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Marketing Information
Competitive Advantage Analysis: How well does the proposed service meet the demands of the market compared with the competition?
The proposed service meets the demands of customers by providing them with products that can be customized. This helps them to create procedures that are effectively monitoring their bottom line results and objectively analyzing the impact of various activities. The below product -- market matrix is illustrating how this can help to give the firm a competitive advantages over others inside the marketplace. ("Top 100 Accounting Firms," 2012) ("Home," 2012)
Product -- Market Matrix
Market Penetration: The market that will be penetrated is the various segments of individuals and businesses that need customizable solutions. The primary competitors in this segment include: Deloitte & Touche, KPMG, Price Waterhouse Cooper and Grant Thornton.
Market Development: Currently, competitors offer similar kinds of products and services to customers. This means that the firm will identify and take advantage of the need for specialized solutions. One firm that is offering similar services is HCVT. They are reaching out to clients taking a similar kind of approach.
Product Development: To develop the products, there must be more personal attention provided...
This means that all clients will have a professional working relationship with their representative from the company. In the case of competitors, they often overlook this aspect. This is because they have become larger organizations that will forget about their needs.
Diversification: To more effectively connect with clients a variety of services will be provided. This will allow the firm to create customizable solutions that are tailored to each individual and organization. In the past, firms such as HCVT have become involved in these practices. However, as they have become larger, the underlying quality that is provided has continued to decline.
("Top 100 Accounting Firms," 2012) ("Home," 2012)
These factors are showing how competitors are offering similar products. What will make our firm different is to provide these solutions in conjunction with high levels of one on one personal attention. This will allow clients to receive services that are specifically designed to address their needs. When this happens, the quality of the products and services will be superior in contrast with other firms. ("Top 100 Accounting Firms," 2012) ("Home," 2012)
My Target Segments
There are a number of target markets that will be identified. In general, there is a focus on affluent persons and…
References
Home. (2012). HCVT. Retrieved from: http://hcvt.com/
Top 100 Accounting Firms. (2012). Accounting Majors. Retrieved from: http://www.accountingmajors.com/accountingmajors/articles/top100.html
Marketing Information system is a management information system that supports decision making processes in marketing (Kotler & Keller, 2006). Marketing data is gathered, stored, and analyzed within this system and distributed on timely basis to managers to enhance decision making processes (Kotler, 1988). It is a continuing and an interactive structure of people, equipment and procedures to gather information that is used in decision making processes in an organization. The
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