which covers the 4Ps (Product, Price, Place, Promotion). There are several marketing strategies like product innovation, pricing approach, promotion planning etc. These business strategies, based on Accenture marketing mix, help the brand succeed.
Accenture marketing strategy helps the brand/company to position itself competitively in the market and achieve its business goals & objectives.
Let us start the Accenture Marketing Strategy & Mix to understand its product, pricing, advertising & distribution strategies:
Accenture Product Strategy:
The product strategy and mix in Accenture marketing strategy can be explained as follows:
Accenture is committed to the best possible services and products. All these solutions its provides form the product strategy in the marketing mix of Accenture. Accenture hires people with expertise related to the industries so that they can make them count in the world of cut- throat competition. The main motto of the company is to satisfy the customer and help them reach their goals. Accenture has bench marked itself in the field of consulting, services, solutions, technology development. In consulting the company has made its prime aim to look into the field of management consultancy. Accenture uses technology to properly design the work and make them count so that the customers are satisfied. The service sector in mainly aimed in the direction of the HR, operations, help desk, technology, development and IT. Accenture also have projects which are of the consulting nature. The solutions which they provide are of the special and distinct skills and they are of high quality.
Image: company website
Accenture Price/Pricing Strategy:
Below is the pricing strategy in Accenture marketing strategy:
Accenture has got a wide service portfolio, because of which the pricing strategy also varies.
The basic saying goes that the quality comes at a cost. Thus we find that Accenture has a premium priced services as they always believed that the services should be of the best quality and that they would not compromise on the quality of it. The main target of Accenture is the premium base of the customers. Thus they are willing to go to the high extent in terms of prices as they are will not compromise on the quality of the product. The company’s reach is not only national but also international. Thus we find that the vast customer base of the people will help them to make their pricing a bit flexible. The customer satisfaction, as stated earlier, is the main aim of Accenture. Thus sometimes they are also flexible with their pricing policy so that the customer base is maintained and they derive business from them. This gives an overview on the marketing mix pricing strategy of Accenture.
Following is the distribution strategy in the Accenture marketing mix:
Accenture is making its presence felt all over the world. Accenture are making sure that the services are not restricted to any particular country. The company provides high quality services which helps them to make their presence felt all over the world. Thus the place of the company could not be restricted to any particular nation. Accenture has made its presence felt globally. When taken into consideration they have made significant impact in the country wise also. If you see them, they have become one of the top recruiters in a few of the powers of the world.
This is not because of the expansion policy, but the large amount of client base Accenture need to crater to, which is not restricted demographically.
Accenture Promotion & Advertising Strategy:
The promotional and advertising strategy in the Accenture marketing strategy is as follows:
Accenture has gone to great extent when it comes to the promotional activites as a part of of its marketing mix strategies. The tag line of “high performance delivered” is one of most famous lines of the world. We find that Accenture also concentrates not only the paper promotion but also the media. Accenture takes its promotion seriously and they have made it count all through. They make their promotion though the digital channel and they also advertise through the banners, hoardings, digital display, etc. They make sure that they are doing well in the part of the customer satisfaction part as they are also a source of promotion. Accenture promote a lot of events and make sure that they are making it count by getting in globally famous people. They once had Tiger Woods as their brand ambassador. They made all sort of promotion using the name of Tiger. Accenture also portray the successful stories of the customers and make sure that they are well depicted as the customers satisfaction are the main source of the success. They are also into the CSR activities, which are used to make sure that they make impact on the social aspects also. This in turn is a kind of indirect promotional activities carried out by Accenture.
Since this is a service marketing brand, here are the other three Ps to make it the 7Ps marketing mix of Accenture.
The customers are well connected to the company. Accenture feels that the customers should be satisfied with the quality of the services which they want and also the kind of service they desire from the company. Hence, customers, employees, management, workers, everyone contributes to the prosperity and growth of the bank. Every worker and employee adds to the profitability of the company.
Accenture has its physical evidence through websites. The Business cards, paperwork, brochures, furnishings are a source of physical evidence. They also provide tangibles such as diaries, pens to employees. Furnishings, financial reports, signage also reduce intangibility of the services. The various offices of Accenture across the world are also a proof of their strong physical evidence.
Accenture has a very centralized process. Since the company is a multinational company, we find that the process if not centralized then might cause a problem. Accenture have a huge client base and the process if not simplified causes a problem for the company. The clients are also selective about the way they prefer their services. Thus Accenture have a provision for the customization of the products so that they can make it up to the customers desired level. Being a multinational company we find that Accenture are well connected all over the globe regarding the process which they customized for meeting the preference of the clients. This concludes the marketing mix of Accenture.
Accenture is a professional service company which has an out stretch all over the world. It services are vast namely strategy, consulting, operations, digital, technology to name a few. The company is a Fortune 500 company and they are making a huge impact all over the world. Accenture make sure that the people are satisfied by their services and they are rising at a rapid rate. Accenture started its business as a technology consulting division for the accounting firm Arthur Anderson. But with due course of time the tensions among the groups started rising and they separated.
In 2001, the company was set up under the name of Accenture, which meant accent to the future. The company was making its footprints felt in the world of service providers.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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